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Leidos Posts Strong First Quarter Across Enterprise; Details Growth Strategy

Cal Biesecker By
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Leidos Posts Strong First Quarter Across Enterprise; Details Growth Strategy
Leidos CEO Tom Bell. Photo: Leidos

Leidos [LDOS] on Tuesday reported strong first quarter results driven by top and bottom-line increases across its operating segments. Net income rose 29 percent to $365 million, $2.77 earnings per share (EPS), from $283 million ($2.07 EPS) a year ago. Excluding costs related to acquisitions, integration, and restructuring, and amortization of acquired intangible assets, adjusted earnings of $2.97 EPS beat consensus estimates by 47 cents per share. Sales increased 7 percent to $4.2 billion versus $4 billion a year ago.…

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