Leidos Holdings Raises FY23 Guidance - Update

(RTTNews) - Engineering solutions provider Leidos Holdings, Inc. (LDOS), while announcing that it has slipped into loss despite higher revenues in its third quarter, on Tuesday raised its fiscal 2023 earnings and revenue guidance.

For the year, the company now expects adjusted earnings per share of $6.80 to $7.10. The company previously was expecting $6.40 to $6.80.

On average, 14 analysts polled by Thomson Reuters expect earnings of $6.68 per share for the year. Analysts' estimates typically exclude special items.

In its third quarter, the company reported a loss of 399 million, or $2.91 per share, compared with earnings of $162 million, or $1.17 per share, in last year's third quarter.

Analysts had expected the company to earn $1.67 per share.

However, company's revenue for the quarter rose 9% to $3.92 billion from $3.60 billion last year.

On Monday, Leidos shares closed at $91.79, up 1.44% on the New York Stock Exchange.

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