FX.co ★ Leonardo DRS, Inc. Q1 Profit Increases, beats estimates

Leonardo DRS, Inc. recently announced that its earnings for the first quarter have grown compared to the same period the previous year, surpassing Wall Street's predictions.

The company’s net income for this quarter was $29 million, or $0.11 per share, a substantial rise from $12 million, or $0.05 per share, for the first quarter of the previous year.

When special items are excluded, Leonardo DRS, Inc. reported adjusted earnings of $38 million, or $0.14 per share for this quarter.

According to data compiled by Thomson Reuters, on average, analysts had predicted the company would earn $0.11 per share. These estimates typically do not consider special items.

The quarter's revenue for the company increased by 20.9%, amounting to $688 million, a notable rise from $569 million during the same period last year.

A quick glance at Leonardo DRS, Inc.’s earnings for the first quarter under Generally Accepted Accounting Principles (GAAP) shows:

- Earnings: $29 million, a sharp increase from $12 million the previous year.

- Earnings Per Share (EPS): $0.11, more than double the $0.05 the previous year.

- Quarter Revenue: $688 million, a substantial rise from $569 million the previous year.

From a future perspective, the company's full-year guidance estimates range from $0.74 to $0.82 for EPS, and $2.925 billion to $3.025 billion for total revenue.