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) is celebrating its sixth year of sponsoring the 'Stick It to Cancer' fundraiser at the United States Army (AUSA) expo in Washington, D.C. This initiative recognizes Breast Cancer Awareness Month and supports military members and their families affected by breast cancer. The company is partnering with The Henry M. Jackson Foundation (HJF) and will donate to support breast cancer research and the Look Good Feel Better program at Walter Reed National Military Medical Center.
On October 15th, Leonardo DRS's booth will 'Go Pink' to encourage participation. AUSA attendees can place breast cancer awareness stickers on the Wall of Heroes at the DRS exhibit, with the company donating $10 per sticker, up to $20,000. The Look Good Feel Better program teaches beauty techniques to people with breast cancer, helping them manage appearance-related side effects of treatment.
Leonardo DRS (NASDAQ: DRS) and BlueHalo have successfully demonstrated a new Counter Unmanned Aircraft System (C-UAS) Directed Energy (DE) Stryker. The prototype, designed to defeat Group 1-3 UAS, was showcased in a live-fire demonstration for U.S. Army officials in Socorro, N.M. The C-UAS DE Stryker successfully destroyed multiple drones using BlueHalo's 26kW LOCUST Laser Weapon System and demonstrated near-simultaneous engagements with a 30mm remote weapon station.
The Stryker integrates kinetic and non-kinetic effectors, including EOS Defense Systems' USA R400 30mm RWS, BAE Systems' 2.75" Advanced Precision Kill Weapon System, and BlueHalo's LOCUST LWS and Titan C-UAS™ technologies. The vehicle is fully integrated with the US Army's Forward Area Air Defense Command and Control network, ensuring interoperability with other Air Defense systems.
Leonardo DRS (NASDAQ: DRS) has opened a new facility at Aberdeen Proving Ground (APG) in Maryland to enhance collaboration on current and future programs. The facility includes an engineering lab, specialized vehicle integration bays, and equipped conference rooms to increase connectivity with Leonardo DRS program personnel and technologies.
APG hosts several commands overseeing the development, testing, and delivery of soldier capabilities. Leonardo DRS works with these commands on critical programs including networked C4ISR systems, electro-optical/infrared targeting sensors, electronic warfare capabilities, and vehicle-based force protection systems.
The company has a history of successful partnerships at APG, including the delivery of over 100,000 Mounted Family of Computer Systems, Active Protection System for Abrams tanks, and advanced electro-optical/infrared, electronic warfare, and radar programs.
Leonardo DRS (Nasdaq: DRS) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Wednesday, October 30, 2024, at 10:00 a.m. ET. The company plans to release its quarterly earnings press release before the call. Investors and interested parties can access the live audio broadcast and accompanying materials on the company's investor relations website.
To participate in the conference call or webcast, registration is required through the provided link. A replay of the call will be available on the company's website approximately two hours after its conclusion and will remain accessible for 90 days.
Leonardo DRS (NASDAQ: DRS) has delivered critical C5I capabilities for the Australian Army's Heavy Armoured Capability Systems ahead of schedule. The company is providing its next-generation ruggedized C5I Battle Management System (BMS) hardware for various combat vehicles, including M1A2Sepv3 Main Battle Tanks and M88A2 Recovery Vehicles. This technology enhances situational awareness and is designed to integrate with U.S. and coalition partners' networked communications.
Leonardo DRS has been supplying advanced systems to the Australian Army for over 20 years and has delivered more than 200,000 systems internationally. The company focuses on network computing and integration, developing combat-proven, ruggedized systems for multi-domain battlefield operations. Leonardo DRS is also investing in next-generation tactical computing systems and AI processing solutions to improve sensor fusion and situational awareness.
Leonardo DRS (NASDAQ: DRS) has received a $117 million production order for its next-generation thermal weapon sights under the Family of Weapon Sights – Individual (FWS-I) IDIQ contract for the U.S. Army. The FWS-I is a stand-alone, clip-on weapon sight that connects wirelessly to helmet-mounted vision systems, providing rapid target acquisition capabilities in various conditions. This technology offers strategic and tactical advantages on the battlefield.
Jerry Hathaway, senior vice president at DRS, emphasized the importance of providing advanced weapon sight systems to soldiers. Leonardo DRS has an extensive installed base of electro-optical and infrared technology across the U.S. military, focusing on advanced sensing capabilities for various applications supporting the armed forces.
Leonardo DRS (NASDAQ: DRS) has secured a $49 million contract to produce additional Joint Assault Bridge (JAB) systems for the U.S. Army and Romanian military. The JAB, built on a modified M1A1 Abrams tank chassis, is a next-generation armored engineer vehicle designed to provide assault-bridging capabilities for armored forces. Key features include:
- Advanced infrared vision technology
- Rapid assault launch and retrieve capability
- Superior mobility
Leonardo DRS has already delivered over 100 JAB systems, demonstrating its expertise in integration across various military domains. This contract reinforces the company's position as a leading supplier of advanced military engineering solutions.
Leonardo DRS (NASDAQ: DRS) has received a $52 million follow-on production order for its advanced Sniper Weapon Sights under the Family of Weapon Sights–Sniper (FWS-S) IDIQ contract for the U.S. Army. The FWS-S is a clip-on thermal weapon sight that works with existing daytime sniper optics, providing rapid target acquisition capabilities in various environmental conditions, including smoke and fog.
The system incorporates DRS's cooled infrared imaging technology, offering strategic and tactical advantages to snipers. This order reinforces Leonardo DRS's position as a trusted provider of advanced sensing capabilities to the U.S. military, aligning with the company's key strategic focus on electro-optical and infrared technologies.
Leonardo DRS (NASDAQ: DRS) has been awarded a $417 million contract by the U.S. Navy to provide critical electronic combat control and sonar systems equipment for submarines. The Technology Insertion Hardware TI-26 contract will cover design, procurement, production, testing, installation, and support of various systems including displays, workstations, processors, and network systems.
The contract, awarded by the Naval Undersea Warfare Center, Keyport, will support the Submarine Warfare Federated Tactical System for U.S. Navy submarines. It also includes purchases for the Foreign Military Sales program and the Royal Australian Navy. This latest generation contract highlights DRS's continued role as a trusted partner in submarine combat control and sonar system hardware programs.
Leonardo DRS (Nasdaq: DRS) reported strong Q2 2024 financial results, with revenue up 20% year-over-year to $753 million. Net earnings increased 9% to $38 million, while adjusted EBITDA grew 32% to $82 million. The company saw significant growth in bookings and backlog, with a book-to-bill ratio of 1.2x and backlog up 82% year-over-year to $7.9 billion.
Key drivers of growth included advanced infrared sensing, electric power and propulsion, and tactical radar programs. Both the Advanced Sensing and Computing (ASC) and Integrated Mission Systems (IMS) segments showed strong performance. Based on these results, Leonardo DRS has increased its 2024 guidance, projecting revenue between $3,075 million and $3,175 million, and adjusted diluted EPS of $0.82 to $0.88.