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Leidos Posts Mixed Results In First Quarter; Lowers Profit Outlook On Covid Impacts

Cal Biesecker By
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Leidos Posts Mixed Results In First Quarter; Lowers Profit Outlook On Covid Impacts
Artist rendering of a Dynetics-built hypersonic glide body weapon. Image: Leidos

Leidos [LDOS] on Tuesday reported higher sales but lower earnings with the top line gains driven by higher volume, new program wins and recent acquisitions and the bottom line impacted by a tough comparison from a year ago when the company benefited from the sale of its commercial cyber security business, a charge on an international program, and negative impacts from the COVID-19 pandemic. The company also lowered its guidance for sales and earnings this year to account for COVID…

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