Leidos said that as of July 4, 2025, the enactment of the OBBBA resulted in a decrease of $150 million to income taxes payable and a decrease of $130 million to deferred tax assets. The company estimated that the fiscal 2025 impact will result in a decrease of approximately $280 million to income taxes payable and a decrease of approximately $245 million to net deferred taxes.

1. 01

   Leidos said that as of July 4, 2025, the enactment of the OBBBA resulted in a decrease of $150 million to income taxes payable and a decrease of $130 million to deferred tax assets. The company estimated that the fiscal 2025 impact will result in a decrease of approximately $280 million to income taxes payable and a decrease of approximately $245 million to net deferred taxes.

2. 02

   Leidos said that in February 2025 it issued $500 million of 5.40% senior unsecured notes and $500 million of 5.50% senior unsecured notes, with proceeds used to retire $500 million of senior unsecured notes and repurchase $500 million of outstanding shares of common stock in an accelerated share repurchase agreement. As of July 4, 2025, outstanding debt was $5.1 billion.

3. 03

   Leidos said that in the National Security & Digital segment it recognized $12 million of revenues from the acquisition of Kudu Dynamics and that backlog included $149 million from the acquisition. The company cited $285 million of net cash paid related to the acquisition as a factor in the increase in net cash used in investing activities.

4. 04

   Leidos said that net cash provided by operating activities for the 3 months and 6 months ended July 4, 2025 increased $105 million and $50 million, respectively, compared to the prior year. For the same periods, the company estimated net bookings of approximately $3.9 billion and $6.0 billion, respectively.

Key figures

Quarter ended July 4, 2025

Revenue

$4.2B

Operating income

$571M

Net income

$391M

EPS

$3.01

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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