Leonardo DRS, Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Leonardo DRS, Inc. (DRS) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $50 million, or $0.19 per share. This compares with $29 million, or $0.11 per share, last year.

Excluding items, Leonardo DRS, Inc. reported adjusted earnings of $54 million or $0.20 per share for the period.

Analysts on average had expected the company to earn $0.17 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 16.1% to $799 million from $688 million last year.

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

-Earnings: $50 Mln. vs. $29 Mln. last year. -EPS: $0.19 vs. $0.11 last year. -Revenue: $799 Mln vs. $688 Mln last year.

-Guidance: Full year EPS guidance: $1.02 - $1.08 Full year revenue guidance: $3.425-$3.525 Bln