Filing Flows › Leonardo DRS (DRS) › Q1 2025
Leonardo DRS (DRS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Leonardo DRS (DRS) reported revenue of $799M for the first quarter 2025 (Q1 2025), +16% from a year earlier and -19% from the quarter before. Operating margin was 7.4%, net earnings $50.0M (6.3% of revenue).
Leonardo DRS, Q1 2025: revenue $799M (+16% year over year), operating margin 7.4%, net earnings $50.0M, operating cash flow −$138M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $799M | -19% | +16% |
| Gross profit | $181M | -23% | +18% |
| Operating profit | $59.0M | -51% | +37% |
| Net earnings | $50.0M | -44% | +72% |
| Operating cash flow | −$138M | — | — |
What changed
Revenue was $799.0M in Q1 2025, up 16% year over year and down 19% from the previous quarter.
Gross margin was 22.7%, up 0.4 points from a year earlier. Operating profit was $59.0M, a 7.4% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, above the 6% margin then. Operating expenses grew 11% against revenue growth of 16%. Net earnings were $50.0M, up 72% year over year. The effective tax rate was 13.8%.
Operating cash flow was −$138.0M. Non-cash charges added back $23.0M of depreciation and amortization and $8.0M of share-based compensation. Working capital and other items used $219.0M. Capital expenditures of $32.0M exceeded it, leaving free cash flow of −$170.0M.
Questions
What was Leonardo DRS' revenue in the first quarter 2025?
Leonardo DRS (DRS) reported revenue of $799M for the first quarter 2025 (Q1 2025), +16% from a year earlier and -19% from the quarter before.
Was Leonardo DRS profitable in the first quarter 2025?
Operating profit was $59.0M (7.4% of revenue) and net earnings $50.0M.
Source: Leonardo DRS 10-Q on SEC EDGAR.