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Leonardo DRS Ends Strong Year With Robust Fourth Quarter

Cal Biesecker By
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Leonardo DRS Ends Strong Year With Robust Fourth Quarter
John Baylouny, president and CEO of Leonardo DRS. Photo: Leonardo DRS

Leonardo DRS [DRS] on Tuesday posted solid fourth quarter results driven by higher sales for radar, naval electric power and propulsion, and infrared sensing programs and a tailwind related to licensing laser intellectual property for quantum applications. Net income in the quarter rose 15 percent to $102 million, 38 cents earnings per share (EPS), from $89 million (33 cents EPS). Excluding income taxes, interest expense, restructuring costs, depreciation, amortization of acquired intangibles and one-time non-operations costs, adjusted earnings of 42…

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