Leidos

“We have delivered two Tranche 1 payloads to Northrop with the remaining ones coming this year.”

Leidos supplies SDA Tranche 1 satellite payloads to Northrop Grumman, a customer/prime relationship.

“last month, we agreed to acquire Entrust Solutions Group.”

Leidos agreed to acquire energy-engineering firm Entrust Solutions Group to scale its energy pillar.

“In May, we acquired Kudu Dynamics, bringing exquisite cyber capabilities to our cyber growth pillar and providing deep differentiators across the company.”

Leidos acquired Kudu Dynamics to build its cyber growth pillar; described as performing exceptionally well.

“In addition, given our sharpened strategic focus through our NorthStar 2030 strategy, I'm pleased that we recently completed the divestiture of Varec, a noncore legacy energy asset, acquired in 2006, the disposition of this asset will allow both Leidos and Varec to advance their respective missions and best maximize long-term value.”

Leidos divested Varec, a noncore legacy energy asset, as part of portfolio shaping under its NorthStar 2030 strategy.

“We also generated $26 million in revenues at attractive margins from the acquisition of Kudu Dynamics.”

Leidos reported its first full quarter of revenue ($26M) from the acquired Kudu Dynamics, integrating it into National Security & Digital.

“First, we closed the Kudu Dynamics acquisition for preliminary purchase consideration of $291 million, net of $29 million of cash acquired.”

Deal terms for Leidos' Kudu Dynamics acquisition, closed in the quarter for roughly $291 million net of acquired cash.

“It also bears mentioning today that I am encouraged by the first fruits of our Kudu acquisition. As a result of fast integration of Kudu into our business, we've already added $400 million in pipeline opportunities that neither company was pursuing separately.”

Leidos' recently closed acquisition of Kudu Dynamics is already generating $400 million of new combined pipeline opportunities, an early sign of integration success.

“We're a key technology provider for NATS in the UK, which is a very successful country-wide air traffic control system.”

Leidos supplies air traffic control technology to NATS, the UK's national air navigation service provider, as part of its Commercial & International segment growth story.

“we've had a long successful partnership with Oracle, of course, on the military health side.”

Leidos is a longstanding subcontractor to Oracle on the VA's EHR (electronic health record) modernization program, with management flagging the relationship as a positive long-term partnership.

“Moody's to change their outlook to positive with the potential to upgrade to Baa1 within the next 12 months”

Moody's revised Leidos' outlook to positive with a potential upgrade to Baa1 within a year, another sign of improving credit quality following debt paydown.

“led S&P to enhance our investment-grade rating to BBB flat”

S&P upgraded Leidos' credit rating to BBB flat, reflecting the company's deleveraging and strong 2024 financial performance.

“we're sub to Kratos and happy to do that”

Leidos moved from prime contractor to subcontractor under Kratos on the MACH-TB hypersonic testbed program's 2.0 phase, a relationship management described as one it knows well and is comfortable with.