Leonardo DRS Q3 2023 Earnings Report
Key Takeaways
Leonardo DRS announced strong Q3 2023 results, with revenue reaching $703 million and net earnings of $47 million. The company saw an 11% increase in revenue compared to the previous year, driven by strong performance in naval power and computing programs. Bookings were robust at $1.1 billion, resulting in a book-to-bill ratio of 1.5x, and backlog reached a record $4.7 billion.
Revenue increased by 11% year-over-year, reaching $703 million.
Net earnings totaled $47 million, with diluted EPS at $0.18.
Adjusted EBITDA grew by 41% to $82 million, with an adjusted EBITDA margin of 11.7%.
Bookings were strong at $1.1 billion, resulting in a book-to-bill ratio of 1.5x, and backlog reached a record $4.7 billion.
Leonardo DRS
Leonardo DRS
Leonardo DRS Revenue by Segment
Forward Guidance
Leonardo DRS is updating its 2023 guidance to narrow the ranges for revenue and adjusted EBITDA and raise the range for adjusted diluted EPS.
Positive Outlook
- Revenue: $2,735 million - $2,785 million
- Adjusted EBITDA: $319 million - $325 million
- Tax Rate: 13%
- Diluted Shares Outstanding: 266 million
- Adjusted Diluted EPS: $0.70 - $0.72
Revenue & Expenses
Visualization of income flow from segment revenue to net income