Leidos Holdings, Inc. reported a revenue increase of 8% for the fiscal year ending January 3, 2025, reaching $16.7 billion, compared to $15.4 billion in the previous year. The company's operating income surged to $1.8 billion, a significant rise from $621 million in fiscal 2023, primarily due to the absence of substantial impairment charges that had impacted the previous year’s results. The operating margin improved to 11% from 4% in the prior year, reflecting enhanced program execution and increased volumes on certain contracts.
The company underwent a strategic realignment in fiscal 2024, restructuring its operations into four reportable segments: National Security & Digital, Health & Civil, Commercial & International, and Defense Systems. This change was aimed at better aligning its capabilities with customer needs and market demands. Notably, the Health & Civil segment experienced an 18% revenue increase, driven by higher volumes and case complexity in managed health services, while the National Security & Digital segment saw a modest 2% growth.
Leidos also reported a total backlog of $43.6 billion as of January 3, 2025, with $8.4 billion classified as funded backlog. The company secured net bookings of $23.4 billion during the fiscal year, indicating strong demand for its services. Approximately 87% of total revenues were generated from U.S. government contracts, with the Department of Defense and U.S. Intelligence Community accounting for about 48% of total revenues. The company continues to face competitive pressures in the government contracting space, particularly due to shifts towards multiple-award contracts and increased pricing competition.
In terms of workforce, Leidos employed approximately 48,000 individuals globally, with a significant portion holding degrees in science, technology, engineering, or mathematics. The company emphasized its commitment to employee development and retention, which is critical given the competitive landscape for skilled talent in the defense and technology sectors. Looking ahead, Leidos anticipates continued growth driven by its strategic initiatives and the ongoing demand for its services, although it remains cautious about potential impacts from government budgetary constraints and geopolitical uncertainties.
About Leidos Holdings, Inc.
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