Description

Leonardo DRS: 17th Straight Book To Bill Quarter Signals Durable Demand!

Leonardo DRS reported its first quarter fiscal 2026 results with revenue of $846 million, reflecting a 6% year-over-year increase. Adjusted EBITDA grew 28% to $105 million, resulting in an EBITDA margin expansion of 210 basis points to 12.4%. Adjusted diluted earnings per share rose 30% year-over-year to $0.26. The company attributes this growth to strong customer demand, particularly in tactical radars, infrared sensing, and electric power and propulsion programs, as well as favorable material receipt timing and operational leverage from increased volume. The backlog reached record levels, supported by a 17th consecutive quarter of book-to-bill at or above 1x revenue, enhancing visibility for full-year growth. Segment performance was robust, with the Advanced Sensing & Components (ASC) segment EBITDA up 48%, driven by improved execution, favorable program mix, and operational leverage.