Leonardo Drs, Inc. ( (DRS) ) has realeased its Q3 earnings. Here is a breakdown of the information Leonardo Drs, Inc. presented to its investors.
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Leonardo DRS, Inc., headquartered in Arlington, VA, is a prominent provider of advanced defense technologies, specializing in innovative solutions for national security customers and allies globally. The company is known for its expertise in advanced sensing, network computing, force protection, and electric power and propulsion systems.
In the third quarter of 2024, Leonardo DRS reported strong financial performance, with revenue reaching $812 million, a 16% increase from the previous year. The company also announced significant growth in net earnings and adjusted EBITDA, reflecting its successful execution and customer commitment.
Key financial highlights include a 21% increase in net earnings to $57 million and a 22% rise in adjusted EBITDA to $100 million, demonstrating robust operational performance. The company’s bookings totaled $1.1 billion, with a backlog of $8.3 billion, indicating continued strong demand for its technologies.
Looking ahead, Leonardo DRS raised its 2024 guidance across all metrics and initiated a preliminary framework for 2025, projecting revenue growth of 5% to 8%. This optimistic outlook underscores the company’s confidence in its strategic direction and market positioning.
