Leidos misses quarterly revenue estimates on government shutdown impact

Feb 17 (Reuters) - Defense contractor Leidos Holdings reported fourth-quarter gross beneath Wall Street estimates, arsenic the ‌six-week agelong U.S. authorities shutdown past twelvemonth weighed ‌on the firm's orders.

The shutdown, the longest successful the country's history, ​ended successful November aft severely disrupting authorities operations and weighing connected contractors specified arsenic Leidos, which provides IT, weapons and different services to national agencies.

Shares of Leidos, which besides ‌supplies aerial postulation power ⁠systems to the Federal Aviation Administration, fell 1.6% successful premarket trading.

Last month, defence supplier ⁠L3Harris Technologies besides flagged a deed from the shutdown, mostly successful its abstraction systems business.

Leidos' gross during the 4th ​quarter came ​in astatine $4.21 billion, down ​3.6% from past year, ‌and little than analysts' estimates of $4.31 billion, according to information compiled by LSEG.

Results besides took a deed from a 9.3% driblet successful income successful its wellness and civilian segment, which provides physics wellness grounds systems to some ‌the Department of Defense and ​Veteran Affairs hospitals.

On an adjusted basis, ​however, the Reston, ​Virginia-based company's fourth-quarter nett per stock of $2.76 ‌beat expectations of $2.61, helped by ​a 160-basis constituent ​expansion successful its adjusted halfway nett borderline and accrued outgo controls.

Leidos forecast 2026 adjusted nett betwixt $12.05 and $12.45 ​per share, ‌the midpoint of which is 4 cents little ​than analysts' estimates of $12.29.

(Reporting by Aishwarya Jain successful ​Bengaluru; Editing by Devika Syamnath)