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Leonardo DRS, Inc. - DRS STOCK NEWS

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.

News

Leonardo DRS Unveils Stretto Family of Laser Systems for Quantum Information Science Applications

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Leonardo DRS, Inc. (NASDAQ: DRS) has launched the Stretto family of high-precision lasers, covering the ultraviolet, visible, and near-infrared spectrum. The technology is designed for quantum information science, offering reliability, adaptability, and resistance to temperature and pressure fluctuations. The product is aimed at quantum sensors, clocks, and computing systems, positioning DRS for success in leading the future of sensing.
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Leonardo DRS Awarded Contracts Valued at Over $3 Billion for U.S. Navy’s Columbia-Class Submarine Program

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Leonardo DRS, Inc. (NASDAQ: DRS) has been awarded contracts valued at over $3 billion to provide integrated electric propulsion system products for the U.S. Navy’s Columbia-class submarines. This contract solidifies DRS’s position through shipset 12 for the Columbia-class program. The company was chosen by General Dynamics Electric Boat and the U.S. Navy to design and manufacture key components of the primary propulsion system of the next-generation ballistic missile submarine fleet. The Columbia-class submarines are designed to replace the fleet of Ohio-class submarines and will be the largest ever built by the United States. Leonardo DRS is a leading provider of next-generation electrical power conversion and propulsion technology for the U.S. Navy.
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Leonardo DRS Hybrid Electric Drive Propulsion System Successful in Republic of Korea Navy Sea Trials of First Ulsan-Class Frigate

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Leonardo DRS, Inc. (NASDAQ: DRS) successfully completes sea trials for the Ulsan-Class Future Frigate experimental Batch-3 (FFX-III) for the Republic of Korea Navy. The hybrid electric drive propulsion system features advanced permanent magnet propulsion motors, supporting the ship’s anti-submarine warfare (ASW) mission with less noise generation and superior fuel economy. The sea trial showcased exceptional performance, economy, safety features, and the ability to meet and exceed all performance requirements. The ROK Navy plans to begin deployment of the ship immediately.
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Leonardo DRS Announces Pricing of an Upsized Secondary Offering of Common Stock by a Leonardo S.p.A. Subsidiary

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Leonardo DRS Inc. (NASDAQ: DRS) announced the pricing of an upsized public secondary offering of 18,000,000 shares of its common stock at an offering price of $17.75 per share by Leonardo US Holding, LLC. The offering is expected to close on November 21, 2023, subject to customary closing conditions. Upon completion of the offering, Leonardo S.p.A. will beneficially own approximately 73.3% of the outstanding common stock of DRS. The shares of common stock in the offering are being offered pursuant to an automatically effective shelf registration statement on Form S-3 filed with the SEC on November 15, 2023.
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Leonardo DRS Announces Launch of Proposed Secondary Offering of Common Stock by a Leonardo S.p.A. Subsidiary

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Leonardo DRS Inc. (NASDAQ: DRS) has announced a public secondary offering of 16,500,000 shares of its common stock by Leonardo US Holding, LLC, a subsidiary of Leonardo S.p.A. The underwriters have a 30-day option to purchase up to an additional 2,475,000 shares. After the offering, Leonardo S.p.A. is expected to own approximately 73.9% of DRS's outstanding common stock. DRS is not offering any shares and will not receive any proceeds from the sale. Morgan Stanley, BofA Securities, and J.P. Morgan are acting as joint book-running managers for the offering.
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Leonardo DRS Awarded More than $134 Million Production Order for Family of Weapon Sights

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Leonardo DRS, Inc. has received an order for the continued production of its next-generation thermal weapon sights for the U.S. Army. The production order is worth over $134 million and was made under the Family of Weapon Sights – Individual (FWS-I) IDIQ contract. The FWS-I is a stand-alone, clip-on weapon sight that connects wirelessly to helmet-mounted vision systems, providing soldiers with rapid target acquisition capabilities day or night and in smoke or fog.
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Leonardo DRS Announces Financial Results for Third Quarter 2023

