Leidos (LDOS) Reports Strong Financial Results

By Bobby Samwell • Tuesday, February 11 10:28 • Permanent Link

Leidos Holdings, Inc. has reported strong financial results for the fourth quarter and fiscal year 2024, showing significant growth across various key metrics compared to the previous year.

In the fourth quarter of 2024, Leidos posted revenues of $4.4 billion, marking a substantial 10% increase compared to the same period the previous year, when revenues were $3.98 billion. For the entire fiscal year 2024, the company reported revenues of $16.7 billion, demonstrating an 8% year-over-year increase from $15.44 billion in the previous year.

The diluted earnings per share (EPS) for the fourth quarter saw a notable surge, reaching $2.12, which represented a remarkable 28% increase from the same period in the prior year, when the EPS was $1.66. For the full fiscal year 2024, the diluted EPS stood at $9.22, marking an extraordinary 540% year-over-year increase from $1.44 in the previous year.

When considering non-GAAP measures, Leidos reported a non-GAAP diluted EPS of $2.37 for the fourth quarter, reflecting a robust 19% increase from the previous year. Similarly, for the full fiscal year, the non-GAAP diluted EPS was $10.21, demonstrating a substantial 40% year-over-year growth.

The company's cash flows from operations totaled $299 million for the fourth quarter and $1.4 billion for the entire fiscal year, indicating strong operational cash generation during 2024.

Additionally, Leidos reported a backlog of $43.6 billion, which marked an 18% year-over-year increase based on the 2024 book-to-bill ratio of 1.4.

Tom Bell, the Chief Executive Officer of Leidos, expressed satisfaction with the company's performance, emphasizing the strong revenue growth and business development in the fourth quarter, driven by their focus on addressing the enduring, mission-critical needs of their customers. He also highlighted the company's positive outlook for the future, supported by a clearly defined strategy and a technology-enabled team.

The operating results also showed a significant improvement in net income margin, which stood at 6.5% for the fourth quarter and 7.5% for the full fiscal year 2024, compared to 5.8% and 1.3% in the respective periods of the previous year.

Today the company's shares have moved -4.5% to a price of $136.32. If you want to know more, read the company's complete 8-K report here.

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