Leidos lifts annual forecasts on strong defense demand

Aug 4 (Reuters) - Defense ‌supplier Leidos ​Holdings ​lifted the lower end of its 2026 profit and revenue ‌forecasts, banking on strong demand for military ⁠technology amid heightened geopolitical tensions.

Shares of the company ‌rose nearly 10% in ‌morning trading.

Here are some details:

• Defense contractors have been benefiting as the U.S. ​government prioritizes military spending, with Trump proposing a record a record military ⁠budget of $1.5 trillion for fiscal 2027.

• Leidos reported increased demand ​for defense tech products, energy and air traffic management solutions as well ​as support for intelligence ‌missions.

• It lifted the lower end of its 2026 adjusted profit ⁠per share forecast to $12.20 from $12.10, while keeping the upper end unchanged at $12.50.

• The midpoint ⁠of the new forecast is above analysts' expectations of $12.33 ​a share, according to data compiled by LSEG

• Leidos expects full-year revenue between $18.2 billion and $18.4 billion, ‌compared with $18 billion to $18.4 billion expected previously.

• It posted a second-quarter ‌revenue of $4.56 billion, up 7% from ⁠last year and higher ‌than Wall ​Street estimates of $4.44 billion.

(Reporting by Aishwarya Jain in Bengaluru; Editing by Sahal ‌Muhammed)

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