Filing Flows › Leidos Holdings (LDOS) › Q2 2026
Leidos Holdings (LDOS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Leidos Holdings (LDOS) reported revenue of $4.6B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +4% from the quarter before. Operating margin was 11.3%, net earnings $354M (7.8% of revenue).
Leidos Holdings, Q2 2026: revenue $4.6B (+7% year over year), operating margin 11.3%, net earnings $354M, operating cash flow $793M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +4% | +7% |
| Operating profit | $514M | +1% | -10% |
| Net earnings | $354M | +8% | -9% |
| Operating cash flow | $793M | +163% | +63% |
| Free cash flow | $761M | — | +67% |
What changed
Revenue was $4.6B in Q2 2026, up 7% year over year and up 4% from the previous quarter. Intelligence & Digital was the largest line at 33% of revenue. Homeland added $0.25B year over year (up 32%), 81% of the total change. Health declined 7%.
Operating profit was $0.51B, a 11.3% margin (down 2.1 points year over year). Operating profit fell $0.06B even though revenue rose $0.30B versus Q2 2025, so costs grew faster than sales. Total costs grew 10% against revenue growth of 7%. The fastest-growing cost line was SG&A (+30%). Net earnings were $0.35B, down 9% year over year. The effective tax rate was 21.1%.
Operating cash flow was $0.79B (up 63% year over year), 223% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.33B. After payments for property, equipment and software ($0.03B), free cash flow as the company reports it was $0.76B.
Questions
What was Leidos Holdings' revenue in the second quarter 2026?
Leidos Holdings (LDOS) reported revenue of $4.6B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +4% from the quarter before.
Was Leidos Holdings profitable in the second quarter 2026?
Operating profit was $514M (11.3% of revenue) and net earnings $354M.
Source: Leidos Holdings 10-Q on SEC EDGAR.