Leidos (NYSE: LDOS) reported Q1 EPS of $1.73, $0.25 better than the analyst estimate of $1.48. Revenue for the quarter came in at $3.32 billion versus the consensus estimate of $3.25 billion.

Roger Krone, Leidos Chairman and Chief Executive Officer, commented: "First quarter results reflect the perseverance, focus and tremendous execution of our employees and business partners. New quarterly record levels of revenue, non-GAAP EPS and backlog were achieved, and significant organic growth was delivered across all business segments. This early momentum favorably positions Leidos to deliver on our full year financial commitments."

GUIDANCE:

Leidos sees FY2021 EPS of $6.35-$6.65, versus the consensus of $6.38. Leidos sees FY2021 revenue of $13.7-14.1 billion, versus the consensus of $13.88 billion.

As a result of the Company's year-to-date performance and updated expectations, the Company is revising its fiscal year 2021 guidance as follows:

• Revenues of $13.7 billion to $14.1 billion, remained unchanged from previous guidance;
• Adjusted EBITDA margins of 10.5% to 10.7%, up from 10.3% to 10.5%;
• Non-GAAP diluted EPS of $6.35 to $6.65, up from $6.15 to $6.45; and
• Cash flows provided by operating activities at or above $875 million, up from previous guidance of $850 million.

For earnings history and earnings-related data on Leidos (LDOS) click here.