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Leonardo DRS, Inc. DRS Q3 2026 earnings

Reported October 29, 2026 · Before market open

Revenue$1.1BBeat by $36.8M
EPS$0.46Beat by $0.11
Revenue estimate$1.0B
EPS estimate$0.35
“Leonardo DRS delivered a strong third quarter, with 11% organic revenue growth and profitability growing even faster. Bookings exceeded $1.6 billion, representing a 1.5x book-to-bill ratio — both our strongest since becoming a public company four years ago. These results reinforce a strategy that is working — investing ahead of demand, in both differentiated capability and capacity, to help our customers maintain overmatch and enable us to scale when the mission requires it. Our record funded backlog, together with improved visibility into the fourth quarter, gives us confidence to raise and narrow our full-year revenue and profitability outlook”
John Baylouny

Next report

Date not yet announced

Financials

Q3 2026

Income statement

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Revenue$1.1B+11.0%
Gross profit$263.0M+18.5%
Operating income$116.0M+24.7%
Net income$115.0M+59.7%
EPS (diluted)$0.43+65.4%

Balance sheet

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Cash & equivalents$294.0M-4.9%
Total debt$189.0M-47.1%
Total equity$2.9B+9.1%
Total assets$4.4B+3.0%

Cash flow

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Operating cash flow$96.0M-10.3%
CapEx$38.0M+26.7%

Valuation & ratios

Valuation

as of 10/30/26
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Market cap$10.58B+10.3%
Enterprise value$10.47B+8.7%
P/E29×-7.2×
P/S2.7×0.0×

Profitability

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Gross margin25.3%+1.9pp
Operating margin10.8%+1.3pp
Net margin9.4%+2.0pp

Returns & leverage

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Return on equity13.2%+2.8pp
Debt / equity0.1×-0.1×
Current ratio1.9×-0.1×

Segments

By segment

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ASC$659.0M+13.6%
IMS$428.0M+11.7%

By geography

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International$97.0M+3.2%

FAQ

When did Leonardo DRS, Inc. report Q3 2026 earnings?
Leonardo DRS, Inc. (DRS) reported Q3 2026 earnings on October 29, 2026 before market open.
What were Leonardo DRS, Inc.'s Q3 2026 revenue and EPS?
Leonardo DRS, Inc. reported revenue of $1.1B and eps of $0.46 for Q3 2026.
Did Leonardo DRS, Inc. beat estimates in Q3 2026?
Revenue beat the consensus estimate of $1.0B by $36.8M. EPS beat the consensus estimate of $0.35 by $0.11.
How did Leonardo DRS, Inc.'s Q3 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 11.0% from $960.0M a year earlier and eps grew 58.6% from $0.29.
Where can I find Leonardo DRS, Inc.'s Q3 2026 SEC filings?
You can read the 8-K earnings release (0001833756-26-000042) and the 10-Q periodic report (0001833756-26-000044) directly on SEC EDGAR. The filing index links above go to sec.gov.