DefenseScoop: Navy deploys unmanned surface vessel with carrier strike group

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

SAIC has hired Ken Crews, Northrop Grumman's chief financial officer until January, as its next CFO, the company said Tuesday, Oct. 13.^{1, 3} He joins on Friday, Oct. 30, as CFO-elect and takes the title on Monday, Dec. 7.^1–2 In connection with his hiring, Prabu Natarajan, SAIC's CFO since January 2021, becomes the permanent head of the Civilian Business Group, which he has led on an interim basis for several months.^{1–2, 5}

Kenneth CrewsCFO effective Dec. 7, 2026planned

he starts work Oct. 30, 2026 and serves as CFO-elect until then

Prabu NatarajanExecutive Vice President, Civilian Business Groupplanned

ceases to be CFO on Dec. 7, 2026

Enterprise Operationsoversight of Project ORBITplanned

Natarajan will continue his role

Crews most recently was Northrop Grumman's corporate VP and CFO

Natarajan continues as CFO during the transition

Source: SAIC Form 8-K and release, Oct. 13, 2026; Northrop Grumman Form 8-K, Nov. 6, 2025

Sources

• www.sec.gov ↗
• www.sec.gov ↗
• www.sec.gov ↗

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Crews arrives during a portfolio and strategy review that CEO Jim Reagan said in August includes M&A.⁹ At Northrop, he oversaw finance functions ranging from treasury and contracts and pricing to M&A and investor relations. Before becoming CFO there in October 2024, he was CFO for sectors including Space Systems and Mission Systems.¹ Reagan, a former Leidos CFO, became interim CEO in October 2025 and took the job permanently in February.⁶

Natarajan keeps a hand in the cost work. He remains executive vice president of enterprise operations and keeps oversight of Project ORBIT, which SAIC expects to yield about $150 million in annual run-rate savings by the end of a three-year implementation.^{2, 9}

SAIC consolidated its business groups into three as fiscal 2027 began, each led by an executive vice president reporting to the CEO.⁷ The Civilian group's previous head, Srinivas Attili, stepped down in May in connection with what SAIC called an internal reorganization.⁴ Since then, the Civilian group has won a five-year recompete valued at about $740 million including options, to operate and maintain Customs and Border Protection systems for the Department of Homeland Security.⁸