WASHINGTON (dpa-AFX) - (Adds Outlook)
Leidos Holdings, Inc. (LDOS) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $162 million, or $1.17 per share. This compares with $205 million, or $1.43 per share, in last year's third quarter.
Excluding items, Leidos Holdings, Inc. reported adjusted earnings of $219 million or $1.59 per share for the period.
Analysts on average had expected the company to earn $1.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.7% to $3.61 billion from $3.48 billion last year.
Outlook:
The company updated its full-year adjusted earnings guidance to $6.20 - $6.40 per share compared with its earlier guidance of $6.10 - $6.50.
Revenue for the year 2022 is now expected between $14.2 billion and $14.4 billion. This is higher than its prior guidance of $13.9 billion - $14.3 billion.
Analysts on average expect the company to report earnings of $6.36 a share on revenue of $14.23 billion.
Leidos Holdings, Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $162 Mln. vs. $205 Mln. last year. -EPS (Q3): $1.17 vs. $1.43 last year. -Analyst Estimates: $1.57 -Revenue (Q3): $3.61 Bln vs. $3.48 Bln last year.
-Guidance: Full year EPS guidance: $6.20 - $6.40 Full year revenue guidance: $14.2 - $14.4 Bln
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