secwatch.observer — SEC 8-K summary
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Issuer:     Leonardo DRS, Inc. (DRS)
CIK:        0001833756
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001628280-23-015213
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833756/000162828023015213/0001628280-23-015213-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833756/000162828023015213/drs-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-015213

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer