Leidos Holdings, a leading computer-services company, has recently announced impressive earnings for the year ended Dec. 29. This positive news has resulted in a surge in its shares, with an increase of 6.2% to $121.68. The stock closed at an almost four-year high of $114.56 the day before.
Revenue for the year reached a remarkable $15.44 billion, surpassing the company’s initial forecast of $15.1 billion to $15.3 billion. This outstanding performance aligns with the consensus expectation of 14 analysts who predicted revenue of $15.3 billion.
Leidos credits this success to increased demand across all customer groups, especially within its Health segment. The company’s ability to meet and exceed market demand has driven its positive financial results.
Adjusted earnings per share also exceeded expectations, ringing in at $7.30. Leidos had initially projected earnings of $6.80 to $7.10 per share, but FactSet analysts had predicted $7.05 per share.
Looking ahead, Leidos is confident about its future prospects. In 2024, the company aims to achieve even greater success, with expected revenue ranging from $15.7 billion to $16.1 billion and adjusted earnings per share ranging between $7.50 and $7.90.
This remarkable performance demonstrates Leidos Holdings’ commitment to delivering exceptional results and consolidating its position as a leader in the computer-services industry.
