Leidos Q3 revenue hits $4.63B, up 4%

Leidos (NYSE:LDOS) reported third-quarter 2026 revenue of $4.63 billion, up 4% year over year, while net income increased 12% to $413 million.

Diluted earnings per share rose 16% to $3.28, while adjusted diluted earnings per share increased 19% to $3.62, reflecting improved profitability during the quarter.

The company reported operating cash flow of $523 million and net bookings of $5.5 billion, bringing its total backlog to $49.6 billion.

Leidos ended the quarter with $630 million in cash and approximately $6 billion in debt, while its board increased the quarterly dividend by 4.7% to $0.45 per share, payable December 31, 2026.

The company raised its fiscal 2026 adjusted earnings forecast to $12.50–$12.70 per share and operating cash flow guidance to approximately $1.90 billion, while lowering expected revenue to $18 billion–$18.20 billion.

Leidos attributed the revised revenue outlook to its October 5 joint venture transaction with Altaris, year-to-date financial performance and updated business expectations.

Headquartered in Reston, Virginia, Leidos provides defense technology, cybersecurity, engineering and government services, supporting national security, healthcare, infrastructure and other federal and commercial operations.