Leonardo DRS, Inc. Reports $12 Million Net Earnings in Q1 2023

Leonardo DRS, Inc.(DRS), a leading defense contr actor, has released its unaudited financial statements for the first quarter of 2023. The company reported a net income of $12 million for the quarter, reflecting a decrease compared to the previous year. Additionally, the total revenue generated during the period was $569 million, showing a decline from the same quarter in 2022. The company's performance comes amid various cost-saving measures and adjustments in its business operations.

Net Income/Loss

The company's net earnings for the three months ended March 31, 2023, were reported at $12 million, significantly lower than the $36 million recorded in the same period last year. This decline in net income highlights the challenges faced by Leonardo DRS, Inc. in a changing market landscape.

Revenue