Leonardo DRS Q4 revenue flat at $820M; FY net earnings up 163% to $405M; backlog record $4.3B

Leonardo DRS, Inc.

Q4 revenue $820M flat YoY; full-year revenue $2.7B, down 6% from $2.879B.
Full-year net earnings $405M (diluted EPS $1.88) up 163% vs $154M; adjusted EPS $0.83.
Record backlog $4.3B, up 49% driven by Columbia Class electric propulsion contract.
Full-year bookings $3.2B, book-to-bill ratio of 1.2x.
Initiates 2023 guidance; CEO cites strong demand and focuses on operational execution.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Leonardo DRS, Inc. reported Fourth Quarter 2022 results: revenue $820 million, net income $65 million, EPS $0.28. Guidance initiated.

Period: Fourth Quarter 2022
Revenue: $820 million
Net income: $65 million
EPS: $0.28
Guidance: initiated
Result: reported results

Exact text from the filing

Leonardo DRS Announces Financial Results for Fourth Quarter and Fiscal Year 2022 • Revenue: $820 million for the fourth quarter and $2.7 billion for the year • Net Earnings: $65 million for the fourth quarter and $405 million for the year • Adjusted EBITDA: $120 million for the fourth quarter and $318 million for the year • Diluted EPS: $0.28 for the fourth quarter and $1.88 for the year • Adjusted Diluted EPS: $0.35 for the fourth quarter and $0.83 for the year • Bookings: $852 million for the fourth quarter and $3.2 billion for the year (book-to-bill ratio of 1.2) • Backlog: A record $4.3 billion, up 49% as result of a multi-boat Columbia Class electric power and propulsion contract • Initiates solid 2023 guidance

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Leonardo DRS, Inc. reported Full Year 2022 results: revenue $2.7 billion, net income $405 million, EPS $1.88. Guidance initiated.

Period: Full Year 2022
Revenue: $2.7 billion
Net income: $405 million
EPS: $1.88
Guidance: initiated
Result: reported results

Exact text from the filing

Leonardo DRS Announces Financial Results for Fourth Quarter and Fiscal Year 2022 • Revenue: $820 million for the fourth quarter and $2.7 billion for the year • Net Earnings: $65 million for the fourth quarter and $405 million for the year • Adjusted EBITDA: $120 million for the fourth quarter and $318 million for the year • Diluted EPS: $0.28 for the fourth quarter and $1.88 for the year • Adjusted Diluted EPS: $0.35 for the fourth quarter and $0.83 for the year • Bookings: $852 million for the fourth quarter and $3.2 billion for the year (book-to-bill ratio of 1.2) • Backlog: A record $4.3 billion, up 49% as result of a multi-boat Columbia Class electric power and propulsion contract • Initiates solid 2023 guidance

View on SEC.gov

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Leonardo DRS, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-009346

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