Core Insights - Leidos reported $4.25 billion in revenue for Q2 2025, a year-over-year increase of 2.9%, with an EPS of $3.21 compared to $2.63 a year ago, resulting in a surprise of +0.52% over the Zacks Consensus Estimate [1] - The EPS surprise was +22.05% compared to the consensus estimate of $2.63 [1] Revenue Breakdown - Health & Civil revenues were $1.27 billion, slightly below the average estimate of $1.28 billion, reflecting a year-over-year change of +0.7% [4] - National Security and Digital revenues reached $1.87 billion, exceeding the average estimate of $1.86 billion, with a year-over-year increase of +3.3% [4] - Commercial & International revenues were $566 million, below the average estimate of $584.26 million, showing a year-over-year change of +0.9% [4] - Defense Systems revenues amounted to $543 million, surpassing the average estimate of $514.06 million, with a year-over-year increase of +9.7% [4] Operating Income Analysis - Defense Systems operating income was $41 million, exceeding the average estimate of $33.31 million [4] - Non-GAAP operating income for Defense Systems was $53 million, compared to the average estimate of $45.61 million [4] - National Security & Digital operating income was $188 million, closely matching the average estimate of $188.13 million [4] - Non-GAAP operating income for Health & Civil was $317 million, significantly above the average estimate of $270.25 million [4] - Non-GAAP operating income for National Security and Digital was $195 million, exceeding the average estimate of $185.47 million [4] - Non-GAAP operating income for Commercial & International was $48 million, slightly above the average estimate of $47.82 million [4] - Health & Civil operating income was $311 million, above the average estimate of $289.99 million [4] - Commercial & International operating income was $40 million, exceeding the average estimate of $34.83 million [4] Stock Performance - Leidos shares have returned -2.1% over the past month, while the Zacks S&P 500 composite has changed by +1% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential outperformance in the near term [3]