Welcome to our dedicated page for Leonardo DRS news (Ticker: DRS), a resource for investors and traders seeking the latest updates and insights on Leonardo DRS stock.
Leonardo DRS develops and manufactures advanced defense technologies for U.S. national security customers and allied forces across land, air, sea, space and cyber domains. News from DRS commonly covers quarterly results, funded bookings, backlog, program execution and demand across tactical radars, infrared and RF sensing, network computing, force protection, and electric power and propulsion.
Company updates also include product and capability launches such as rugged shipboard power systems, maritime counter-UAS packages, and open-architecture embedded computing for tactical platforms, along with defense contract vehicles, research-and-development activity, board changes and other governance developments.
Leonardo DRS (Nasdaq: DRS) signed an agreement for a new 141,087-square-foot facility at 120 Park Ridge Road in Brookfield, Connecticut, to expand and consolidate its Naval Power Systems operations. The site will replace three existing locations in Danbury and Bethel, supporting higher throughput for critical U.S. Navy programs.
Initial occupancy is expected in early 2027, with potential limited occupancy in late 2026, subject to design and tenant improvements. The company says the unified facility is intended to enhance collaboration, efficiency, and long-term execution, and to position the business for growth in naval nuclear propulsion and the broader nuclear energy market.
Leonardo DRS (Nasdaq: DRS) reported second quarter 2026 revenue of $913 million, up 10% year-over-year, with net earnings of $86 million (+59%) and diluted EPS of $0.32 (+60%). Adjusted EBITDA rose 33% to $128 million, with a 14.0% margin, while adjusted diluted EPS increased 52% to $0.35.
Bookings were $1.1 billion (book-to-bill 1.2x), driving a record funded backlog of $5.1 billion, up 17% year-over-year. According to Leonardo DRS, free cash flow was $6 million and net cash from operating activities was $35 million in the quarter. The company ended the period with $270 million of cash and no borrowings under its credit facility.
Leonardo DRS raised 2026 guidance for adjusted EBITDA to $525–$540 million (from $515–$530 million) and adjusted diluted EPS to $1.34–$1.39 (from $1.26–$1.30), while revenue guidance remained at $3.9–$3.975 billion. Guidance excludes the pending $450 million acquisition of Raft. The company declared a $0.09 per share dividend payable August 27, 2026, and repurchased 261,526 shares for approximately $12 million in Q2.
Leonardo DRS (Nasdaq: DRS) entered a definitive agreement to acquire Raft, a McLean, Virginia-based provider of open-architecture mission software specializing in multi-domain data fusion and AI, in an all-cash transaction valued at $450 million, subject to customary post-closing adjustments.
According to Leonardo DRS, the deal aligns with its strategy to integrate advanced sensing, network computing and AI-enabled mission software for national security customers. The transaction is expected to be funded with cash on hand and borrowings under the company’s revolving credit facility and to provide a tax benefit with a present value of approximately $50 million over 15 years. Closing is subject to regulatory approvals and customary conditions and is expected in the fourth quarter of 2026. The acquisition is expected to be accretive to Adjusted Diluted EPS in the first full year of ownership.
Leonardo DRS (Nasdaq: DRS) announced a contract to supply more than 50,000 Tenum® Orbit™ thermal imaging cameras under a blanket purchase agreement, described as a major production milestone and evidence of growing demand for compact, high-performance thermal imaging across emerging mission applications.
The agreement positions Leonardo DRS to support high-volume customer needs in areas such as unmanned systems and drones. According to Leonardo DRS, prior investments in factory infrastructure and manufacturing capacity are designed to support annual production in the hundreds of thousands of units, with the Tenum® Orbit™ also engineered for exportability and compliance with international trade regulations.
Leonardo DRS (Nasdaq: DRS) will host a conference call on Thursday, July 30, 2026 at 10:00 a.m. ET to discuss its second quarter 2026 results.
The live webcast, related materials, and a 90-day replay will be available via the company’s investor relations website.
AeroVironment (NASDAQ: AVAV) appointed William J. Lynn III to its Board of Directors, effective June 24, 2026. Leadership highlights his government, national security and defense technology background as valuable as the company pursues growth in a changing global security environment.
Lynn previously served as Chairman and CEO of Leonardo DRS (NASDAQ: DRS) from 2012 to 2026 and as the 30th U.S. Deputy Secretary of Defense, where he led development of the Department of Defense’s first cyber strategy.
Leonardo DRS (Nasdaq: DRS) launched the Tenum® 640 Orbit™, an uncooled long-wave infrared thermal camera module optimized for high-volume OEM integration on unmanned air, ground, and maritime platforms.
The module features 640 x 512 resolution, 10 µm pixel pitch, <20 mK sensitivity, 60 fps, and MIPI CSI/CCS compatibility with optional USB connectivity, targeting Group 1-3 UAVs and other small unmanned systems.
Leonardo DRS (Nasdaq: DRS) reported Q1 2026 results: revenue $846M (+6% YoY), net earnings $62M (+24% YoY), adjusted EBITDA $105M (+28% YoY), and adjusted diluted EPS $0.26 (+30% YoY). Funded backlog reached $4.7B. Board declared a $0.09 per-share cash dividend payable June 2, 2026. The company raised 2026 guidance for revenue, adjusted EBITDA and adjusted diluted EPS ranges.
Leonardo DRS (Nasdaq: DRS) introduced a rugged 2 kVA AC uninterruptible power supply (UPS) built for shipboard and harsh maritime environments. The unit is IP54-hardened and described as military-qualified; qualification testing to applicable MIL-STD requirements (EMI, shock, vibration, salt fog, fungus) will complete this summer.
The UPS targets mission-critical loads outside controlled spaces and is positioned to support naval power-conversion needs for submarines and surface ships.
Leonardo DRS (Nasdaq: DRS) announced the Maritime Mission Equipment Package (M-MEP), an integrated maritime counter-UAS capability fielded on an autonomous unmanned surface vessel (AUSV).
The M-MEP combines maritime radar, EO-IR sensors, SAGEcore™ AI-enabled sensor fusion, networking, and a platform integration kit to detect, identify, track, and defeat aerial unmanned threats and speed fielding across ships and USVs.