$LDOS (+0%) | Leidos Q3'24 Earnings Highlights:

🔹 Adjusted EPS: $2.93 (Est. $2.01) 🟢; UP +44% YoY

🔹 Revenue: $4.19B (Est. $4.07B) 🟢; UP +7% YoY

🔹 Net Income: $362M; Net Income Margin: 8.6%

🔹 Adjusted EBITDA: $596M; Margin: 14.2% (vs. 11.5% YoY) 🟢

FY24 Guidance:

🔹 Adjusted EPS: $9.80-$10.00 (Est. $9.08) 🟢

🔹 Revenue: $16.35B-$16.45B (Est. $16.3B) 🟢

🔹 Adjusted EBITDA Margin: High-12%

🔹 Operating Cash Flow: ~$1.35B

Business Performance:

🔸 Net Bookings: $8.1B

🔸 Backlog: $40.6B (Funded: $9.1B)

🔸 Book-to-Bill Ratio: 1.9 (Quarter), 1.1 (Trailing 12 Months)

Key Awards:

🔹 VBA Medical Disability Exams – Option year extension for VA/DOD services

🔹 Army Global Unified Network Modernization – $331M contract (5 years)

🔹 Air Force ABMS-DI Network – $303M contract (5 years)

🔹AIE Next Generation Support – $249M contract (6 years)

Cash Flow & Capital Allocation:

🔹 Operating Cash Flow: $656M

🔹 Free Cash Flow: $633M

🔹 Share Repurchases: $203M

🔹 Dividend: $0.40/share (UP +5.3% YoY, payable December 31, 2024)