Leonardo DRS Inc

DRS

Equity

ISIN US52661A1088 / Valor 110329459

NASDAQ (2024-11-22)

USD 36.25+1.54%

Leonardo DRS Inc
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About company

Leonardo DRS Inc is a company that focuses on providing naval and maritime systems, ground combat mission command and network computing, global satellite communications and network infrastructure, avionics systems, and intelligence and security solutions. In addition, the company offers power systems and electro-optical/infrared systems for various commercial customers. Leonardo DRS Inc serves military, government, and commercial markets with a diverse range of systems, products, and technologies.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Leonardo DRS Inc. reported a significant revenue increase for the second quarter of 2024, reaching $753 million. This marks a 20% growth compared to the same period in the previous year, driven by strong performance in advanced infrared sensing, electric power and propulsion, and tactical radar programs.

Net Earnings

For the second quarter of 2024, Leonardo DRS Inc. achieved net earnings of $38 million, reflecting a 9% increase year-over-year. This growth in net earnings was attributed to robust operational performance, which offset higher tax rates and expenses.

Adjusted EBITDA

Leonardo DRS Inc. reported an adjusted EBITDA of $82 million for the second quarter of 2024, representing a 32% increase from the previous year. The adjusted EBITDA margin also expanded by 100 basis points to 10.9%, driven by higher volume and improved program execution.

Bookings and Backlog

During the second quarter of 2024, Leonardo DRS Inc. secured $941 million in new funded awards, resulting in a book-to-bill ratio of 1.2x. The company's backlog reached a record $7.9 billion, an 82% increase year-over-year, indicating strong future revenue potential.

2024 Guidance

Leonardo DRS Inc. has updated its 2024 guidance, now expecting revenue between $3,075 million and $3,175 million. The company also raised its adjusted EBITDA guidance to a range of $375 million to $395 million, reflecting confidence in continued strong performance and growth.

Summarized from source with an LLMView Source

Key figures

96.6%1Y

%3Y

%5Y

Performance

36.0%1Y

35.6%3Y

35.6%5Y

Volatility