Leonardo DRS, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Leonardo DRS, Inc. (DRS) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $29 million, or $0.11 per share. This compares with $12 million, or $0.05 per share, in last year's first quarter.

Excluding items, Leonardo DRS, Inc. reported adjusted earnings of $38 million or $0.14 per share for the period.

Analysts on average had expected the company to earn $0.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.9% to $688 million from $569 million last year.

Leonardo DRS, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $29 Mln. vs. $12 Mln. last year. -EPS (Q1): $0.11 vs. $0.05 last year. -Revenue (Q1): $688 Mln vs. $569 Mln last year.

-Guidance: Full year EPS guidance: $0.74 to $0.82 Full year revenue guidance: $2.925 to $3.025 Bln