Filing Flows › Leidos Holdings (LDOS) › Q1 2026
Leidos Holdings (LDOS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Leidos Holdings (LDOS) reported revenue of $4.4B for the first quarter 2026 (Q1 2026), +4% from a year earlier and +5% from the quarter before. Operating margin was 11.5%, net earnings $328M (7.5% of revenue).
Leidos Holdings, Q1 2026: revenue $4.4B (+4% year over year), operating margin 11.5%, net earnings $328M, operating cash flow $301M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4B | +5% | +4% |
| Operating profit | $508M | +7% | -4% |
| Net earnings | $328M | +0.3% | -10% |
| Operating cash flow | $301M | -39% | +419% |
| Free cash flow | $270M | — | +650% |
What changed
Revenue was $4.4B in Q1 2026, up 4% year over year and up 5% from the previous quarter. Intelligence & Digital was the largest line at 34% of revenue. Intelligence & Digital added $0.10B year over year (up 7%), 65% of the total change.
Operating profit was $0.51B, a 11.5% margin (down 0.9 points year over year). Operating profit fell $0.02B even though revenue rose $0.15B versus Q1 2025, so costs grew faster than sales. Total costs grew 5% against revenue growth of 4%. Net earnings were $0.33B, down 10% year over year. The effective tax rate was 21.9%.
Operating cash flow was $0.30B (up 419% year over year), 90% of net income including minority interests. Non-cash charges added back $0.07B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.13B. After payments for property, equipment and software ($0.03B), free cash flow as the company reports it was $0.27B.
Questions
What was Leidos Holdings' revenue in the first quarter 2026?
Leidos Holdings (LDOS) reported revenue of $4.4B for the first quarter 2026 (Q1 2026), +4% from a year earlier and +5% from the quarter before.
Was Leidos Holdings profitable in the first quarter 2026?
Operating profit was $508M (11.5% of revenue) and net earnings $328M.
Source: Leidos Holdings 10-Q on SEC EDGAR.