Leonardo DRS, Inc. Stock Price, News & Analysis

Leonardo DRS (NASDAQ: DRS) has been honored with a BAE Systems 'Partner 2 Win' Supplier of the Year award for its exceptional performance in 2023. This recognition highlights DRS's commitment to customer satisfaction and strategic partnership. Jerry Hathaway, senior VP and GM of DRS's Electro-Optical and Infrared Systems unit, emphasized the strong partnership between DRS and BAE Systems.

BAE Systems' Partner 2 Win program aims to achieve operational excellence and eliminate defects in its supply chain. The program involves regular engagement with suppliers to share best practices and ensure high-quality components and materials. Ray Brousseau, VP of Operations at BAE Systems' Electronic Systems sector, acknowledged the important role of supply partners like DRS in developing cutting-edge technology and meeting customer needs.

Leonardo DRS (NASDAQ: DRS) has been awarded the 2024 James S. Cogswell Award for Outstanding Industrial Security Achievement by the Defense Counterintelligence and Security Agency (DCSA). The company's Naval Power Systems facility in Danbury, CT was one of only 14 chosen out of over 12,500 eligible cleared facilities in the National Industrial Security Program (NISP).

The award recognizes Leonardo DRS's exceptional security program, leadership, and support to other cleared defense contractors. It highlights the company's commitment to maintaining high standards for security and establishing best practices in industrial security excellence.

This marks Leonardo DRS's twenty-second Cogswell award, demonstrating their consistent dedication to protecting sensitive and classified programs for the Department of Defense. The rigorous selection process involves multiple superior industrial security review ratings and showcases sustained excellence in security program management and implementation.

Leonardo DRS (NASDAQ: DRS) announced the delivery of its 1,000th advanced sensor package, integral to BAE Systems’ 2-Color Advanced Warning System (2CAWS) for the U.S. Army's missile warning and hostile fire detection. This next-gen system enhances the survivability of U.S. Army aircrews by providing advanced 360-degree threat detection capabilities. The 2CAWS is part of the Interim Missile Warning System (LIMWS) Quick Reaction Capability program. Officials from U.S. Army and BAE Systems visited Leonardo DRS to celebrate this milestone.

Senior VP Jerry Hathaway emphasized the importance of this technology in current conflicts, such as Ukraine, for aircrew safety. The Leonardo DRS sensor package is designed to integrate with countermeasure systems, protecting against various missile threats, reinforcing its strategic role in U.S. military operations.

Leonardo DRS (Nasdaq: DRS) has announced a conference call scheduled for Tuesday, July 30, 2024, at 10:00 a.m. ET to discuss its second quarter 2024 financial results. The earnings press release will be issued prior to the call. Interested parties can register for the live audio broadcast on the company's investor relations website. A replay of the call will be accessible on the website approximately two hours post-conclusion and will be available for 90 days.

Leonardo DRS (NASDAQ: DRS) has secured another full-rate production contract with Northrop Grumman to supply Quantum Cascade Laser (QCL) technology for Common Infrared Countermeasure (CIRCM) systems. These systems are designed to protect U.S. military aircraft from missile threats. The CIRCM, a fifth-generation laser-based infrared countermeasure, has achieved Initial Operational Capability with the U.S. Army and is set for accelerated deployment on over 1,500 helicopters. The DRS QCLs are lightweight, multi-color laser systems that offer best-in-class performance in missile threat defense. This collaboration underscores DRS's strategic focus on advancing laser technology and enhancing aircraft survivability.

Leonardo DRS (NASDAQ: DRS) has secured a contract from NAVSEA for over $26 million, providing AN/SPQ-9B radar design and engineering services. The contract encompasses system engineering, software development, hardware design, and more.

The AN/SPQ-9B radar is designed for littoral environments, offering high clutter improvement and low false track rates. It supports detection and tracking of various threats including anti-ship cruise missiles, UAVs, and helicopters.

Leonardo DRS's expertise in complex design and manufacturing underpins support across naval, ground, air, space, and cyber missions.

Leonardo DRS, Inc. (NASDAQ: DRS) has been awarded a contract to supply the upgraded Aerial Refueling Operator Station (AROS 2.0) for the U.S. Air Force's KC-46 Pegasus refueling tanker fleet by Boeing Defense. The company will manufacture and deliver the AROS 2.0 units to Boeing for installation. DRS's expertise in complex manufacturing and technical design positions it as a leader in providing critical systems for air and space missions.

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.