Highest-materiality recent filing
Leonardo DRS Q2 revenue up 10% to $913M, EPS $0.32, raises guidance, acquires Raft for $450M
Revenue $913M (+10% YoY); net earnings $86M (+59%); diluted EPS $0.32 (+60%).
Leonardo DRS to acquire Raft LLC for $450M in all-cash deal
Acquisition of Raft LLC for $450M all-cash; expected to close Q4 2026.
Leonardo DRS adopts updated Code of Ethics and Business Conduct
Board approved new Code of Conduct on July 15, 2026, effective July 17, 2026.
All proposals pass at Leonardo DRS 2026 annual meeting
All nine director nominees elected; highest vote 250M+, lowest 247M+ shares for.
Leonardo DRS Q1 revenue up 6% to $846M, net earnings up 24%, raises 2026 guidance
Revenue $846M (+6% YoY); net earnings $62M (+24%); adjusted EBITDA $105M (+28%).
Leonardo DRS board: David Carey retires, Reuben Jeffery III appointed April 1
David W. Carey, director since 2009, retires March 31, 2026; no disagreement with the company.
Leonardo DRS Q4 revenue $1.06B, FY EPS $1.03; backlog $8.7B, initiates 2026 guidance
Q4 revenue $1,060M, up 8% YoY; full-year revenue $3,648M, up 13% YoY.
Leonardo DRS enters $500M revolving credit facility, replaces prior credit agreement
Five-year $500M senior unsecured revolving credit facility with JPMorgan; initial SOFR margin 1.250%.
Leonardo DRS appoints Sally Wallace as COO effective Jan 1, 2026
Sally Wallace, 20-year DRS veteran, succeeds John Baylouny as COO; Baylouny became CEO on Jan 1.
Leonardo DRS Q3 2025 revenue $960M (+18% YoY), EPS $0.26 (+24%)
Revenue $960M (+18% YoY); net earnings $72M (+26%); adjusted diluted EPS $0.29 (+21%).
Leonardo DRS CEO Lynn to retire; COO Baylouny named CEO, Townsend Chair effective Jan 1 2026
William J. Lynn III to retire as CEO and Chairman effective Dec 31, 2025; will remain employee through Apr 1, 2026.
Leonardo DRS Q2 revenue $829M (+10% YoY), EPS $0.20 (+43%), revises guidance
Revenue $829M (+10% YoY); net earnings $54M (+42%); diluted EPS $0.20 (+43%).
Leonardo DRS shareholders approve removal of supermajority voting requirements
Amendment eliminates 66 2/3% supermajority requirement in charter and bylaws, effective June 5, 2025.
Leonardo DRS Q1 2025: Revenue $799M (+16% YoY), EPS $0.19 (+73%)
Revenue $799M, up 16% YoY; net earnings $50M, up 72%.
DCSA approves Amended Proxy Agreement for Leonardo DRS to mitigate foreign ownership risks
DCSA approved Amended & Restated Proxy Agreement effective March 1, 2025; received March 11, 2025.
Leonardo DRS Q4 revenue $981M, EPS $0.33; full-year revenue $3.2B, backlog up 10%
Q4 revenue $981M (+6% YoY), diluted EPS $0.33 (+18% YoY), adjusted diluted EPS $0.38.
Leonardo DRS reappoints proxy holder directors Townsend and Krieg through 2027
Frances Townsend and Kenneth Krieg reappointed as Class B proxy holder directors, effective Jan 1, 2025.
Leonardo DRS Q3 revenue $812M (+16%); raises FY 2024 guidance, backlog $8.3B up 75%
Q3 revenue $812M (+16% YoY); net earnings $57M (+21%); diluted EPS $0.21 (+17%).
Leonardo DRS Q2 revenue $753M (+20% YoY); EPS $0.14 (+8%); raises 2024 guidance
Revenue of $753M (+20% YoY); net earnings $38M (+9%); adjusted EBITDA $82M (+32%).
Leonardo DRS stockholders approve ESPP (2M shares) and amended equity plan at annual meeting
ESPP authorized up to 2M shares; purchase price 90% of FMV on purchase date; payroll deductions up to 10% of compensation.
Leonardo DRS Q1 revenue $688M, up 21% YoY; net earnings $29M, up 142%
Revenue $688M, up 21% YoY; net earnings $29M, up 142% YoY.
Reaffirmed 2024 guidance previously issued on February 27, 2024.
Leonardo DRS FY 2023 revenue $2.8B (+5% YoY); record backlog $7.8B; initiates 2024 guidance
Q4 revenue $926M, FY revenue $2.8B; diluted EPS $0.64, adjusted $0.73.
Leonardo DRS voluntarily delists from Tel Aviv Stock Exchange; continues on Nasdaq
Delisting from TASE effective December 31, 2023, three months after request on September 27, 2023.
Leonardo DRS reappoints Gen. George W. Casey as proxy holder director through 2026
Gen. Casey's term was set to expire Dec 31, 2023; reappointed effective Jan 1, 2024 for 3 years.
Leonardo DRS closes secondary offering of 20.7M shares at $17.75 by parent subsidiary
Selling stockholder Leonardo US Holding sold 20.7M shares at $17.75, including full underwriter option exercise of 2.7M shares.
Leonardo DRS Q3 revenue $703M, up 11% YoY; bookings $1.1B; wins $3B+ sub contract
Revenue $703M (+11% YoY); net earnings $47M; diluted EPS $0.18; adjusted diluted EPS $0.20.
