secwatch.observer — SEC 8-K summary
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Issuer:     Leonardo DRS, Inc. (DRS)
CIK:        0001833756
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001628280-24-007046
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 FY 2023 revenue $2.8B (+5% YoY); record backlog $7.8B; initiates 2024 guidance
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833756/000162828024007046/0001628280-24-007046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833756/000162828024007046/drs-20240227.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-007046

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