Leidos Holdings, Inc. (NYSE:LDOS) Q2 2024 Earnings Conference Call July 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
Mariana Perez Mora - Bank of America
Matt Akers - Wells Fargo
David Strauss - Barclays
Cai von Rumohr - TD Cowen
Peter Arment - Baird
Jeremy Jason - Citi
Ken Herbert - RBC
Noah Poponak - Goldman Sachs
Operator
Greetings. Welcome to Leidos' Second 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 second 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 great to be with you all again today to report a record quarter for Leidos.
In this quarter, organic growth remained strong, achieving a record adjusted EBITDA margin of 13.5%. Year-to-date, we've delivered industry-leading profitable growth, with adjusted diluted EPS 50% higher than last year. The team is doing an excellent job converting our earnings into cash. In turn, this has allowed us to continue to deploy capital to grow shareholder value per our plan. We're now halfway through our commitment to repurchase $500 million worth of shares this year. I'm also proud of the fact that this robust first half of 2024 allows us to once again raise guidance for the full year. Chris will give you a complete update on our financials and our guidance later in the call.