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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, Inc. (Nasdaq: DRS) announced its first-quarter 2024 financial results, showing significant growth across various financial metrics. Revenue reached $688 million, up 21% year-over-year, with net earnings up 142% to $29 million. Adjusted EBITDA increased by 43% to $70 million, and diluted EPS rose by 120% to $0.11. The company reported a book-to-bill ratio of 1.2x, bookings worth $815 million, and a backlog of $7.8 billion, up 84% year-over-year. Leonardo DRS expressed confidence in its 2024 guidance, anticipating solid performance throughout the year.
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