Stock Alert: Leidos Holdings Shares Up 4%

(RTTNews) - Shares of Leidos Holdings Inc. (LDOS) are rising over 5% Monday morning, after the company updated fiscal 2020 guidance, and better-than-expected Q3 results. The stock has been trading in the range of $68.00 - $125.84 for the past one year, and are currently trading at $86.65, up $3.65 or 4.40% in the regular session today.

FY20 Outlook

For fiscal 2020, the company currently projects non-GAAP earnings in the range of $5.65 - $5.85 per share compared to the prior forecast range of $5.25 - $5.55 per share. Revenue for the year 2020 is now expected to range between $12.3 billion and $12.5 billion, versus the previously communicated range of $12.2 billion - $12.6 billion. Wall Street analysts estimate earnings of $5.47 per share on revenue of $12.4 billion for 2020.

Q3 Results

The company's Q3 net income was $163 million or $1.13 per share compared to $161 million or $1.11 per share last year. On a non-GAAP basis, net income increased to $212 million or $1.47 per share versus $197 million or $1.36 per share a year ago.

Revenues for the quarter amounted to $3.24 billion, higher than the previous year's revenue of $2.84 billion.

Analysts polled by Thomson Reuters expected earnings of $1.23 per share on revenue of $3.17 billion for the quarter. Analysts' estimate typically exclude certain special items.