$DRS
Leonardo DRS, Inc.

2023 Q2 Form 10-Q Financial Statement

#000162828023015776 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $628.0M $569.0M $820.0M
YoY Change 0.16% -7.03% 2481.86%
Cost Of Revenue $483.0M $438.0M $636.0M
YoY Change -3.4% -8.37% 3301.07%
Gross Profit $145.0M $131.0M $184.0M
YoY Change 14.17% -2.24% 1308.88%
Gross Profit Margin 23.09% 23.02% 22.44%
Selling, General & Admin $90.00M $100.0M $96.00M
YoY Change 1557.46% 1769.16% 2028.6%
% of Gross Profit 62.07% 76.34% 52.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.00M $22.00M $17.00M
YoY Change 42.86% 46.67%
% of Gross Profit 13.79% 16.79% 9.24%
Operating Expenses $103.0M $106.0M $97.00M
YoY Change 836.36% 1191.11% 1277.84%
Operating Profit $42.00M $25.00M $87.00M
YoY Change 0.0% -55.36% 1345.18%
Interest Expense -$9.000M $8.000M -$7.000M
YoY Change -190.0% 0.0% 2233.33%
% of Operating Profit -21.43% 32.0% -8.05%
Other Income/Expense, Net $0.00 -$1.000M -$2.000M
YoY Change
Pretax Income $33.00M $16.00M $78.00M
YoY Change 3.13% -66.67% 1266.02%
Income Tax -$2.000M $4.000M $13.00M
% Of Pretax Income -6.06% 25.0% 16.67%
Net Earnings $35.00M $12.00M $65.00M
YoY Change 40.0% -66.67% 1248.55%
Net Earnings / Revenue 5.57% 2.11% 7.93%
Basic Earnings Per Share $0.14 $0.05
Diluted Earnings Per Share $0.13 $0.05 $0.15
COMMON SHARES
Basic Shares Outstanding 261.0M shares 260.5M shares 145.0M shares
Diluted Shares Outstanding 264.0M shares 262.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.00M $174.0M $306.0M
YoY Change -37.16% 164.04% 288.82%
Cash & Equivalents $35.00M $174.0M $306.0M
Short-Term Investments
Other Short-Term Assets $68.00M $29.00M $24.00M
YoY Change 134.48% 16.0% 9.09%
Inventory $378.0M $364.0M $319.0M
Prepaid Expenses $17.00M $19.00M $20.00M
Receivables $1.216B $158.0M $166.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.697B $1.712B $1.707B
YoY Change 10.41% 12.85% 22.89%
LONG-TERM ASSETS
Property, Plant & Equipment $402.0M $402.0M $404.0M
YoY Change 1045.3% 1075.44% 1194.87%
Goodwill $1.236B $1.236B $1.236B
YoY Change 29.83% 29.56% 15.41%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $166.0M $92.00M $92.00M
YoY Change 69.39% -5.15% -32.85%
Total Long-Term Assets $1.965B $1.969B $1.970B
YoY Change 30.48% 29.88% 17.26%
TOTAL ASSETS
Total Short-Term Assets $1.697B $1.712B $1.707B
Total Long-Term Assets $1.965B $1.969B $1.970B
Total Assets $3.662B $3.681B $3.677B
YoY Change 20.34% 21.36% 19.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $290.0M $258.0M $457.0M
YoY Change -0.34% 4.03% -4.59%
Accrued Expenses $142.0M $143.0M $164.0M
YoY Change 4971.43% 5007.14% 7030.43%
Deferred Revenue $292.0M $247.0M $233.0M
YoY Change 87.18% 43.6% 33.91%
Short-Term Debt $0.00 $15.00M $10.00M
YoY Change -100.0% 66.67% -33.33%
Long-Term Debt Due $136.0M $250.0M $29.00M
YoY Change -2.86% 34.41%
Total Short-Term Liabilities $943.0M $1.019B $1.042B
YoY Change 3.51% 10.4% 5.36%
LONG-TERM LIABILITIES
Long-Term Debt $357.0M $360.0M $365.0M
YoY Change
Other Long-Term Liabilities $165.0M $111.0M $98.00M
YoY Change 135.71% 70.77% 32.43%
Total Long-Term Liabilities $522.0M $519.0M $508.0M
YoY Change 10.13% 9.26% 4.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $943.0M $1.019B $1.042B
Total Long-Term Liabilities $522.0M $519.0M $508.0M
Total Liabilities $1.473B $1.538B $1.550B
YoY Change 6.35% 10.01% 5.01%
SHAREHOLDERS EQUITY
Retained Earnings -$2.927B -$2.962B -$2.974B
YoY Change 0.17% 0.51% -0.3%
Common Stock $3.000M $3.000M $3.000M
YoY Change 200.0% 200.0% 200.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.189B $2.143B $2.127B
YoY Change
Total Liabilities & Shareholders Equity $3.662B $3.681B $3.677B
YoY Change 20.34% 21.36% 19.81%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $35.00M $12.00M $65.00M
YoY Change 40.0% -66.67% 1248.55%
Depreciation, Depletion And Amortization $20.00M $22.00M $17.00M
YoY Change 42.86% 46.67%
Cash From Operating Activities -$12.00M -$334.0M $279.0M
YoY Change -192.31% 30.98%
INVESTING ACTIVITIES
Capital Expenditures $12.00M $15.00M $30.00M
YoY Change 33.33% 15.38%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.000M $18.00M
YoY Change
Cash From Investing Activities -$12.00M -$14.00M -$12.00M
YoY Change 33.33% 7.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -115.0M $216.0M -24.00M
YoY Change 139.58% 53.19%
NET CHANGE
Cash From Operating Activities -12.00M -$334.0M 279.0M
Cash From Investing Activities -12.00M -$14.00M -12.00M
Cash From Financing Activities -115.0M $216.0M -24.00M
Net Change In Cash -139.0M -$132.0M 243.0M
YoY Change 215.91% 3.94%
FREE CASH FLOW
Cash From Operating Activities -$12.00M -$334.0M $279.0M
Capital Expenditures $12.00M $15.00M $30.00M
Free Cash Flow -$24.00M -$349.0M $249.0M
YoY Change -700.0% 30.22%

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CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
12000000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
36000000 usd
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
260553101 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
260553101 shares

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
0001628280-23-015776-index-headers.html Edgar Link pending
0001628280-23-015776-index.html Edgar Link pending
0001628280-23-015776.txt Edgar Link pending
0001628280-23-015776-xbrl.zip Edgar Link pending
drs-20230331.htm Edgar Link pending
drs-20230331.xsd Edgar Link pending
drs-20230331_cal.xml Edgar Link unprocessable
drs-20230331_def.xml Edgar Link unprocessable
drs-20230331_lab.xml Edgar Link unprocessable
drs-20230331_htm.xml Edgar Link completed
Financial_Report.xlsx Edgar Link pending
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drs-20230331_pre.xml Edgar Link unprocessable
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report.css Edgar Link pending
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signed_ex311x2023q1xceocer.htm Edgar Link pending
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