---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-009346"
form_type: "8-K"
ticker: "DRS"
cik: "0001833756"
company_name: "Leonardo DRS, Inc."
filed_at: "2023-03-28T23:59:59+00:00"
generated_at: "2026-06-17T13:27:54.867007+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-009346
- form_type: 8-K
- ticker: DRS
- cik: 0001833756
- company_name: Leonardo DRS, Inc.
- filed_at: 2023-03-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833756/000162828023009346/0001628280-23-009346-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833756/000162828023009346/drs-20230328.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-009346
- JSON: https://secwatch.observer/filing/0001628280-23-009346.json
- Plain text: https://secwatch.observer/filing/0001628280-23-009346.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000162828023009346/0001628280-23-009346-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000162828023009346/0001628280-23-009346-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.