Leidos' Defense Business Is About to Boom
Leidos' (NYSE: LDOS) business is booming -- and it's about to boom even bigger.
Since its absorption of Lockheed Martin's IT division in 2016, revenue at the publicly traded IT powerhouse has more than doubled, from $5.1 billion in the year of the merger to $10.8 billion recorded over the last 12 months. Most of this growth, however, has not been in the business of defense contracting (Leidos' historical forte), where revenues are up 58% over the last four years. Rather, it's been in what were historically the company's smaller businesses of civil IT contracting (up 189% from 2016) and health IT (up 225%, all according to data from S&P Global Market Intelligence).
That's about to change, and in a big way.
Source Fool.com
