Defense Stock Leidos Q2 Revenue Surges 8%, Raises Annual Outlook
Portfolio Pulse from Anusuya Lahiri
Leidos Holdings, Inc (NYSE:LDOS) reported strong Q2 fiscal 2024 results with an 8% revenue increase to $4.13 billion, beating analyst estimates. Adjusted EPS rose 46% to $2.63, also surpassing expectations. The company raised its annual revenue and EPS outlook. Despite these positive results, LDOS shares are trading 3.29% lower.
July 30, 2024 | 5:49 pm
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Leidos Holdings reported strong Q2 fiscal 2024 results with an 8% revenue increase to $4.13 billion, beating analyst estimates. Adjusted EPS rose 46% to $2.63, also surpassing expectations. The company raised its annual revenue and EPS outlook. Despite these positive results, LDOS shares are trading 3.29% lower.
Leidos Holdings reported better-than-expected Q2 results and raised its annual outlook, which is generally positive for the stock. However, the immediate 3.29% drop in share price suggests a potential short-term correction or profit-taking by investors. The strong financial performance and raised outlook should support the stock in the medium to long term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100