Every 10-Q that Leonardo DRS, Inc. (DRS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DRS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DRS filings page.
Leonardo DRS, Inc. reported strong results for the quarter ended June 30, 2026. Revenue grew to $913 million from $829 million and net earnings rose to $86 million from $54 million, lifting diluted EPS to $0.32 from $0.20 as gross margin expanded to 26.0%.
Growth was driven by both Advanced Sensing and Computing and Integrated Mission Systems, supported by favorable program mix, better execution and net positive estimate-at-completion adjustments. Backlog increased to $8,787 million with Q2 bookings of $1,085 million, indicating continued demand, particularly in electric power and propulsion and force protection programs.
Cash from operations improved but remained an outflow of $31 million for the first half, as working capital absorbed cash. The company repaid its $191 million term loan, ending the period with $149 million of total debt, $270 million of cash and an undrawn $500 million revolving credit facility. It also announced a $450 million agreement to acquire Raft LLC, to be funded with cash and revolver borrowings.
Leonardo DRS, Inc. reported solid growth for the quarter ended March 31, 2026. Revenue rose to $846 million from $799 million, driven by demand in advanced sensing, tactical radars, and naval power programs.
Net earnings increased to $62 million from $50 million, with both basic and diluted EPS at $0.23 versus $0.19 a year earlier. Gross margin improved to 25.1% from 22.7%, and operating earnings grew to $77 million from $59 million, reflecting favorable program mix and execution.
Cash from operations was a use of $66 million, better than the $138 million use in the prior-year quarter, mainly due to lower working capital outflows. The company ended the quarter with $328 million in cash and cut total debt to $151 million from $347 million, including full repayment of a $191 million term loan. Backlog was stable at $8.382 billion, though quarterly bookings declined to $885 million from $991 million.
Leonardo DRS, Inc. filed an Amendment No. 1 to its quarterly report for the period ended September 30, 2025 to add information that was inadvertently omitted about an executive stock trading plan. The amendment updates the section on securities trading plans to disclose that Executive Vice President Operations Sally A. Wallace adopted a Rule 10b5-1 trading arrangement on August 6, 2025 covering up to 38,987 shares of common stock, with a scheduled expiration date of October 30, 2026. As of October 28, 2025, the company had 266,026,725 shares of common stock outstanding. The company states that no financial statements or other disclosures from the original quarterly report are being changed by this amendment.
Leonardo DRS (DRS) reported strong Q3 2025 results. Revenue reached $960 million, up 18% year over year, with diluted EPS of $0.26 and net earnings of $72 million. Operating earnings were $93 million as gross margin improved to 23.1% from 22.0%.
Year to date, revenue was $2.588 billion (up 15%) and diluted EPS was $0.65. Backlog totaled $8.909 billion as of September 30, 2025, and Q3 bookings were $1.307 billion. Segment revenue was $580 million for Advanced Sensing & Computing and $383 million for Integrated Mission Systems.
Cash and equivalents were $309 million, with total debt of $350 million and no borrowings on the $275 million revolver. Net cash used in operating activities was $59 million for the first nine months. The company repurchased $24 million of stock under a $75 million program and paid $0.27 per share in dividends year to date; a $0.09 per share dividend was declared for payment on December 2, 2025. Subsequent to quarter end, John Baylouny was appointed President & CEO effective January 1, 2026; Frances F. Townsend will become Board Chair the same day.