Leidos Holdings, Inc. (NYSE:LDOS) Q1 2024 Earnings Conference Call April 30, 2024 8:00 AM ET
Company Participants
Stuart Davis - Investor Relations
Tom Bell - Chief Executive Officer
Chris Cage - Chief Financial Officer
Conference Call Participants
Bert Subin - Stifel
Jasper Bibb - Truist Securities
Sheila Kahyaoglu - Jefferies
Rocco Barbero - JPMorgan
Matthew Akers - Wells Fargo Securities
Noah Poponak - Goldman Sachs
Cai von Rumohr - TD Cowen
Robert Spingarn - Melius Research
Jason Gursky - Citi
Operator
Greetings and welcome to Leidos First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. Please note this conference is being recorded.
At this time, I'll turn the conference over to Stuart Davis from Investor Relations. Stuart, you may begin.
Stuart Davis
Thank you, operator, and good morning, everyone. I'd like to welcome you to our First Quarter Fiscal Year 2024 Earnings Conference Call. Joining me today are Tom Bell, our CEO; and Chris Cage, our Chief Financial Officer.
Today's call is being webcast on the Investor Relations portion of our website, where you'll also find the earnings release and supplemental financial presentation slides that we'll use during today's call.
Turning to Slide 2 of the presentation, today's discussion contains forward-looking statements based on the environment as we currently see it and as such includes risks and uncertainties. Please refer to our press release for more information on the specific risk factors that could cause actual results to differ materially.
Finally, as shown on Slide 3, during the call, we'll discuss GAAP and non-GAAP financial measures. A reconciliation between the two is included in today's press release and presentation slides.
With that, I'll turn the call over to Tom Bell, who will begin on Slide 4.
Tom Bell
Thank you, Stuart, and good morning, everyone. It's very good to be with you again today, and I'm thrilled to report a very robust start for Leidos in 2024, a substantial raise to our full year guidance and some additional details around the purposeful steps we're taking to position Leidos for an awesome future.
The Leidos team got out of the starting blocks impressively this year, addressing our customers' most vexing challenges with passion and pace and as a result, delivering an excellent quarter of top and bottom line results. First quarter revenue grew 7.5% year-over-year, all organically. First quarter adjusted EBITDA margin was 12.3%, a record for Leidos. And year-over-year non-GAAP EPS grew 56%.