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Leonardo DRS Reports Strong Third Quarter Financials

Cal Biesecker By
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Leonardo DRS Reports Strong Third Quarter Financials
Leonardo DRS benefited from strong orders and sales of its tactical radars in the third quarter. Photo: Leonardo DRS

Benefiting from its sensing, radar, and force protection work, Leonardo DRS [DRS] on Wednesday posted strong third quarter sales and earnings, continuing its robust momentum this year. Net income jumped 21 percent to $57 million, 21 cents earnings per share (EPS), from $47 million (18 cents EPS) a year ago. Adjusting for certain amortization, transaction, restructuring and one-time non-operational costs, per share earnings of 24 cents topped consensus estimates by a nickel. Adjusted operating margin increased 50 basis points to…

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