SAIC hires Northrop's former CFO, moving its own CFO to run its civilian business

Sierra Nevada Corporation (SNC) has left the Navy’s Undergraduate Jet Training System (UJTS) competition to replace the T-45 Goshawk, Breaking Defense reported Nov. 3. SNC told the outlet it could not responsibly bid under the current contract structure.¹

SNC could not responsibly bid the UJTS [Undergraduate Jet Training System] program under the current contract structure

Textron Aviation Defense, the only known major competitor to SNC, confirmed to Breaking Defense that the firm submitted its offering of the M-346N to the Navy.

Stavatti Aerospace said on Oct. 30 it submitted a bid on UJTS

Reported by Breaking Defense

Sources

• breakingdefense.com ↗

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Breaking Defense says SNC’s exit leaves the Navy with “one true competitor”: Textron Aviation Defense, which confirmed to the outlet that it submitted the M-346N. The outlet also reported that Stavatti Aerospace said on Oct. 30 that it submitted a bid.¹

SNC said it remains committed to naval jet training and would be ready to re-engage if the approach is revisited. Breaking Defense’s account does not identify the contract terms SNC objected to.¹

The competitive field had already narrowed: Lockheed Martin announced in April it would not submit the TF-50N with Korea Aerospace Industries, and Boeing announced its departure in June. In September, Breaking Defense reported that Northrop Grumman was dropping off SNC’s bid, which centered on a clean-sheet design called the Freedom.¹

The Navy kept its Oct. 30 proposal deadline, extended from June 30, the program office told the outlet. It now estimates an award between July and the end of September 2027, later than the June 2027 target in its September request for proposals. The service originally planned a March 2027 selection.¹

Leidos' acquisition of ENTRUST Solutions supplied $142 million of revenue in the fiscal third quarter, which ended Oct. 2, 2026. Total revenue rose 4% to $4.63 billion.¹

$142 millionQuarterly revenue from the ENTRUST Solutions acquisition, included in total revenue

$4.63 billionTotal quarterly revenue, up 4%

0.6%Organic revenue growth

Leidos' organic revenue measure excludes acquisitions within the last 12 months and divestitures within the current and year-ago periods.

Source: Leidos third-quarter 2026 results release, SEC Exhibit 99.1. As of November 3, 2026.

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Organic revenue grew 0.6%. Leidos' organic measure excludes revenue from acquisitions within the last 12 months and divestitures within the current and year-ago periods.¹

Homeland, which includes Entrust Solutions, grew revenue 32%, or 14.8% organically. Leidos attributed growth to demand for air traffic management and electric power distribution engineering solutions, alongside the acquisition.¹

Also announced

On Oct. 5, 2026, Leidos closed a transaction contributing its Security Enterprise Solutions and Industrial Automation businesses to a newly formed joint venture with Altaris. Leidos lowered fiscal 2026 revenue guidance to $18.00 billion–$18.20 billion. Its prior revenue guidance for that fiscal year was $18.20 billion–$18.40 billion.¹

The revised guidance adjusts for the joint venture and reflects year-to-date performance and the current outlook; the guidance section does not quantify the venture's share of the revenue reduction. The company raised fiscal 2026 non-GAAP diluted earnings per share guidance to $12.50–$12.70. It also raised operating cash flow guidance for that fiscal year to approximately $1.90 billion.¹