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Leonardo DRS, a leading defense technology provider, reported strong financial results for Q3 2023. Revenues increased by 11% to $703 million, while net earnings decreased by 83% to $47 million. Adjusted EBITDA rose by 41% to $82 million, and diluted EPS dropped by 87% to $0.18. The company also announced a $3 billion contract for the electric power and propulsion system on seven Columbia Class submarines. The 2023 guidance was updated to narrow the revenue and adjusted EBITDA ranges and raise the adjusted diluted EPS range.
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Leonardo DRS Awarded Contract for Prototype Next-Generation Joint Effects Targeting System II for Forward Observers

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Leonardo DRS has been awarded a contract by the U.S. Army to produce a prototype of the next-generation Joint Effects Targeting System II (JETS II) multi-sensor targeting technology for Forward Observers. The 30-month performance prototype contract aims to improve precision accuracy and reduce weight, leading to higher target success rates and greater protection for warfighters on the ground.
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Leonardo DRS On Board Vehicle Power System Shines in Major U.S. Army Evaluation

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Leonardo DRS successfully demonstrates On Board Vehicle Power technology for vehicle-based electrical power.
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Leonardo DRS Celebrates Five Years of Going Pink at AUSA to Raise Money for Military Women and Family Members Suffering from Breast Cancer

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Leonardo DRS sponsors “Stick It to Cancer” fundraiser at AUSA expo to support breast cancer programs
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FAQ

What is the current stock price of Leonardo DRS (DRS)?

The current stock price of Leonardo DRS (DRS) is $34.96 as of November 20, 2024.

What is the market cap of Leonardo DRS (DRS)?

The market cap of Leonardo DRS (DRS) is approximately 9.2B.

What does Leonardo DRS, Inc. specialize in?

Leonardo DRS specializes in naval and maritime systems, ground combat mission command and network computing, global satellite communications and network infrastructure, avionics systems, and intelligence and security solutions.

Where is Leonardo DRS, Inc. headquartered?

Leonardo DRS, Inc. is headquartered in Arlington, Virginia.

Who owns Leonardo DRS, Inc.?

Leonardo DRS, Inc. is a wholly owned subsidiary of Leonardo S.p.A.

What are the main segments of Leonardo DRS, Inc.?

Leonardo DRS, Inc. operates mainly through two segments: Advanced Sensing and Computing, and Integrated Mission Systems.

What is the Advanced Sensing and Computing segment responsible for?

The Advanced Sensing and Computing segment designs, develops, and manufactures sensing and network computing technology to enable real-time situational awareness for operational decision-making and execution.

How many employees does Leonardo S.p.A. have worldwide?

Leonardo S.p.A., the parent company of Leonardo DRS, employs more than 47,000 people worldwide.

What kind of technologies does Leonardo DRS, Inc. provide?

Leonardo DRS, Inc. provides technologies across land, air, sea, space, and cyber domains, including advanced sensing, network computing, force protection, and electric power and propulsion technologies.

Where can I find more information about Leonardo DRS, Inc.?

More information about Leonardo DRS, Inc. can be found on their official website at www.leonardodrs.com and on their Twitter account @drstechnologies.

What recent achievements has Leonardo DRS, Inc. made?

Leonardo DRS has made significant advancements in force protection and electric power and propulsion technologies.

What kind of customers does Leonardo DRS, Inc. serve?

Leonardo DRS serves military forces, intelligence agencies, defense contractors, and a range of commercial customers.

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Leonardo DRS, Inc.

Nasdaq:DRS

DRS Rankings

#909 Ranked by Market Cap
N/A Ranked by Dividends

DRS Stock Data

9.24B
74.31M
71.9%
26.82%
0.67%
Aerospace & Defense
Search, Detection, Navagation, Guidance, Aeronautical Sys
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United States of America
ARLINGTON