Leidos Q2 revenue rises 7% to $4.56 billion; company raises 2026 guidance
Leidos reported second-quarter fiscal 2026 revenue of $4.56 billion, up 7% year-over-year, while GAAP net income fell 9% to $356 million and GAAP diluted EPS fell to $2.81 from $3.01. The company raised its fiscal 2026 guidance for revenue, non-GAAP diluted EPS and operating cash flow, but GAAP profit declined from the prior year.
Key points
- Revenue $4.56 billion, up 7% (4% organic); GAAP diluted EPS $2.81 vs. $3.01 a year earlier
- Non-GAAP diluted EPS $3.26, up 2%; adjusted EBITDA $631 million, down 2%, with margin of 13.8% vs. 15.2%
- FY26 guidance raised: revenue $18.20–$18.40 billion (from $18.00–$18.40 billion); non-GAAP diluted EPS $12.20–$12.50 (from $12.10–$12.50); operating cash flow about $1.85 billion (from about $1.80 billion)
- Quarterly bookings $4.9 billion; backlog $48.7 billion; $5 billion of contract awards cited by CEO Tom Bell
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 03, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.