NASDAQ$DRS
Leonardo Drs Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported financial results for the fourth quarter and full year ended December 31, 2023.
Leonardo DRS reported strong Q4 2023 results with a 13% increase in revenue compared to 2022. Net earnings increased by 14% and adjusted EBITDA grew by 9%. The company's backlog reached a record $7.8 billion, up 82% from the prior year.
- Revenue for the fourth quarter was $926 million, a 13% increase year-over-year.
- Net earnings for the fourth quarter were $74 million, up 14% year-over-year.
- Adjusted EBITDA for the fourth quarter was $131 million, a 9% increase year-over-year.
- Backlog reached a record $7.8 billion, up 82% from the prior year.
Headline financials
Revenue & EPS history
Leonardo DRS · Revenue · Quarterly
$926M
Revenue by segment
Leonardo DRS · $708M total across 2 segments · Q3 2023
- Advanced Sensing & Computing$431M+5.6%60.9%
- Integrated Mission Systems$277M+21.0%39.1%
Forward guidance
Leonardo DRS initiates 2024 guidance with revenue expected to be between $2.925 billion and $3.025 billion and adjusted diluted EPS between $0.74 and $0.82.
Tailwinds
- Revenue between $2,925 million - $3,025 million
- Adjusted EBITDA between $365 million - $390 million
- Adjusted Diluted EPS between $0.74 - $0.82
Headwinds
- Tax Rate 22.5%
- Diluted Shares Outstanding 268.0 million
- Increase capital expenditures for 2024 and reduce free cash flow conversion of adjusted net earnings to approximately 80% for the year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.3%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+1.9%
Avg return
30 days after
52%
13 / 25 earnings
Positive
+12.4%
Q4 2025
Best reaction
-13.8%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | +3.3% | +16.7% | |
| Q4 2025 | +12.4% | +13.8% | +22.0% | |
| Q3 2025 | -4.3% | -8.9% | -15.0% | |
| Q1 2025 | +8.8% | +12.1% | +14.4% | |
| Q4 2024 | +5.6% | -0.7% | +11.7% | |
| Q3 2024 | +5.9% | +11.0% | +22.4% | |
| Q2 2024 | +0.0% | -6.0% | +0.3% | |
| Q1 2024 | -2.5% | +0.1% | +9.4% | |
| Q4 2023 | +6.7% | -4.0% | -10.4% | |
| Q3 2023 | +2.8% | +1.3% | -2.8% | |
| Q2 2023 | +1.5% | +5.3% | +5.9% | |
| Q1 2023 | +2.4% | +5.2% | +3.4% | |
| Q4 2022 | -5.1% | +0.9% | +16.7% | |
| Q3 2022 | -4.6% | -10.6% | -1.8% | |
| Q2 2022 | -1.1% | -5.3% | -6.3% | |
| Q1 2022 | +0.0% | -0.4% | +4.4% | |
| Q4 2021 | -13.8% | -14.1% | -8.0% | |
| Q4 2019 | -13.8% | -14.1% | -8.0% | |
| Q3 2020 | +2.3% | -0.4% | -8.9% | |
| Q3 2021 | +2.3% | -0.4% | -8.9% | |
| Q2 2021 | -3.1% | -0.5% | -5.5% | |
| Q2 2020 | -3.1% | -0.5% | -5.5% | |
| Q4 2020 | +3.2% | +4.5% | +0.7% | |
| Q1 2020 | +3.2% | +4.5% | +0.7% | |
| Q1 2021 | +3.2% | +4.5% | +0.7% |
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