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Leonardo DRS, Inc. [DRS] reports annual net loss of $168.0 million
By USInMinutes - Feb 29, 2024, 06:00 AM ET
Last Updated - Feb 29, 2024, 06:00 AM EST
![Leonardo DRS, Inc. [DRS] reports annual net loss of $168.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FDRS.png&w=3840&q=75)
Company Reports Revenue of $2.8 billion
Leonardo DRS, Inc. [DRS] has reported a net loss of $168.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $2.8 billion
Based in ARLINGTON, Virginia, Leonardo DRS, Inc. operates in the MANUFACTURING sector.
In the Consolidated Statements of Earnings for the 12 Months Ended December 31, 2023, compared to the same period in the previous year:
Revenues:
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- Total revenues for the current period were $2.826 billion, slightly higher compared to $2.693 billion in the previous year.
Cost of Revenues:
- Total cost of revenues for the current period amounted to $2.178 billion, up from $2.118 billion in the previous year.
Net Income:
- The net earnings for the current period stood at $168 million, a decrease from $405 million in the previous year.
Earnings per Share:
- Basic and diluted earnings per share both remained the same at $0.64 in the current period, compared to $1.88 in the previous year.
For the Products segment:
Revenues:
- Total revenues for the current period amounted to $2.631 billion, showing an increase from $2.443 billion in the previous year.
Cost of Revenues:
- Total cost of revenues for the current period was $2.044 billion, higher than $1.928 billion in the previous year.
For the Services segment:
Revenues:
- Total revenues for the current period were $195 million, a decline from $250 million in the previous year.
Cost of Revenues:
- Total cost of revenues for the current period was $134 million, lower than $190 million in the previous year.
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