secwatch.observer — SEC 8-K summary
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Issuer:     Leonardo DRS, Inc. (DRS)
CIK:        0001833756
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001628280-23-036227
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833756/000162828023036227/0001628280-23-036227-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833756/000162828023036227/drs-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-036227

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