Leonardo DRS (NASDAQ:DRS) Releases FY 2024 Earnings Guidance

Leonardo DRS (NASDAQ:DRS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.740-0.820 for the period, compared to the consensus estimate of 0.800. The company issued revenue guidance of $2.9 billion-$3.0 billion, compared to the consensus revenue estimate of $3.0 billion. Leonardo DRS also updated its FY24 guidance to $0.74-$0.82 EPS.

Wall Street Analyst Weigh In

A number of brokerages have commented on DRS. Truist Financial boosted their price objective on Leonardo DRS from $24.00 to $25.00 and gave the stock a buy rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. lowered their price objective on Leonardo DRS from $25.00 to $24.00 and set a neutral rating for the company in a research report on Friday, March 15th. Finally, Bank of America lifted their price objective on Leonardo DRS from $22.00 to $26.00 and gave the company a buy rating in a research report on Friday, March 15th.

Leonardo DRS Trading Up 1.1 %

DRS traded up $0.23 on Friday, reaching $21.22. 699,995 shares of the company traded hands, compared to its average volume of 598,959. The company has a quick ratio of 1.47, a current ratio of 1.96 and a debt-to-equity ratio of 0.15. The company has a market cap of $5.58 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.79. The firm has a fifty day simple moving average of $21.77 and a two-hundred day simple moving average of $20.22. Leonardo DRS has a one year low of $14.12 and a one year high of $24.00.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. The firm had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $645.56 million. During the same period in the previous year, the business posted $0.07 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts expect that Leonardo DRS will post 0.8 earnings per share for the current year.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.