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Leidos Swings To Profit In Third Quarter; Restarting Glide Munition Production

Cal Biesecker By
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Leidos Swings To Profit In Third Quarter; Restarting Glide Munition Production
Leidos CEO Tom Bell. Photo: Leidos

Leidos [LDOS] on Tuesday reported strong third quarter financial results led by its health and defense segments and the company raised its guidance for 2024 and set expectations for further growth in 2025 and beyond. Net income swung to $362 million, $2.68 earnings per share (EPS), versus a loss of $396 million ($2.91 EPS) a year ago when the company suffered $699 million in charges, mostly related to impairments in its security detection business (Defense Daily, Oct. 31, 2023). Adjusted…

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