Leonardo DRS, Inc. Stock Price, News & Analysis

Leonardo DRS, Inc. (NASDAQ: DRS) announced contracts exceeding $1 billion to supply integrated electric propulsion components for the U.S. Navy’s Columbia-class submarine. This program is crucial as it will replace the aging Ohio-class submarines. CEO Bill Lynn emphasized the commitment to national security through innovative systems. Manufacturing will occur at facilities in Massachusetts, Wisconsin, Connecticut, and Missouri. DRS is recognized for its advanced electrical power technology, supporting modern naval platforms. The Columbia-class program is a top priority for the Navy.

Leonardo DRS, Inc. (NASDAQ: DRS) has unveiled its new 6KVA Uninterruptible Power Supply (UPS), part of its Pivotal Power Solutions line. This advanced power conversion technology is tailored for mission-critical systems on U.S. Navy ships, providing reliable and conditioned backup power. The UPS is lighter, meets MIL-DTL-24765 standards, and supports longer battery life with reduced maintenance costs. Compatible with existing systems, it enhances equipment density while ensuring robust electrical performance.

Leonardo DRS emphasizes its commitment to support naval forces in the U.S., Canada, and allied nations through innovative power solutions.

Leonardo DRS reported financial results for Q4 and full year 2022, with revenues of $820 million for Q4 and $2.7 billion for the year. Net earnings increased by 12% to $65 million in Q4 and surged 163% to $405 million annually. Adjusted EBITDA was $120 million in Q4 and $318 million for the year. Bookings reached $852 million in Q4 and $3.2 billion for the year, driving backlog to a record $4.3 billion—up 49%. The company also initiated solid guidance for 2023, projecting revenue between $2.7 billion and $2.8 billion, and adjusted diluted EPS in the range of $0.64 to $0.69.

Leonardo DRS, Inc. has scheduled a conference call for March 28, 2023, at 10:30 a.m. (ET) to discuss its Q4 and full year 2022 results. An earnings press release will precede the call. On March 9, 2023, majority shareholder Leonardo S.p.A will announce its consolidated full-year financial results, including data relevant to DRS. The company will subsequently file an 8-K summarizing the disclosures. A live audio broadcast will be available on the investor relations website, with a replay accessible after the event for 90 days.

Leonardo DRS is a provider of defense technology, specializing in advanced sensing, network computing, and other mission-critical technologies.

Leonardo DRS, Inc. (Nasdaq: DRS) has been awarded a significant contract to supply additional counter unmanned aircraft system (C-UAS) platforms to support the U.S. Army’s Mobile-Low, Slow, Small Unmanned Aircraft System Integrated Defeat System (M-LIDS) program. This new task order is part of an indefinite delivery/indefinite quantity contract, enhancing the company's role in providing advanced defense technologies. Previous contracts amounting to $60 million were received in late 2022, underlining the ongoing commitment to deliver M-LIDS vehicles that protect U.S. and allied forces.

Leonardo DRS, Inc. (Nasdaq: DRS) has appointed Dr. Louis Reginald 'Reggie' Brothers to its Board of Directors, effective January 1, 2023. Dr. Brothers, an expert in advanced technologies, will also serve on the Audit Committee. His extensive background includes over 25 years in the defense and technology sectors, and he previously held leadership roles at BigBear.ai and the U.S. Department of Homeland Security. The company aims to leverage Dr. Brothers' experience to enhance its strategic growth and innovation efforts for U.S. and allied defense capabilities.

Leonardo DRS, Inc. has appointed Eric C. Salzman to its Board of Directors, effective November 28, 2022. Salzman, who brings significant experience in financial matters and corporate governance, will serve on the Audit Committee and the Nominating and Corporate Governance Committees. His background includes a role as CEO of Safeguard Scientifics and a history of leadership in various high-tech and manufacturing companies. The company anticipates that Salzman's expertise will contribute to their growth strategies as they transition into a public entity.

Leonardo DRS (DRS) has secured a contract worth $39.5 million from the U.S. Army to develop advanced infrared sensors for next-generation sighting systems. This contract, awarded on August 23, 2022, includes the production of Low-Rate Initial Production of the 3GEN Forward Looking Infrared (FLIR) Dewar Cooler Bench (DCB) sensor, enhancing situational awareness and operational effectiveness. DRS is the sole provider for this technology, positioning the company for long-term production opportunities within the U.S. Army's advanced sensor capabilities.

At Milipol Paris 2021, Leonardo introduced the ELSAG Street Sentry, an economical autonomous license plate recognition system designed for law enforcement. This solar-powered solution enhances public safety by identifying suspect vehicles 24/7, allowing agencies to easily deploy ALPR technology tailored to their needs. Jason Laquatra, general manager of Leonardo’s U.S. subsidiary, stated that this innovation is particularly beneficial for smaller agencies, promoting accessibility and affordability in crime prevention. Leonardo aims to strengthen law enforcement capabilities through advanced technology.