Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it was awarded a contract from NAVSEA to produce ship-based air and surface target detection AN/SPQ-9B radars. The contract includes options, if exercised over five years, would bring the cumulative value to more than $235 million. Under the contract, Leonardo DRS will manufacture, inspect, and test AN/SPQ-9B radars and associated spare kits. "The SPQ-9B radar is a vital ship protection system used across the fleet, and we are proud that the U.S. Navy continues to entrust us to produce this important defensive technology," said Cari Ossenfort, senior vice president and general manager of the Leonardo DRS Naval Electronics business unit.

Revenue: $812 million, up 16% year-over-year Net Earnings: $57 million, up 21% year-over-year Adjusted EBITDA: $100 million, up 22% year-over-year Diluted EPS: $0.21, up 17% year-over-year Adjusted Diluted EPS: $0.24, up 20% year-over-year Bookings: $1.1 billion (book-to-bill ratio of 1.3x) Backlog: $8.3 billion, up 75% year-over-year Raises 2024 guidance across all metrics Initiates preliminary 2025 guidance framework Leonardo DRS, Inc. (NASDAQ:DRS), a leading provider of advanced defense technologies, today reported financial results for the third quarter 2024, which ended September 30, 2024. CEO Commentary "We delivered strong third quarter results, highlighted by ro

Leonardo DRS, Inc. (NASDAQ:DRS) announced that it has been awarded a contract by General Dynamics Land Systems (GDLS) to provide additional mission equipment packages (MEP) for new SGT Stout Maneuver Short Range Air Defense (M-SHORAD) Stryker capability. The contract is valued at more than $77 million and as part of this contract Leonardo DRS will be responsible for MEP assembly, integration and test. With the integrated MEP, the SGT Stout Stryker allows soldiers to detect, identify, track, and defeat Group 3 unmanned aerial systems, rotary wing, and fixed wing threats. Three Division Air Defense Battalions have already received this urgently needed capability. "The use of manned and unma

Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it will celebrate its sixth year of sponsoring the "Stick It to Cancer" fundraiser at the United States Army (AUSA) expo in Washington, D.C. to recognize Breast Cancer Awareness Month, and support military members and their families dealing with breast cancer. To raise awareness of breast cancer, Leonardo DRS will again partner with The Henry M. Jackson Foundation for the Advancement of Military Medicine (HJF), Inc. The company will also donate to HJF to support breast cancer research and the Look Good Feel Better program associated with the Murtha Cancer Center and continuing education initiatives to enhance patient experience at Walter

Leonardo DRS, Inc. (NASDAQ:DRS) and BlueHalo announced today the successful live-fire demonstration of a new Counter Unmanned Aircraft System (C-UAS) Directed Energy (DE) Stryker designed to defeat Group 1-3 UAS with multiple kinetic and non-kinetic defeat technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241013774234/en/The Counter-UAS Directed Energy Stryker (Photo Courtesy: Leonardo DRS) During last month's demonstration for U.S. Army officials in Socorro, N.M., the mobile C-UAS capability successfully destroyed numerous drones using BlueHalo's 26kW LOCUST Laser Weapon System. Additionally, the demonstration include

Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it has opened a new facility designed to enhance collaboration on current and future programs based at the U.S. Army's Aberdeen Proving Grounds (APG ) in Aberdeen, Maryland. The new facility will introduce an engineering lab, specialized vehicle integration bays as well as fully equipped conference rooms to increase connectivity with Leonardo DRS program personnel and technologies. APG is home to several commands that oversee the development, testing and delivery of capabilities used by soldiers across the battlespace. Leonardo DRS works with these commands on several critical programs including networked C4ISR systems, electro-optical/

Leonardo DRS, Inc. (NASDAQ:DRS) has scheduled a conference call for Wednesday, October 30, 2024 beginning at 10:00 a.m. (ET) to discuss its third quarter 2024 results. The company plans to issue its quarterly earnings press release prior to the conference call. The live audio broadcast of Leonardo DRS's conference call with corresponding press release and supplemental information will be available on the company's investor relations website. To attend the conference call or webcast, participants should register online at https://investors.leonardodrs.com. A replay will be available on the company's website approximately two hours after the conclusion of the conference call and will remain

Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it has delivered, ahead of schedule, critical C5I capabilities for the Australian Army's Heavy Armoured Capability Systems. The delivery provides the new vehicles with the latest situational awareness technology allowing the Australian Army to keep ahead of new and emerging threats in the region. Through the U.S. Government Foreign Military Sales program, Leonardo DRS was selected to provide its next-generation ruggedized C5I Battle Management System (BMS) hardware for the new M1A2Sepv3 Main Battle Tanks; M1A2Sepv3 and M88A2 Recovery Vehicles; M1074 Joint Assault Bridge platforms, and M1150 Assault Breacher Vehicles. The Leonardo DRS BM

Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it has received an order for continued production of its next-generation thermal weapon sights for the U.S. Army. The production order for $117 million was made under the current Family of Weapon Sights – Individual (FWS-I) IDIQ contract. Leveraging DRS's uncooled thermal imaging technology, FWS-I is a stand-alone, clip-on weapon sight that connects wirelessly to helmet-mounted vision systems including the enhanced night vision goggle binoculars and the next-gen integrated visual augmentation system and provides rapid target acquisition capabilities to the soldier. It gives users the ability to acquire targets day or night and in a rang

Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it has been awarded a contract to build additional advanced Joint Assault Bridge systems for the U.S. Army and the Romanian military (through a Foreign Military Sales agreement). Under the contract, the award is worth more than $49 million. The Joint Assault Bridge (JAB) is a next-generation track-wheeled armored engineer vehicle built on a modified M1A1 Abrams Main Battle Tank chassis. It is designed to deliver assault-bridging capabilities and provide freedom of maneuver to U.S and allied armored forces. "We are proud to continue to deliver this robust and reliable system to the U.S. Army and allied militaries to ensure armored vehi

Truist Securities analyst Michael Ciarmoli maintains Leonardo DRS (NASDAQ:DRS) with a Buy and raises the price target from $27 to $30.

BTIG analyst Andre Madrid initiates coverage on Leonardo DRS (NASDAQ:DRS) with a Buy rating and announces Price Target of $30.

Truist Securities analyst Michael Ciarmoli maintains Leonardo DRS (NASDAQ:DRS) with a Buy and raises the price target from $25 to $27.

On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Energy Transfer LP (NYSE:ET). “You've got a winner there now. They have done a very good job,” he added. On May 28, Energy Transfer announced the acquisition of WTG Midstream in a $3.25 billion transaction. When asked about Obsidian Energy Ltd. (NYSE:OBE), he said, “You can hold it, but I'd rather see you in Coterra (NYSE:CTRA).” On May 2, Obsidian Energy posted weak earnings for its first quarter. The “Mad Money” host recommended selling SoundHound AI, Inc. (NASDAQ:SOUN). On May 9, SoundHound AI reported better-than-expected first-quarter financial results. When asked about Super Micro Computer, Inc. (NAS

Morgan Stanley analyst Kristine Liwag initiates coverage on Leonardo DRS (NASDAQ:DRS) with a Equal-Weight rating and announces Price Target of $26.

Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it was awarded a contract from Boeing Defense to provide the upgraded Aerial Refueling Operator Station (AROS 2.0) for new U.S. Air Force KC-46 Pegasus refueling tanker aircraft.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240507919660/en/Under the contract, DRS will manufacture the AROS 2.0 units and deliver them to Boeing for installation. The AROS 2.0 system is a replacement to the previous generation of AROS refueling operator stations. DRS was the original provider of the first generation of AROS with more than 85 consoles fielded to date."We are very proud to again be th

BofA Securities downgraded Leonardo DRS from Buy to Neutral and set a new price target of $30.00 from $26.00 previously

BTIG Research initiated coverage of Leonardo DRS with a rating of Buy and set a new price target of $30.00

Morgan Stanley initiated coverage of Leonardo DRS with a rating of Equal-Weight and set a new price target of $26.00

JP Morgan initiated coverage of Leonardo DRS with a rating of Neutral and set a new price target of $23.00

BofA Securities initiated coverage of Leonardo DRS with a rating of Buy and set a new price target of $20.00

Truist initiated coverage of Leonardo DRS with a rating of Buy and set a new price target of $19.00

CJS Securities initiated coverage of Leonardo DRS with a rating of Market Outperform and set a new price target of $17.00

Canaccord Genuity initiated coverage of Leonardo DRS with a rating of Buy and set a new price target of $17.00