Leidos CEO: Most recent quarter was 'the most challenging quarter I have seen in my career'

Leidos today said sales in its defense solutions business grew 13% during the most recent quarter to hit nearly $1.8 billion.

The contractor attributed the gain to $206 million in sales related to acquiring Dynetics as well as program wins.

The defense business recorded quarterly profit of $119 million, up 5% from the prior year.

However, Leidos' health business reported that quarterly sales fell 20%, and, in a call with analysts today, Roger Krone, Leidos' chief executive, called the quarter "the most challenging quarter I have seen in my career."

Leidos said COVID-19 hurt company sales by about $132 million during the quarter.

Krone said the company now expects more of the recovery "to push into 2021 as the pace of re-openings began both later and slower . . . than previously estimated."