Filing Flows › Leonardo DRS (DRS) › Q2 2025
Leonardo DRS (DRS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Leonardo DRS (DRS) reported revenue of $829M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +4% from the quarter before. Operating margin was 8.4%, net earnings $54.0M (6.5% of revenue).
Leonardo DRS, Q2 2025: revenue $829M (+10% year over year), operating margin 8.4%, net earnings $54.0M, operating cash flow −$28.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $829M | +4% | +10% |
| Gross profit | $197M | +9% | +17% |
| Operating profit | $70.0M | +19% | +27% |
| Net earnings | $54.0M | +8% | +42% |
| Operating cash flow | −$28.0M | — | — |
What changed
Revenue was $829.0M in Q2 2025, up 10% year over year and up 4% from the previous quarter.
Gross margin was 23.8%, up 1.3 points from a year earlier. Operating profit was $70.0M, a 8.4% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 20% reached operating profit, above the 7% margin then. Operating expenses grew 11% against revenue growth of 10%. Net earnings were $54.0M, up 42% year over year. The effective tax rate was 19.4%.
Operating cash flow was −$28.0M. Non-cash charges added back $23.0M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items used $111.0M. Capital expenditures of $28.0M exceeded it, leaving free cash flow of −$56.0M.
Questions
What was Leonardo DRS' revenue in the second quarter 2025?
Leonardo DRS (DRS) reported revenue of $829M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +4% from the quarter before.
Was Leonardo DRS profitable in the second quarter 2025?
Operating profit was $70.0M (8.4% of revenue) and net earnings $54.0M.
Source: Leonardo DRS 10-Q on SEC EDGAR.