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.
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Leonardo DRS, Inc. (Nasdaq: DRS) has announced a conference call to discuss its fourth quarter 2023 and full year 2023 results. The call is scheduled for February 27, 2024, at 10:00 a.m. (ET). The company will release its quarterly earnings press release before the call. The live audio broadcast and supplemental information will be available on the company’s investor relations website. Participants can register online to attend the conference call or webcast, with a replay available on the website for 90 days after the call.
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Leonardo DRS, Inc. (NASDAQ: DRS) has launched the Stretto family of high-precision lasers, covering the ultraviolet, visible, and near-infrared spectrum. The technology is designed for quantum information science, offering reliability, adaptability, and resistance to temperature and pressure fluctuations. The product is aimed at quantum sensors, clocks, and computing systems, positioning DRS for success in leading the future of sensing.
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Leonardo DRS, Inc. (NASDAQ: DRS) has been awarded contracts valued at over $3 billion to provide integrated electric propulsion system products for the U.S. Navy’s Columbia-class submarines. This contract solidifies DRS’s position through shipset 12 for the Columbia-class program. The company was chosen by General Dynamics Electric Boat and the U.S. Navy to design and manufacture key components of the primary propulsion system of the next-generation ballistic missile submarine fleet. The Columbia-class submarines are designed to replace the fleet of Ohio-class submarines and will be the largest ever built by the United States. Leonardo DRS is a leading provider of next-generation electrical power conversion and propulsion technology for the U.S. Navy.
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Leonardo DRS, Inc. (NASDAQ: DRS) successfully completes sea trials for the Ulsan-Class Future Frigate experimental Batch-3 (FFX-III) for the Republic of Korea Navy. The hybrid electric drive propulsion system features advanced permanent magnet propulsion motors, supporting the ship’s anti-submarine warfare (ASW) mission with less noise generation and superior fuel economy. The sea trial showcased exceptional performance, economy, safety features, and the ability to meet and exceed all performance requirements. The ROK Navy plans to begin deployment of the ship immediately.
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Leonardo DRS Inc. (NASDAQ: DRS) announced the pricing of an upsized public secondary offering of 18,000,000 shares of its common stock at an offering price of $17.75 per share by Leonardo US Holding, LLC. The offering is expected to close on November 21, 2023, subject to customary closing conditions. Upon completion of the offering, Leonardo S.p.A. will beneficially own approximately 73.3% of the outstanding common stock of DRS. The shares of common stock in the offering are being offered pursuant to an automatically effective shelf registration statement on Form S-3 filed with the SEC on November 15, 2023.
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Leonardo DRS Inc. (NASDAQ: DRS) has announced a public secondary offering of 16,500,000 shares of its common stock by Leonardo US Holding, LLC, a subsidiary of Leonardo S.p.A. The underwriters have a 30-day option to purchase up to an additional 2,475,000 shares. After the offering, Leonardo S.p.A. is expected to own approximately 73.9% of DRS's outstanding common stock. DRS is not offering any shares and will not receive any proceeds from the sale. Morgan Stanley, BofA Securities, and J.P. Morgan are acting as joint book-running managers for the offering.
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Leonardo DRS, Inc. has received an order for the continued production of its next-generation thermal weapon sights for the U.S. Army. The production order is worth over $134 million and was made under the Family of Weapon Sights – Individual (FWS-I) IDIQ contract. The FWS-I is a stand-alone, clip-on weapon sight that connects wirelessly to helmet-mounted vision systems, providing soldiers with rapid target acquisition capabilities day or night and in smoke or fog.
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Leonardo DRS, a leading defense technology provider, reported strong financial results for Q3 2023. Revenues increased by 11% to $703 million, while net earnings decreased by 83% to $47 million. Adjusted EBITDA rose by 41% to $82 million, and diluted EPS dropped by 87% to $0.18. The company also announced a $3 billion contract for the electric power and propulsion system on seven Columbia Class submarines. The 2023 guidance was updated to narrow the revenue and adjusted EBITDA ranges and raise the adjusted diluted EPS range.
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1.9%
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Leonardo DRS has been awarded a contract by the U.S. Army to produce a prototype of the next-generation Joint Effects Targeting System II (JETS II) multi-sensor targeting technology for Forward Observers. The 30-month performance prototype contract aims to improve precision accuracy and reduce weight, leading to higher target success rates and greater protection for warfighters on the ground.
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Leonardo DRS successfully demonstrates On Board Vehicle Power technology for vehicle-based electrical power.
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5.63%
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Leonardo DRS, Inc.
Nasdaq:DRS
DRS Rankings
DRS Stock Data
6.37B
72.84M
72.25%
28.13%
0.95%
Small Arms Ammunition Manufacturing
Manufacturing
United States of America
ARLINGTON
About DRS
leonardo drs is a prime contractor, leading technology innovator and supplier of integrated products, services and support to military forces, intelligence agencies and defense contractors worldwide. the company specializes in naval and maritime systems, ground combat mission command and network computing, global satellite communications and network infrastructure, avionics systems, and intelligence and security solutions. additionally, the company builds power systems and electro-optical/infrared systems for a wide range of commercial customers. headquartered in arlington, virginia, leonardo drs is a wholly owned subsidiary of leonardo s.p.a., which employs more than 47,000 people worldwide. see the full range of capabilities at www.leonardodrs.com and on twitter @drstechnologies.