---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-007046"
form_type: "8-K"
ticker: "DRS"
cik: "0001833756"
company_name: "Leonardo DRS, Inc."
filed_at: "2024-02-27T23:59:59+00:00"
generated_at: "2026-06-05T12:50:46.707853+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Leonardo DRS FY 2023 revenue $2.8B (+5% YoY); record backlog $7.8B; initiates 2024 guidance

## Summary
- Q4 revenue $926M, FY revenue $2.8B; diluted EPS $0.64, adjusted $0.73.
- Record backlog $7.8B, up 82% YoY; book-to-bill ratio of 1.2.
- FY 2023 adjusted EBITDA $324M; net earnings $168M down 59% due to prior-year gain.
- Commences ~$120M capital investment for new naval propulsion facility near Charleston, SC.
- Investor Day confirmed for March 14, 2024.

## SEC filing metadata
- accession: 0001628280-24-007046
- form_type: 8-K
- ticker: DRS
- cik: 0001833756
- company_name: Leonardo DRS, Inc.
- filed_at: 2024-02-27T23:59:59+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/1833756/000162828024007046/0001628280-24-007046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833756/000162828024007046/drs-20240227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-007046
- JSON: https://secwatch.observer/filing/0001628280-24-007046.json
- Plain text: https://secwatch.observer/filing/0001628280-24-007046.txt

## Key facts
- Earnings Releases
  Leonardo DRS, Inc. reported fourth quarter and full year ended December 31, 2023 results: revenue $926 million for the fourth quarter and $2.8 billion for the year, net income $74 million for the fourth quarter and $168 million for the year, EPS $0.28 for the fourth quarter and $0.64 for the year. Guidance initiated.
  - Period: fourth quarter and full year ended December 31, 2023
  - Revenue: $926 million for the fourth quarter and $2.8 billion for the year
  - Net income: $74 million for the fourth quarter and $168 million for the year
  - EPS: $0.28 for the fourth quarter and $0.64 for the year
  - Guidance: initiated
  - Result: reported results
  source text: considered “filed” or incorporated by reference therein. --- EX-99.1 (EX-99.1) --- Leonardo DRS Announces Financial Results for Fourth Quarter and Full Year 2023 • Revenue: $926 million for the fourth quarter and $2.8 billion for the year • Net Earnings: $74 million for the fourth quarter and $168 million for the year • Adjusted EBITDA: $131 million for the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000162828024007046/0001628280-24-007046-index.htm

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