Aerospace Group:

Business/Financial

Leidos Posts Strong First Quarter Financial Results

By Cal Biesecker

Tuesday, May 4th, 2021

SHARE:

Leidos Posts Strong First Quarter Financial Results

Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Tuesday reported a strong opening to its fiscal year with broad strength across its portfolio of health, defense and civil businesses combined with contributions from recent acquisitions. Sales increased 15 percent to $3.3 billion, a quarterly record, from $2.9 billion a year ago, with organic revenue up 9 percent and the rest of the growth driven by several acquisitions. Net income soared 78 percent to $205 million, $1.42 earnings per share (EPS), from $115 million (80 cents…

Congress

HASC’s Wittman Sees ‘Challenging’ Push For $350B In Reconciliation Funds, Wants Sustained Defense Increase

NATIONAL HARBOR, Md.– Congress’ work to pass $350 billion in reconciliation funds to support the Trump administration’s push for a $1.5 trillion fiscal year 2027 defense topline is “going to […]

Army

Army Secretary Says “We Need To Over-Invest in FLRAA To Get It Online As Quickly As Possible”

Rep. Ken Calvert (R-Calif.), chairman of the House Appropriations Committee’s defense panel (HAC-D), said on Thursday that the Army’s budget plan beginning in fiscal 2027 has more than $2 billion […]

Congress

Pentagon Fiscal 2027 Budget To Address Cannibalization Of Parts For F-35, Legislator Says

The Pentagon’s upcoming fiscal 2027 budget request will help reduce the cannibalization of parts for the F-35 fighter by Lockheed Martin [LMT], the chairman of the House Armed Services Committee’s […]

Budget

Trump’s $1.15 Trillion Request For DoD Is The ‘New Normal,” HASC Chairman Says

COLORADO SPRINGS, Colo.—The Trump administration’s nearly $1.2 trillion baseline defense budget request for fiscal year 2027 will be adopted and will be the foundation for the “new normal” going forward, […]