Business
Leonardo DRS Announces Financial Results for Second Quarter 2024
Revenue: $753 million, up 20% year-over-year Net Earnings: $38 million, up 9% year-over-year Adjusted EBITDA: $82 million, up 32% year-over-year Diluted EPS:
About this update from Leonardo Drs, Inc.
[{"type":"text","content":"\n\nRevenue: $753 million, up 20% year-over-year\n\n\n\nNet Earnings: $38 million, up 9% year-over-year\n\n\n\nAdjusted EBITDA: $82 million, up 32% year-over-year\n\n\n\nDiluted EPS: $0.14, up 8% year-over-year\n\n\n\nAdjusted Diluted EPS: $0.18, up 20% year-over-year\n\n\n\nBookings: $941 million (book-to-bill ratio of 1.2x)\n\n\n\nBacklog: $7.9 billion, up 82% year-over-year\n\n\n\nIncreases 2024 guidance across metrics\n\n\n\n ARLINGTON, Va.--(BUSINESS WIRE)--\nLeonardo DRS, Inc. (Nasdaq: DRS), a leading provider of advanced defense technologies, today reported financial results for the second quarter 2024, which ended June 30, 2024.\n\n\nCEO Commentary\n\n\n“Our strong second quarter 2024 results reflect the solid momentum evident across the business. Healthy customer demand continues to propel our bookings and backlog growth. This demand along with an improving supply chain is unlocking revenue growth above our expectations. Overall, I am pleased with our year-to-date performance, however, we are maintaining a clear focus on execution to deliver on our commitments to customers and shareholders,” said Bill Lynn, Chairman and CEO of Leonardo DRS.\n\n\n\n\n\n\n\n\n\n\n \n\n\n\nSummary Financial Results\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n(In millions, except per share amounts)\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nSix Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n\n\nRevenues\n\n\n\n\n\n\n$\n\n\n\n\n\n\n753\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n628\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n20\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,441\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,197\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n20\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Earnings\n\n\n\n\n\n\n$\n\n\n\n\n\n\n38\n\...