Leidos earnings date and guidance
MyStockButler's October 2026 analysis: Leidos's next results are expected on November 3, 2026. Watch whether Health's margin holds after changes to Veterans Benefits Administration medical-examination contracts.
What has Leidos guided for fiscal 2026?
For fiscal 2026, management guides to revenue of $18.20–$18.40 billion and adjusted EBITDA margin in the mid-13% range. It also guides to non-GAAP diluted EPS of $12.20–$12.50 and operating cash flow of $1.85 billion.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenues (B) | Fiscal 2026 | 18.20 | 18.40 | Aug 4, 2026 |
| Adjusted EBITDA Margin | Fiscal 2026 | Mid 13% | Mid 13% | Aug 4, 2026 |
| Non-GAAP Diluted EPS | Fiscal 2026 | 12.20 | 12.50 | Aug 4, 2026 |
| Cash Flows Provided by Operating Activities (B) | Fiscal 2026 | 1.85 | 1.85 | Aug 4, 2026 |
Has Leidos kept its past promises?
The compensation committee also excluded a $150 million tax-law benefit from the cash-flow result used for pay. Executives therefore did not receive credit for that windfall. Against the original 2025 forecast, adjusted earnings per share rose from a range of $10.35–$10.75 to $11.99, while operating cash flow rose from about $1.45 billion to $1.75 billion. That is a favorable accountability record.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Revenues | 4 years | 3 | 1 | 0 |
| Adjusted EBITDA Margin | 4 years | 3 | 1 | 0 |
| Non-GAAP Diluted EPS | 4 years | 4 | 0 | 0 |
| Cash Flows Provided by Operating Activities | 4 years | 2 | 1 | 1 |
What this means. For the adjusted earnings margin, the company only said “around 13 percent” and gave no exact range, so the above, within, or below judgment is less precise.
What do Leidos's last eight quarters show?
The July 2026 quarter combined faster sales and stronger cash with weaker earnings in Leidos’s most profitable segment. Revenue grew 7.2%, but organic growth was only 3.9%, while operating income, margin and EPS all declined.
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,558 | 4,400 | 4,207 | 4,469 | 4,253 | 4,245 | 4,365 | 4,190 |
| Operating income | 514 | 508 | 473 | 535 | 571 | 530 | 421 | 516 |
| Net income | 354 | 328 | 327 | 367 | 391 | 363 | 284 | 364 |
| EPS, diluted | 2.81 | 2.56 | 2.53 | 2.82 | 3.01 | 2.77 | 2.12 | 2.68 |
What this means. Revenue rose partly because the company bought Entrust, so the increase does not all come from selling more products itself.
What should Leidos watchers watch next?
The nearest test is November 3, 2026, when Leidos is scheduled to report Q3 results. Management expects Health’s non-GAAP operating margin to be around 20% for the rest of the year after changes to Veterans Benefits Administration medical-examination contracts. Revenue can fall while margin holds if Leidos cuts costs, uses technology, or retains higher-margin work.