---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-015213"
form_type: "8-K"
ticker: "DRS"
cik: "0001833756"
company_name: "Leonardo DRS, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:34:16.863232+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Leonardo DRS Q1 revenue $569M, EPS $0.05; bookings strong at 1.3x book-to-bill

## Summary
- Revenue $569M, down 7% YoY from $612M; net earnings $12M, down 67% from $36M.
- Diluted EPS $0.05 (adjusted $0.07) vs $0.17 prior year.
- Bookings $749M, book-to-bill ratio 1.3x; backlog $4.3B.
- Adjusted EBITDA $49M; company reaffirms full-year 2023 guidance.
- CEO Bill Lynn notes solid start, ahead of expectations, strong demand.

## SEC filing metadata
- accession: 0001628280-23-015213
- form_type: 8-K
- ticker: DRS
- cik: 0001833756
- company_name: Leonardo DRS, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833756/000162828023015213/0001628280-23-015213-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833756/000162828023015213/drs-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-015213
- JSON: https://secwatch.observer/filing/0001628280-23-015213.json
- Plain text: https://secwatch.observer/filing/0001628280-23-015213.txt

## Key facts
- Earnings Releases
  Leonardo DRS, Inc. reported first quarter ended March 31, 2023 results: revenue $569 million, net income $12 million, EPS $0.05. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2023
  - Revenue: $569 million
  - Net income: $12 million
  - EPS: $0.05
  - Guidance: reaffirmed
  - Result: reported results
  source text: Leonardo DRS Announces Financial Results for First Quarter 2023 • Revenue: $569 million • Net Earnings: $12 million • Adjusted EBITDA: $49 million • Diluted EPS: $0.05 • Adjusted Diluted EPS: $0.07 • Bookings: $749 million (book-to-bill ratio of 1.3x) • Backlog: $4.3 billion • Reaffirms 2023 guidance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000162828023015213/0001628280-23-015213-index.htm

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