RESTON, Va. - Leidos (NYSE:LDOS), a Fortune 500 company specializing in national security and health, has been awarded a contract by the Space Systems Command to enhance missile warning and tracking capabilities. The contract, focusing on the Combatant Commanders Integrated Command and Control Systems (CCIC2S), has a base period of 54 months.
Under the terms of the contract, Leidos will be responsible for providing mission software, Model Based Systems Engineering, Development/Security/Operations, software integration, and deployment services. These efforts aim to improve the processing of non-traditional data sources and the fusion of weapons systems data, which will contribute to the accuracy of missile warning and missile track (MW/MT) systems.
Jason McCarthy, Leidos senior vice president, highlighted the company's commitment to delivering advanced solutions that bolster national security. Leidos intends to enhance the CCIC2S by enabling open architecture solutions, which are expected to expedite system modifications and reduce the overall cost of ownership for customers.
Leidos, headquartered in Reston, Virginia, is known for addressing complex challenges in national security and health sectors. With approximately 48,000 employees, the company reported annual revenues of about $15.4 billion for the fiscal year ending December 29, 2023.
The announcement also contained forward-looking statements relating to the company's expectations and are subject to risks and uncertainties. These do not guarantee future results and are based on current management beliefs. The company's actual results may differ due to various factors, as detailed in their SEC filings, including their Annual Report on Form 10-K for the fiscal year ended December 29, 2023.
This news is based on a press release statement from Leidos Holdings (NYSE:LDOS), Inc. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol LDOS.
In other recent news, Leidos Holdings, Inc. has made significant strides in its business operations. The company reported a record quarter, with a 7.7% year-over-year increase in revenue, reaching $4.13 billion. The adjusted EBITDA also saw a substantial rise, hitting $559 million, a 33% increase from the previous year. Following these robust results, Leidos raised its full-year guidance.
Furthermore, Leidos has secured three major contracts recently. The first is a $326.5 million contract by the National Institutes of Health to support the eRA system. The second is an $86.4 million contract from the National Geospatial-Intelligence Agency for lifecycle management of analytics systems. The third is a $191 million contract to provide the U.S. Army with integrated lifecycle software and management solutions.
Leidos' revenue guidance for 2024 has been raised to a range of $16.1 billion to $16.4 billion, with adjusted EBITDA expected to be around 12%. These are recent developments in the company's performance and strategic focus.
InvestingPro Insights
Leidos (NYSE:LDOS) continues to demonstrate its commitment to growth and stability in the national security and health sectors. The company's dedication to enhancing defense capabilities is supported by a robust financial performance, as reflected in the latest InvestingPro data. With a market capitalization of $20.86 billion, Leidos stands as a significant player in the industry. The company's Price/Earnings (P/E) ratio is currently 48.3, indicating a premium valuation by the market, which may be attributed to its specialized services and consistent performance.
InvestingPro Tips reveal that Leidos has raised its dividend for five consecutive years, showcasing a commitment to returning value to shareholders. Moreover, the company has maintained dividend payments for 13 consecutive years, further emphasizing its financial reliability. Leidos's net income is expected to grow this year, which could be a positive signal for investors looking for companies with a trajectory of profitability. It is also noteworthy that Leidos operates with a moderate level of debt, allowing for strategic flexibility and potential for continued investment in growth opportunities.
For those interested in a deeper dive into the company's financial health and future prospects, InvestingPro provides additional tips. There are currently 10 more InvestingPro Tips available for Leidos at https://www.investing.com/pro/LDOS, which can offer investors a more comprehensive understanding of the company's potential and performance nuances.
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