---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-011093"
form_type: "8-K"
ticker: "DRS"
cik: "0001833756"
company_name: "Leonardo DRS, Inc."
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T21:36:44.917863+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Leonardo DRS reaffirms 2024 guidance, initiates 3-year framework with ~14% EBITDA margin target by 2026

## Summary
- Reaffirmed 2024 guidance previously issued on February 27, 2024.
- Targets 4%-7% organic revenue growth (2024-2026).
- Adjusted EBITDA margin target of ~14% by 2026.
- 80%-90% conversion of adjusted net earnings to free cash flow targeted.
- Capital deployment of 75%-100% of FCF toward value-enhancing M&A; net leverage target ~2x adjusted EBITDA.

## SEC filing metadata
- accession: 0001628280-24-011093
- form_type: 8-K
- ticker: DRS
- cik: 0001833756
- company_name: Leonardo DRS, Inc.
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1833756/000162828024011093/0001628280-24-011093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833756/000162828024011093/drs-20240314.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-011093
- JSON: https://secwatch.observer/filing/0001628280-24-011093.json
- Plain text: https://secwatch.observer/filing/0001628280-24-011093.txt

## Key facts
- Earnings Releases
  Leonardo DRS, Inc. updated its 2024 - 2026 guidance (initiated).
  - Period: 2024 - 2026
  - Guidance: initiated
  - Result: guidance update
  source text: Initiation of a strong three-year framework (2024 - 2026) for revenue, adjusted EBITDA and free cash flow
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000162828024011093/0001628280-24-011093-index.htm
- Earnings Releases
  Leonardo DRS, Inc. updated its guidance (reaffirmed).
  - Guidance: reaffirmed
  - Result: guidance update
  source text: On March 14, 2024, Leonardo DRS, Inc. (the "Company") issued a news release reporting, among other things, the reaffirmation of its financial guidance previously issued on February 27, 2024, the initiation of a three year framework for revenue, adjusted EBITDA and free cash flow as well as information related to targeted capital deployment.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1833756/000162828024011093/0001628280-24-011093-index.htm

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