| Metric | Value ($ M) | Q1 FY26 |
|---|---|---|
| Revenue | 4.4K | 3.7% |
| Total Income | 4.4K | 3.7% |
| Expenditure | 3.9K | 4.8% |
| PBT | 429.00 | 10.3% |
| Net Profit | 328.00 | 9.6% |
| OPM | 11.59% | 0.95pp |
| NPM | 7.48% | 1.10pp |
| EPS | 2.60 | 6.8% |
Leidos Reports Strong Q1 FY26 Results, Raises Full-Year Guidance
05 May 2026 · 5 May, 3:38 pm
Summary
Leidos Holdings, Inc. reported strong first quarter results for fiscal year 2026, with revenues up 4% year-over-year to $4.4 billion. Net income was $335 million, or $2.56 per diluted share, while adjusted EBITDA reached $614 million. The company is raising its fiscal year 2026 guidance for revenue, earnings, and cash flow, and sees the second half of 2026 as a launchpad for multiyear growth acceleration. Net bookings totaled $3.3 billion, and backlog at the end of the quarter was $48.4 billion.
Key Highlights
- 1
Leidos reported revenues of $4.4 billion for the first quarter, up 4% year-over-year.
- 2
Net income for the quarter was $335 million, or $2.56 per diluted share.
- 3
Adjusted EBITDA reached $614 million with an Adjusted EBITDA margin of 14.0% for the first quarter.
- 4
Non-GAAP Diluted Earnings per Share increased by 5% year-over-year to $3.13.
- 5
Cash Flows from Operations amounted to $301 million, with Non-GAAP Free Cash Flow at $270 million.
- 6
Net bookings totaled $3.3 billion, resulting in a book-to-bill ratio of 0.8, and backlog at the end of the quarter was $48.4 billion.
- 7
Leidos is raising its fiscal year 2026 revenue guidance to $18.00 - $18.40 billion.
Management Comments
Tom Bell
"Leidos delivered strong first quarter performance, as our teams worked proactively with customers to drive improved mission outcomes early in the year." "Also importantly, with the quick close of the Entrust acquisition and the signing of our security products joint venture, we're actively executing our NorthStar 2030 strategy while supporting our nation's highest priority objectives. Given all this and our ongoing confidence in our business, we're pleased to raise our revenue, earnings, and cash guidance for the year. And we continue to see the second half of 2026 as the launchpad for multiyear growth acceleration."
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