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Broad Strength Powers Leonardo DRS To Higher Earnings And Sales In Third Quarter

Cal Biesecker By
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Broad Strength Powers Leonardo DRS To Higher Earnings And Sales In Third Quarter
Leonardo DRS tactical radars. Photo: Leonardo DRS

Leonardo DRS [DRS] on Thursday posted double-digit top and bottom-line gains in the third quarter due to strength across its operating segments. Net income rose 60 percent to $115 million, 43 cents earnings per share (EPS), from $72 million (26 cents EPS) a year ago. Excluding certain non-operating costs such as acquisition transaction and restructuring costs, adjusted earnings of 46 cents were a dime higher than analysts’ estimates. Total operating margin was up 3.3 percent to 10.8 percent. Sales increased…

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