Filing Flows › Leonardo DRS (DRS) › Q2 2026
Leonardo DRS (DRS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
Leonardo DRS (DRS) reported revenue of $913M for the second quarter 2026 (Q2 2026), +10% from a year earlier and +8% from the quarter before. Operating margin was 11.2%, net earnings $86.0M (9.4% of revenue).
Leonardo DRS, Q2 2026: revenue $913M (+10% year over year), operating margin 11.2%, net earnings $86.0M, operating cash flow $35.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $913M | +8% | +10% |
| Gross profit | $237M | +12% | +20% |
| Operating profit | $102M | +32% | +46% |
| Net earnings | $86.0M | +39% | +59% |
| Operating cash flow | $35.0M | — | — |
| Free cash flow | $6.0M | — | — |
What changed
Revenue was $913.0M in Q2 2026, up 10% year over year and up 8% from the previous quarter.
Gross margin was 26.0%, up 2.2 points from Q2 2025. Operating profit was $102.0M, a 11.2% margin (up 2.7 points year over year). Of the extra revenue versus Q2 2025, 38% reached operating profit, above the 8% margin then. Operating expenses grew 6% against revenue growth of 10%. Net earnings were $86.0M, up 59% year over year. The effective tax rate was 14.0%.
Operating cash flow was $35.0M, 41% of net earnings. Non-cash charges added back $26.0M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items used $84.0M. After capital expenditures ($29.0M), free cash flow as the company reports it was $6.0M.
Questions
What was Leonardo DRS' revenue in the second quarter 2026?
Leonardo DRS (DRS) reported revenue of $913M for the second quarter 2026 (Q2 2026), +10% from a year earlier and +8% from the quarter before.
Was Leonardo DRS profitable in the second quarter 2026?
Operating profit was $102M (11.2% of revenue) and net earnings $86.0M.
Source: Leonardo DRS 10-Q on SEC EDGAR.