Leidos raises guidance following $4.56 billion revenue

• Leidos reported second-quarter revenues of $4.56 billion, representing a 7% increase year-over-year.
• GAAP net income fell 9% to $356 million, impacted by $29 million in restructuring and acquisition costs.
• The company raised its full-year 2026 revenue forecast to a range of $18.20 billion to $18.40 billion.

Leidos (NYSE:LDOS) reported $4.56 billion in second-quarter revenue, marking a 7% increase from the previous year.

This revenue growth was primarily driven by the defense technology, energy, and intelligence mission support sectors.

Despite higher overall revenues, GAAP net income declined 9% to $356 million compared to last year.

The earnings drop reflected $29 million in recent acquisition, joint venture, and internal restructuring costs.

Looking ahead, management raised full-year forecasts.

The contractor generated $793 million in operating cash flow and secured $4.9 billion in net bookings.

The business ended the quarter with an expanded $48.7 billion backlog and $6.0 billion in debt.