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, Inc. (DRS) is a prime contractor and a leading innovator in technology, dedicated to providing integrated products, services, and support to military forces, intelligence agencies, and defense contractors across the globe. Headquartered in Arlington, Virginia, Leonardo DRS is a wholly owned subsidiary of Leonardo S.p.A., which employs over 47,000 people worldwide.
The company specializes in various sectors including naval and maritime systems, ground combat mission command and network computing, global satellite communications and network infrastructure, avionics systems, and intelligence and security solutions. Leonardo DRS also constructs power systems and electro-optical/infrared systems for a wide array of commercial customers, showcasing its versatility.
In the field of defense, Leonardo DRS stands out as a provider of advanced technologies across land, air, sea, space, and cyber domains. Their core capabilities are divided into two main segments: Advanced Sensing and Computing and Integrated Mission Systems. The Advanced Sensing and Computing segment, which accounts for the majority of their revenue, focuses on designing, developing, and manufacturing sensing and network computing technology. This technology is crucial for enabling real-time situational awareness, which is essential for enhanced operational decision-making and execution by their customers.
Leonardo DRS has recently achieved significant milestones, including advancements in force protection and electric power and propulsion technologies. Their ongoing projects and partnerships further solidify their position as a key player in the defense industry.
To explore the full range of their capabilities, visit their official website at www.leonardodrs.com or follow them on Twitter at @drstechnologies.
Leonardo DRS (NASDAQ: DRS) has secured a contract from NAVSEA to produce AN/SPQ-9B ship protection radar systems, with potential value exceeding $235 million over five years if all options are exercised. The contract covers manufacturing, inspection, and testing of the radars and spare kits.
The AN/SPQ-9B is an X-band, pulse Doppler, frequency-agile radar designed for littoral environments with low false track rates in high clutter situations. It provides simultaneous air and surface target detection, tracking anti-ship cruise missiles, surface threats, low-flying aircraft, UAVs, periscopes, and helicopters.
Leonardo DRS reported strong Q3 2024 financial results with revenue up 16% to $812 million and net earnings up 21% to $57 million year-over-year. The company achieved significant growth across key metrics, including Adjusted EBITDA increasing 22% to $100 million and diluted EPS rising 17% to $0.21. Bookings reached $1.1 billion with a book-to-bill ratio of 1.3x, while backlog grew 75% to $8.3 billion. Based on strong performance, the company raised its 2024 guidance and provided preliminary 2025 outlook projecting 5-8% revenue growth.
Leonardo DRS, Inc. (NASDAQ: DRS) has been awarded a $77 million contract by General Dynamics Land Systems to provide additional mission equipment packages (MEP) for new SGT Stout Maneuver Short Range Air Defense (M-SHORAD) Stryker platforms. The company will be responsible for MEP assembly, integration, and testing.
The integrated MEP enables the SGT Stout Stryker to detect, identify, track, and defeat Group 3 unmanned aerial systems, rotary wing, and fixed wing threats. Three Division Air Defense Battalions have already received this capability.
Aaron Hankins, senior vice president and general manager of Leonardo DRS Land Systems, emphasized the urgent need to field this capability to U.S. Army divisions due to the increasing use of manned and unmanned aircraft in current conflicts. The company's integration capability extends across all domains to support force protection, computer networking, C5I, and naval power and propulsion systems.
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.
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