---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-036227"
form_type: "8-K"
ticker: "DRS"
cik: "0001833756"
company_name: "Leonardo DRS, Inc."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:55:51.482439+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Leonardo DRS Q3 revenue $703M, up 11% YoY; bookings $1.1B; wins $3B+ sub contract

## Summary
- Revenue $703M (+11% YoY); net earnings $47M; diluted EPS $0.18; adjusted diluted EPS $0.20.
- Bookings $1.1B (book-to-bill 1.5x); backlog $4.7B.
- Awarded over $3B contract for electric power/propulsion on remaining Columbia Class submarines.
- Updates 2023 guidance: narrows revenue and adjusted EBITDA ranges, raises adjusted diluted EPS range.
- Adjusted EBITDA $82M; strong operational cash flow expected in Q4 according to management.

## SEC filing metadata
- accession: 0001628280-23-036227
- form_type: 8-K
- ticker: DRS
- cik: 0001833756
- company_name: Leonardo DRS, Inc.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833756/000162828023036227/0001628280-23-036227-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833756/000162828023036227/drs-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-036227
- JSON: https://secwatch.observer/filing/0001628280-23-036227.json
- Plain text: https://secwatch.observer/filing/0001628280-23-036227.txt

## Key facts
- Earnings Releases
  Leonardo DRS, Inc. reported third quarter ended September 30, 2023 results: revenue $703 million, net income $47 million, EPS $0.18. Guidance raised.
  - Period: third quarter ended September 30, 2023
  - Revenue: $703 million
  - Net income: $47 million
  - EPS: $0.18
  - Guidance: raised
  - Result: reported results
  source text: is to be considered “filed” or incorporated by reference therein. --- EX-99.1 (EX-99.1) --- Leonardo DRS Announces Financial Results for Third Quarter 2023 • Revenue: $703 million • Net Earnings: $47 million • Adjusted EBITDA: $82 million • Diluted EPS: $0.18 • Adjusted Diluted EPS: $0.20 • Bookings: $1.1 billion (book-to-bill ratio of 1.5x) • Backlog:
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000162828023036227/0001628280-23-036227-index.htm

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