Leonardo DRS voluntarily delisting from Tel Aviv Stock Exchange; Nasdaq listing unchanged
Voluntary delisting from TASE requested on Sep 27, 2023; expected effective in three months.
Leonardo DRS Q2 net earnings up 40% to $35M; narrows FY2023 guidance
Q2 net earnings $35M ($0.13 diluted EPS), up 40% from $25M; adjusted EPS $0.15.
Leonardo S.p.A. reports half-year revenues up 6.4% to €6.9B; DRS segment EBITA drops 19%
Group revenues €6,894M (+6.4% adjusted), EBITA €430M (+5.7% adjusted), net result €208M (-22.1% vs 1H22).
Leonardo DRS stockholders approve officer exculpation amendment, elect directors at annual meeting
Stockholders approved charter amendment to limit officer liability for breach of duty of care, effective June 6, 2023.
Leonardo DRS Q1 revenue $569M, EPS $0.05; bookings strong at 1.3x book-to-bill
Revenue $569M, down 7% YoY from $612M; net earnings $12M, down 67% from $36M.
Leonardo DRS Q4 revenue flat at $820M; FY net earnings up 163% to $405M; backlog record $4.3B
Q4 revenue $820M flat YoY; full-year revenue $2.7B, down 6% from $2.879B.
Leonardo DRS adjusts prior filings for 1.4513-for-1 stock split effective Nov 23, 2022
Stock split ratio 1.451345331-for-1; outstanding shares increased from 145M to ~210.4M.
Leonardo S.p.A. FY2022: revenue €14.7B, net result €932M, dividend €0.14
New orders €17.3B (+21% YoY), backlog €37.5B, book-to-bill 1.2x.
Parent Leonardo S.p.A. reports FY2022: orders €17.3B (+21%), revenue €14.7B, EBITDA €1.2B
Group new orders €17.3B (+21% adj.), book-to-bill 1.2x; revenue €14.7B (+4.7% adj.), EBITDA €1.2B (+14.9%).
Leonardo DRS sets 2023 annual meeting for June 1; record date April 3
Annual meeting will be held virtually on June 1, 2023.
David W. Carey reappointed as proxy holder director for term expiring Dec 31, 2025.
Leonardo DRS enters $500M credit facility: $225M term loan + $275M revolver
Five-year Credit Agreement with Bank of America provides $225M Term A Loan and $275M Revolving Credit Facility.
Leonardo DRS closes all-stock merger with RADA; RADA holders get 19.5% stake; pro forma rev $2.7B
Pro forma 2021 revenue ~$2.7B and Adjusted EBITDA ~$305M; DRS stock begins trading on Nasdaq and TASE.
Director Philip A. Odeen's term expires; Kenneth J. Krieg joins Compensation Committee
Philip A. Odeen's term as proxy holder director ended July 31, 2022.
Leonardo DRS updates 2021 10-K to reflect new segment structure effective Q1 2022
New reportable segments: Advanced Sensing and Computing and Integrated Mission Systems.
Leonardo DRS completes $450M sale of Global Enterprise Solutions business to SES
Sale closed on August 1, 2022 for $450 million cash, subject to purchase price adjustments.
Leonardo DRS reappoints Philip A. Odeen as proxy holder director through July 31, 2022
Philip A. Odeen reappointed as Class A proxy holder director effective July 1, 2022, subject to DCSA approval.
All-stock merger: each RADA ordinary share exchanges for 1 share of Leonardo DRS common; pro forma ownership: Leonardo SpA 80.5%, RADA shareholders 19.5%.
Leonardo DRS appoints EY as new auditor, dismisses KPMG with no disagreements
Audit Committee selected Ernst & Young as independent registered public accounting firm for FY ending Dec 31, 2022.
Audit Committee selected EY as independent registered public accounting firm for FY2022, subject to completion of acceptance procedures.
Leonardo DRS to sell GES business to SES Government Solutions for $450M cash
Sale of Global Enterprise Solutions (GES) for $450M to SES Government Solutions, a subsidiary of SES S.A.
Leonardo DRS reappoints Krieg, Odeen, Townsend, and Gen. Casey as directors effective Dec 31, 2021
Kenneth J. Krieg and Frances F. Townsend reappointed as Class B proxy holder directors until Dec 2024.
Philip A. Odeen reappointed as proxy holder director at Leonardo DRS through Dec 2021
Reappointment effective June 30, 2021; term extended to December 31, 2021 or until successor appointed.
extended the term of, and reappointed, General George W. Casey (Ret.) as a proxy holder director to the Board.
appointed Dr. Louis R. Brothers, each as a proxy holder director to the Board of Directors of the Company
Concurrently, effective January 1, 2023, the Board appointed Ms. Frances F. Townsend to serve as Lead Outside Director of the Board until earlier resignation or removal, replacing Mr. Carey in such function.
whose term is due to expire on December 31, 2022 at which point he will cease to be a proxy holder director
Concurrently, effective January 1, 2023, the Board appointed Ms. Frances F. Townsend to serve as Lead Outside Director of the Board until earlier resignation or removal, replacing Mr. Carey in such function.
New Director Appointment In accordance with the terms of the Merger Agreement, the Company and RADA mutually agreed to appoint Eric C. Salzman
Effective July 31, 2022, Mr. Philip A. Odeen’s term as a proxy holder director of the Board of Directors of Leonardo DRS, Inc. (the “Company”), expired.
extended the term of, and reappointed, Philip A. Odeen as a proxy holder director to the Board. The appointment is effective July 1, 2022, subject to approval by the Defense Counterintelligence and Security Agency.
Max materiality 0.85 · Median 0.60 · Most common event earnings