Leonardo DRS Announces Financial Results for Third Quarter 2026
Key Highlights
- ➤Q3 revenue $1.1 billion, up 11% year-over-year
- ➤Q3 adjusted diluted EPS $0.46, up 59% year-over-year
- ➤Bookings $1.6 billion, with a 1.5x book-to-bill ratio
- ➤Record funded backlog $5.6 billion, up 21% year-over-year
- ➤Raises 2026 revenue, adjusted EBITDA and adjusted diluted EPS guidance
Expert Statements
John Baylouny, President and CEO of Leonardo DRS
“Leonardo DRS delivered a strong third quarter, with 11% organic revenue growth and profitability growing even faster. Bookings exceeded $1.6 billion, representing a 1.5x book-to-bill ratio — both our strongest since becoming a public company four years ago. These results reinforce a strategy that is working — investing ahead of demand, in both differentiated capability and capacity, to help our customers maintain overmatch and enable us to scale when the mission requires it. Our record funded backlog, together with improved visibility into the fourth quarter, gives us confidence to raise and narrow our full-year revenue and profitability outlook”
* Revenue: $1.1 billion, up 11% year-over-year * Net Earnings: $115 million, up 60% year-over-year * Adjusted EBITDA: $149 million, up 27% year-over-year * Diluted EPS: $0.43, up 65% year-over-year * Adjusted Diluted EPS: $0.46, up 59% year-over-year * Bookings: $1.6 billion (book-to-bill ratio of 1.5x) * Record Funded Backlog: $5.6 billion, up 21% year-over-year * Raises 2026 guidance for Revenue, Adjusted EBITDA and Adjusted Diluted EPS * Dividend: Company declares cash dividend of $0.09 per share to be paid on November 25, 2026 ARLINGTON, Va., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Leonardo DRS, Inc. (Nasdaq: DRS), a leading provider of advanced defense technologies, today reported financial results for the third quarter 2026, which ended September 30, 2026.
CEO Commentary “Leonardo DRS delivered a strong third quarter, with 11% organic revenue growth and profitability growing even faster. Bookings exceeded $1.6 billion, representing a 1.5x book-to-bill ratio — both our strongest since becoming a public company four years ago. These results reinforce a strategy that is working — investing ahead of demand, in both differentiated capability and capacity, to help our customers maintain overmatch and enable us to scale when the mission requires it. Our record funded backlog, together with improved visibility into the fourth quarter, gives us confidence to raise and narrow our full-year revenue and profitability outlook,” said John Baylouny, President and CEO of Leonardo DRS.
Get started
Create a free account to read the full story.