Leonardo DRS, Inc. Stock Price, News & Analysis

Leonardo DRS, Inc. (NASDAQ:DRS) announced the launch of its Multiband Uncooled SmallSat Imaging Radiometer (MUSIR) technology, designed to measure Earth's surface temperature from space. This technology allows for advanced thermal infrared measurements and faster revisit times through satellite constellations. Collaborating with NASA, the company achieved design-to-launch readiness in just 16 months. MUSIR utilizes an uncooled focal plane array, eliminating the need for cryogenic coolers, which results in a lighter and more efficient instrument suitable for small satellites. This initiative positions DRS as a key player in the growing space technology market, emphasizing its commitment to providing innovative and cost-effective solutions for Earth observation.

Leonardo DRS, Inc. (Nasdaq: DRS) will hold a conference call on May 3, 2023, at 5:00 p.m. ET to discuss its first-quarter 2023 results. A press release detailing quarterly earnings will be issued before the call. Investors can access the audio broadcast and supporting documents on the company's investor relations website. A replay of the call will be available two hours after its conclusion and will remain accessible for 90 days.

Based in Arlington, VA, Leonardo DRS provides advanced defense technology to U.S. national security clients and global allies, specializing in various high-tech solutions for military applications. The company emphasizes its commitment to developing innovative technologies aimed at tackling emerging defense challenges.

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.