RESTON, Va. - Leidos (NYSE: LDOS), a recognized Fortune 500 innovation company, has secured a contract to continue providing cargo mission support to NASA's International Space Station (ISS) and Artemis program. The contract, valued at $476 million, includes a two-year base period and will be primarily executed at the company's Webster, Texas facilities.
The contract involves analytical and physical processing for NASA missions, including engineering, maintenance, and operations support. Additionally, Leidos is tasked with developing, fabricating, and certifying hardware to meet mission objectives and implementing manifest requirements for launch, return, and disposal of supplies necessary to sustain human presence in space.
Leidos has been a long-term partner with NASA, supporting over 160 ISS Visiting Vehicle Missions and delivering over 310,000 pounds of cargo and science. The company has also been involved in over 85 ISS Return Vehicle Missions, recovering and distributing over 115,000 pounds of science and cargo since 2004.
A notable contribution from Leidos includes the Exploration Potable Water Dispenser (xPWD), which provides astronauts with potable water for food and beverage rehydration. The xPWD was successfully installed on the ISS on August 30, 2023.
Leidos' president of Health & Civil sector, Liz Porter, highlighted the company's role in advancing human spaceflight, addressing challenges such as safe water provision and the effects of radiation and microgravity on long-duration missions. Debbie Wells, Leidos vice president of Space Exploration and Mission Operations, emphasized the importance of crew-sustaining provisions for mission success, a field where Leidos has over two decades of experience.
The company, headquartered in Reston, Virginia, employs 47,000 people and reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023. While Leidos is optimistic about its future contributions to space exploration, it cautions that forward-looking statements are subject to risks and uncertainties.
This article is based on a press release statement from Leidos Holdings (NYSE:LDOS), Inc.
In other recent news, Leidos has been making significant strides in securing substantial contracts and demonstrating its technological capabilities.
The company was awarded a $738 million contract to continue providing IT and telecommunications support to various U.S. Air Force and Space Force components. In addition, Leidos secured a $631 million contract with the U.S. Army's DIABLO program and a $206 million contract with the National Geospatial-Intelligence Agency.
Leidos has also been selected to overhaul North Dakota's Medicaid Management Information Systems, a move aimed at enhancing healthcare experiences for all stakeholders involved in the state's Medicaid program.
The company's expertise in technology modernization will be leveraged to develop solutions that support data-driven decision-making and prepare North Dakota for future technological advancements.
Furthermore, Leidos showcased its AI capabilities at its Trusted Mission AI Investor Day, an event that received attention from RBC (TSX:RY) Capital Markets. The firm maintained its 'Sector Perform' rating on Leidos, noting the potential for a reevaluation of the company's stock value due to its engagement in AI technologies.
The company's strong quarterly results led to upward revisions in its full-year guidance. In response, both Truist Securities and Baird increased their price targets for the company's stock.
InvestingPro Insights
Leidos (NYSE: LDOS), with its recent contract to support NASA's ISS and Artemis program, demonstrates its pivotal role in the aerospace sector, a position that is underscored by the company's financial and market performance. As of the last twelve months as of Q1 2024, Leidos boasts a substantial market capitalization of $20.12 billion, reflecting investor confidence in its business operations and growth potential.
An InvestingPro Tip worth noting is that Leidos has raised its dividend for 5 consecutive years, showcasing a commitment to shareholder returns. Additionally, the company has maintained dividend payments for 13 consecutive years, which is a testament to its financial stability and consistent performance.
The company's revenue growth of 7.62% over the last twelve months as of Q1 2024 also indicates a solid upward trajectory in its earnings capability. Moreover, Leidos has been trading near its 52-week high, with the price at 98.36% of this peak, which could suggest market optimism around the company's value and future prospects.
Investors and analysts looking to delve deeper into Leidos' financial health and stock performance can find more InvestingPro Tips, with a total of 15 available, by visiting https://www.investing.com/pro/LDOS. For those considering an InvestingPro subscription, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking further insights that could help in making informed investment decisions.
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