LDOS Leidos (LDOS) Q2 FY26 earnings call
Leidos delivered a strong second quarter, driven by robust performance in Defense and Homeland segments, leading to raised full-year guidance despite headwinds in the Health segment. The company's NorthStar 2030 strategy is showing results, with accelerating customer procurement activity and a focus on defense tech, energy, and cyber growth pillars. Management is actively positioning for the upcoming VBA recompete while navigating administrative changes.
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LDOS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Book-to-bill ratio | 0.8 ratioStill, we're pleased with the solid book-to-bill ratio of 0.8 in the quarter and 1.1x for the trailing 12 months.Source: earnings call transcript | 1.1 ratioOperating cash flow reached a Q2 record of nearly $800 million and we booked $5 billion in net awards, delivering a solid 1.1 book-to-bill ratio.Source: earnings call transcript | +37.5% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.