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Business/Financial

Strong Defense Demand Paces Leonardo DRS In Second Quarter

By Cal Biesecker

Tuesday, July 30th, 2024

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Strong Defense Demand Paces Leonardo DRS In Second Quarter

William Lynn, Chairman and CEO of Leonardo DRS. (Photo: Leonardo DRS)

Driven by strong defense demand across its businesses, Leonardo DRS [DRS] on Tuesday reported higher sales and earnings in its second quarter. Net income increased 9 percent to $38 million, 14 cents earnings per share (EPS), from $35 million (13 cents EPS), driven largely by strong bottom-line gains at the Advanced Sensing and Computing (ASC) segment and lower taxes. Excluding income taxes, restructuring costs, amortization, and other non-operational items, adjusted per share earnings were 18 cents EPS, four cents above…

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