Leidos Q2 2023 Earnings Report
Key Takeaways
Leidos Holdings, Inc. reported strong second quarter results with a 7% year-over-year increase in revenues, reaching $3.8 billion. Net income increased by 22% to $210 million, and adjusted EBITDA rose by 15% to $420 million. The company is updating its fiscal year 2023 guidance.
Revenues increased by 7% year-over-year to $3.8 billion.
Net income was $210 million (5.5% margin); Adjusted EBITDA was $420 million (10.9% margin).
Diluted Earnings per Share were $1.50, or $1.80 on a non-GAAP basis.
Net bookings totaled $2.9 billion, representing a book-to-bill ratio of 0.8.
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Leidos Revenue by Segment
Forward Guidance
Leidos is updating its fiscal year 2023 guidance as follows: Revenues (billions) $14.9 - $15.2, Adjusted EBITDA Margin 10.1% - 10.5%, Non-GAAP Diluted EPS $6.40 - $6.80, Cash Flows Provided by Operating Activities (millions) at or above $700.