NYSE$LDOS
Leidos Holdings Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Reported a 7% increase in revenue and a decrease in diluted EPS by 10% compared to the same quarter last year.
Leidos Holdings, Inc. reported Q4 2021 financial results, with revenues increasing by 7% year-over-year to $3.49 billion. Diluted earnings per share decreased by 10% to $1.23, while non-GAAP diluted earnings per share decreased by 4% to $1.56. The company's backlog at the end of fiscal year 2021 was $34.5 billion.
- Revenues for the fourth quarter were $3.49 billion, up 7% year-over-year.
- Diluted earnings per share for the fourth quarter were $1.23, down 10% year-over-year.
- Non-GAAP diluted earnings per share for the fourth quarter was $1.56, down 4% year-over-year.
- Net bookings totaled $3.2 billion, representing a book-to-bill ratio of 0.9.
Headline financials
Revenue & EPS history
Leidos · Revenue · Quarterly
$3.49B
Revenue by segment
Leidos · $2.86B total across 2 segments · Q4 2021
- Defense Systems$2.06B—72.0%
- Health & Civil$800M—28.0%
Forward guidance
Leidos is initiating fiscal year 2022 guidance with revenues between $13.9 - $14.3 billion, adjusted EBITDA margin between 10.3% - 10.5%, non-GAAP diluted EPS between $6.10 - $6.50, and cash flows provided by operating activities at or above $1.0 billion.
Headwinds
- A provision of the Tax Cuts and Jobs Act of 2017 went into effect on January 1, 2022, that requires companies to capitalize and amortize research and development costs over five years rather than deducting such costs in the year incurred for tax purposes.
- Leidos currently estimates that cash flows provided by operating activities would decrease by approximately $150 million in fiscal 2022 if the provision remains in effect.
- Net deferred tax assets would increase by a similar amount if the provision remains in effect.
- The actual impact on cash flows provided by operating activities will depend on the amount of research and development costs the Company will incur.
- The actual impact depends on whether Congress modifies or repeals this provision and on whether new guidance and interpretive rules are issued by the US Treasury, among other factors.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.7%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+1.5%
Avg return
30 days after
48%
31 / 64 earnings
Positive
+10.2%
Q3 2023
Best reaction
-19.7%
Q4 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.8% | -12.6% | -16.2% | |
| Q4 2026 | -8.0% | -1.6% | -5.9% | |
| Q3 2026 | +3.3% | +2.0% | -0.3% | |
| Q1 2025 | +4.7% | +5.2% | -1.7% | |
| Q4 2024 | -3.6% | -7.4% | -6.9% | |
| Q3 2024 | +9.4% | +7.8% | -3.4% | |
| Q2 2024 | -5.6% | -5.0% | +2.9% | |
| Q1 2024 | +8.0% | +7.6% | +10.4% | |
| Q4 2023 | +6.1% | +8.1% | +11.5% | |
| Q3 2023 | +10.2% | +13.2% | +16.9% | |
| Q2 2023 | +5.4% | +3.8% | +4.3% | |
| Q1 2023 | -14.2% | -14.3% | -16.8% | |
| Q4 2022 | -2.8% | +0.5% | -8.1% | |
| Q3 2022 | +2.7% | +4.1% | +7.9% | |
| Q2 2022 | -5.0% | -4.4% | -9.6% | |
| Q1 2022 | +1.2% | -0.3% | +2.1% | |
| Q4 2021 | +1.6% | +6.5% | +19.0% | |
| Q3 2021 | -6.0% | -6.4% | -11.4% | |
| Q2 2021 | -11.8% | -11.9% | -7.4% | |
| Q1 2021 | +0.0% | +0.3% | -0.2% | |
| Q4 2020 | -12.9% | -14.8% | -7.3% | |
| Q3 2020 | +6.0% | +9.0% | +24.2% | |
| Q2 2020 | -8.7% | -5.2% | -9.5% | |
| Q1 2020 | -1.7% | +3.8% | +7.1% | |
| Q3 2019 | +7.3% | +5.6% | +12.6% | |
| Q2 2019 | -1.5% | -1.8% | +4.7% | |
| Q1 2019 | +8.9% | +11.3% | +11.9% | |
| Q4 2018 | -2.7% | +1.8% | +0.6% | |
| Q3 2018 | -2.2% | +0.8% | +0.5% | |
| Q2 2018 | +7.4% | +7.3% | +10.1% | |
| Q1 2018 | -3.1% | -0.8% | -1.9% | |
| Q4 2017 | +1.0% | +0.0% | -0.3% | |
| Q3 2017 | +1.3% | -0.4% | -0.8% | |
| Q2 2017 | +7.5% | +8.4% | +12.4% | |
| Q1 2017 | +1.6% | -2.0% | +4.4% | |
| Q4 2016 | +1.8% | +0.3% | -1.0% | |
| Q3 2016 | +6.2% | +5.6% | +25.1% | |
| Q2 2016 | -4.4% | -7.6% | -24.4% | |
| Q1 2016 | -3.8% | — | — | |
| Q4 2015 | -5.4% | — | — | |
| Q3 2015 | +8.2% | — | — | |
| Q2 2015 | +6.9% | — | — | |
| Q1 2015 | -5.6% | — | — | |
| Q4 2014 | -9.1% | — | — | |
| Q3 2014 | +1.8% | — | — | |
| Q2 2014 | -6.9% | — | — | |
| Q1 2014 | +6.4% | — | — | |
| Q4 2013 | -19.7% | — | — | |
| Q3 2013 | -0.4% | — | — | |
| Q2 2013 | -5.4% | — | — | |
| Q1 2013 | +1.9% | — | — | |
| Q4 2012 | +3.3% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q2 2012 | +3.5% | — | — | |
| Q1 2012 | -1.8% | — | — | |
| Q1 2011 | -3.4% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q1 2010 | -0.8% | — | — | |
| Q4 2011 | -0.8% | — | — | |
| Q3 2010 | -6.7% | — | — | |
| Q3 2011 | -6.7% | — | — | |
| Q2 2011 | +1.1% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q2 2010 | +1.1% | — | — |
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