NYSE$LDOS
Leidos Holdings Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Leidos reported strong Q4 2023 results, exceeding guidance ranges with record top- and bottom-line performance.
Leidos Holdings, Inc. reported an 8% increase in revenue for the fourth quarter of 2023, reaching $3.98 billion. Diluted earnings per share increased by 30% to $1.66, and non-GAAP diluted earnings per share increased by 9% to $1.99. The company's focus on cost controls and cash generation contributed to exceeding guidance ranges.
- Revenues for the fourth quarter were $3.98 billion, up 8% year-over-year.
- Diluted earnings per share for the fourth quarter were $1.66, up 30% year-over-year.
- Non-GAAP diluted earnings per share for the fourth quarter were $1.99, up 9% year-over-year.
- Net bookings totaled $2.8 billion in the fourth quarter, representing a book-to-bill ratio of 0.7.
Headline financials
Revenue & EPS history
Leidos · Revenue · Quarterly
$3.98B
Revenue by segment
Leidos · $2.07B total across 3 segments · Q3 2023
- Health & Civil$1.06B+20.7%51.0%
- Commercial & International$552M—26.7%
- Defense Systems$462M—22.3%
Forward guidance
Leidos is initiating fiscal year 2024 guidance with revenues between $15.7 - $16.1 billion, adjusted EBITDA margin in the mid-to-high 10% range, non-GAAP diluted EPS between $7.50 - $7.90, and cash flows provided by operating activities of approximately $1.1 billion.
Tailwinds
- Revenues between $15.7 - $16.1 billion
- Adjusted EBITDA Margin in the mid-to-high 10% range
- Non-GAAP Diluted EPS between $7.50 - $7.90
- Cash Flows Provided by Operating Activities approximately $1.1 billion
Headwinds
- Cash flows provided by operating activities reflects approximately $60 million of cash tax payments related to the Tax Cuts and Jobs Act of 2017 provision
- The actual impact on cash flows provided by operating activities will depend on the amount of research and development costs Leidos will incur
- The actual impact on cash flows provided by operating activities will depend on whether Congress modifies or repeals this provision
- The actual impact on cash flows provided by operating activities will depend on whether new guidance and interpretive rules are issued by the US Treasury
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 2023
-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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