Leidos(LDOS) - 2024 Q2 - Quarterly Report

Revenue Performance - Revenues for the three months ended June 28, 2024, increased to $561 million, a 2.6$547 million for the same period in 2023[91] - Revenues for the six months ended June 28, 2024, reached $1,070 million, reflecting a 3.3$1,036 million for the same period in 2023[91] Operating Income - Operating income for the three months ended June 28, 2024, was a loss of $11 million, a decrease of 132.4$34 million for the same period in 2023[91] - Operating income for the six months ended June 28, 2024, was $23 million, down 51.1$47 million for the same period in 2023[91] Assets and Liabilities - Total current assets as of June 28, 2024, were $2,520 million, an increase from$2,464 million as of December 29, 2023[101] - Total assets as of June 28, 2024, amounted to $9,516 million, up from$9,222 million as of December 29, 2023[101] - Total current liabilities as of June 28, 2024, increased to $2,531 million from$1,983 million as of December 29, 2023[101] Net Income - Net income attributable to Leidos common stockholders for the six months ended June 28, 2024, was $89 million[102] Future Outlook - The company has a backlog of contracts that is expected to contribute to future revenue growth, although specific figures were not disclosed[90] - The company continues to evaluate market opportunities for expansion and new product development, focusing on efficiencies and program wins[90]