Leonardo DRS, Inc. is a prominent provider of advanced technology solutions and services primarily focused on the defense and aerospace sectors
The company specializes in delivering innovative systems in areas such as electronic warfare, sensors, and command and control capabilities, which enhance the effectiveness and safety of military operations. With a strong emphasis on research and development, Leonardo DRS works collaboratively with government and commercial partners to create cutting-edge products that meet the evolving needs of national security and defense. Their expertise also extends to supporting maritime and land-based platforms, further solidifying their role as a key player in the defense technology landscape.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the defense contractors industry, including Leonardo DRS (NASDAQDRS) and its peers.
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As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the defense contractors industry, including Leidos (NYSELDOS) and its peers.
Leonardo DRS has had an impressive run over the past six months as its shares have beaten the S&P 500 by 27.4%. The stock now trades at $33.58, marking a 37.9% gain. This was partly due to its solid quarterly results, and the run-up might have investors contemplating their next move.
Shares of aerospace and defense company Leonardo DRS (NASDAQDRS)
jumped 14.4% in the morning session after the company reported a "beat and raise" quarter. Third quarter results blew past analysts' revenue, EBITDA, and EPS expectations. The top line benefited from demand for programs related to advanced infrared sensing, force protection and tactical radars, while the bottom line was supported by improved volumes.
Aerospace and defense company Leonardo DRS (NASDAQDRS) reported Q3 CY2024 results topping the market’s revenue expectations, with sales up 15.5% year on year to $812 million. The company’s full-year revenue guidance of $3.18 billion at the midpoint also came in 1.2% above analysts’ estimates. Its GAAP profit of $0.21 per share was also 27.3% above analysts’ consensus estimates.
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