Leonardo DRS Q4 Profit Beats Estimates; Sees Annual Earnings Below View - Update

(RTTNews) - (Adds Outlook)

For the full year, Leonardo DRS, Inc. (DRS) expects earnings below analysts' estimates.  

For the 12-month period, the company expects adjusted income per share of $0.74 to $0.82, compared with analysts' view of $0.83 per share.  

Annual revenue is projected to be in the range $2.925 billion to $3.025 billion, in line with the Street view of $2.97 billion.

DRS was trading up by 2.77 percent at $21.67 per share in the pre-market trade on the Nasdaq.

Q4 Results:

Leonardo DRS revealed earnings for fourth quarter that beat the Street estimates.

The company's bottom line totaled $74 million, or $0.28 per share. This compares with $65 million, or $0.28 per share, in last year's fourth quarter.

Excluding items, Leonardo DRS, Inc. reported adjusted earnings of $83 million or $0.31 per share for the period.

Analysts on average had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.9% to $926 million from $820 million last year.

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

-Earnings (Q4): $74 Mln. vs. $65 Mln. last year. -EPS (Q4): $0.28 vs. $0.28 last year. -Analyst Estimates: $0.29 -Revenue (Q4): $926 Mln vs. $820 Mln last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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