Leonardo DRS Q4 Profit Rises; Sees Weak Adj. Earnings, Higher Revenues In FY23

(RTTNews) - Leonardo DRS (DRS), a provider of advanced defense technologies, reported Tuesday that its fourth-quarter net earnings grew 12 percent to $65 million from last year's $58 million.

Earnings per share were $0.28, up 3 percrent from $0.28 last year.

Adjusted net earnings were $81 million or $0.35 per share, compared to $63 million or $0.30 per share last year.

Revenues were $820 million, same as last year.

Looking ahead for fiscal 2023, Leonardo DRS expects adjusted earnings per share of $0.64 to $0.69, and revenues of $2.7 billion to $2.8 billion.

Adjusted EBITDA for the year is expected to be $315 million to $330 million.

In fiscal 2022, adjusted earnings per share were $0.83, adjusted EBITDA was $318 million and revenues were $2.69 billion.

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