Leonardo DRS Inc (STU:2VZ)

Q2 2026 Leonardo DRS Inc Earnings Call and to Acquire Raft LLC Transcript

Jul 30, 2026 / 02:00 PM GMT

Release Date Price: €39.65 (-2.10%)

Transcript 8-K

Key Points

Positve

Organic revenue growth accelerated to 10% year over year in Q2 2026.
Bookings exceeded $1 billion, driving a book-to-bill ratio of 1.2 times for the quarter.
Adjusted EBITA grew 33% year over year with 240 basis points of margin expansion.
Record funded backlog provides strong visibility into future growth.
Announced acquisition of Raft LLC to expand multi-domain AI, data fusion, and mission software capabilities.

Negative

Expect a continuing resolution to govern the calendar fourth quarter for fiscal '27 funding.
Q3 adjusted EBITDA margin expected to step down to mid-13% range due to non-recurring program risk retirement gains in Q2.
Revenue guidance maintained at $3.9 billion to $3.975 billion, implying a balanced view of second-half performance.
High capital expenditures expected in the second half, with CapEx likely in the mid-4% range of revenue.
Pending acquisition of Raft LLC not expected to contribute meaningfully to 2026 results due to late fourth-quarter close.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DRS.OQ - Leonardo DRS Inc
Q2 2026 Leonardo DRS Inc Earnings Call and to Acquire Raft LLC
Jul 30, 2026 / 02:00PM GMT

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Presentation
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You.

Ladies and gentlemen, good day and welcome full year 2026 earnings conference call at this time, all participants are in a listen-only mode.

Following the company's prepared remarks, there will be an opportunity to ask questions and instructions will be provided at that time.

As a reminder, this event is being recorded.

I would now like to turn the conference over to Steve Vather, Senior Vice President, Corporate Development and Investor relations, please go ahead.

Good morning and welcome everyone.

Thank you for joining today's quarterly earnings conference call with me today are John Baloni, our President and CEO, and Mike Gold, our CFO.

They

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