Slide 1: Quarterly Earnings Presentation Q4 2024
Quarterly Earnings Presentation Q4 | 2024 February 20, 2025
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements In this presentation, when using the terms the “company,” “DRS,” “we,” “us” and “our,” unless otherwise indicated or the context otherwise requires, we are referring to Leonardo DRS, Inc. This presentation contains forward-looking statements and cautionary stat
Slide 3: Key Messages
Key Messages Remarkable performance demonstrated by fourth quarter and full year 2024 financial results • Full year 2024 organic revenue growth of 14% reflects the company’s differentiated market positioning 1 • Adjusted EBITDA growth of 23% and margin expansion of 90 bps in 2024 • Healthy free cash
Slide 4: Q4 2024 Leonardo DRS Results Summary
Q4 2024 Leonardo DRS Results Summary Revenue Adjusted EBITDA * Adjusted Net Earnings * (Dollars in millions) (Dollars in millions) (Dollars in millions) $981 $148 $101 $926 ▲ 6% $131 ▲ 13% $83 ▲ 22% Steady growth from tactical radar, naval network Adjusted EBITDA growth Strong operational computing,
Slide 5: Full Year 2024 Leonardo DRS Results Summary
Full Year 2024 Leonardo DRS Results Summary Revenue Adjusted EBITDA * Adjusted Net Earnings * (Dollars in millions) (Dollars in millions) (Dollars in millions) $3,234 $400 $249 $2,826 ▲ 14% $324 ▲ 23% $194 ▲ 28% Remarkable organic growth driven by advanced Adjusted EBITDA growth Strong operational i
Slide 6: Formalizing 2025 Guidance
Formalizing 2025 Guidance Driving Continued Healthy Organic Growth and Adjusted EBITDA Margin Expansion (In millions, except per share amounts) • High visibility and backlog coverage to begin 2025 • Execution variability subject to the pace of material receipts and Revenue progress of labor inputs a
Slide 7: Segment Results
Segment Results 7
Slide 8: Q4 2024 Segment Results Summary
Q4 2024 Segment Results Summary Revenue Adjusted EBITDA * Adjusted EBITDA Margin * (Dollars in millions) (Dollars in millions) Advanced Sensing and Computing (ASC) $660 $102 15.5% 15.5% $605 $94 ▲ 9% ▬ 0 bps ▲ 9% Tactical radar, naval network computing and advanced infrared sensing programs spurred
Slide 9: Full Year 2024 Segment Results Summary
Full Year 2024 Segment Results Summary Revenue Adjusted EBITDA * Adjusted EBITDA Margin * (Dollars in millions) (Dollars in millions) Advanced Sensing and Computing (ASC) $2,118 $262 12.4% $1,831 ▲ 16% 11.7% ▲ 70 bps $215 ▲ 22% Improved program Strong momentum in execution, favorable advanced infrar
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures Definitions and Reconciliations In addition to the results reported in accordance with U.S. GAAP included throughout this presentation, the company has provided information regarding “Adjusted EBITDA,” “Adjusted EBITDA Margin,” “Adjusted Net Earnings” and “Adjusted Dilute