Leidos Secures $456M Defense Dept. Contract for Military Wellbeing Services
Summary
Leidos has secured a significant $456 million contract from the General Services Administration to manage well-being services for the Defense Department's Military OneSource program over four years. This new award strengthens Leidos's position as a key government contractor and adds a material amount to its backlog, providing revenue visibility. The contract, which involves providing confidential counseling, tax services, and spouse employment support to 4.7 million service members and their families, aligns with Leidos's long-standing support for military personnel. This win is a positive development for the company, demonstrating continued success in securing large government contracts.
At the time of this announcement, LDOS was trading at $146.29 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $18.4B. The 52-week trading range was $139.69 to $205.77. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.