Business
Leonardo DRS Announces Financial Results for Second Quarter 2023
Revenue: $628 million Net Earnings: $35 million Adjusted EBITDA: $62 million Diluted EPS: $0.13 Adjusted Diluted EPS: $0.15 Bookings: $698 million
About this update from Leonardo Drs, Inc.
[{"type":"text","content":"\n\nRevenue: $628 million\n\n\n\nNet Earnings: $35 million\n\n\n\nAdjusted EBITDA: $62 million\n\n\n\nDiluted EPS: $0.13\n\n\n\nAdjusted Diluted EPS: $0.15\n\n\n\nBookings: $698 million (book-to-bill ratio of 1.1x)\n\n\n\nBacklog: $4.4 billion\n\n\n\nNarrows 2023 guidance ranges across all metrics\n\n\n\n ARLINGTON, Va.--(BUSINESS WIRE)--\nLeonardo DRS, Inc. (Nasdaq and TASE: DRS), a leading provider of advanced defense technologies, today reported financial results for the second quarter 2023, which ended June 30, 2023.\n\n\nCEO Commentary\n\n\n“Leonardo DRS delivered strong second quarter results consistent with our expectations. Organic revenue growth continued to accelerate and resilient customer demand bolstered our bookings in the quarter. While the operating environment remains complex, our year to date performance gives us confidence in achieving our full year outlook. We remain focused on execution excellence to meet commitments to our customers and shareholders,” said Bill Lynn, Chairman and CEO of Leonardo DRS.\n\n\nSummary Financial Results\n\n\n\n\n(In millions, except per share amounts)\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nSix Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n\n\nRevenues\n\n\n\n\n\n\n$628\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$627\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n—\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n$1,197\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$1,239\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(3\n\n\n\n\n\n\n%)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Earnings\n\n\n\n\n\n\n$35\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$25\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n40\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n$47\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$61\n\n\n\n\n...