AcquisitionsJul 30, 2026, 07:31 AM
Leonardo DRS to Acquire Raft for $450M; Q2 Revenue Up 10%
AI Summary
Leonardo DRS reported strong financial results for the second quarter of 2026, with revenue increasing 10% to $913 million and net earnings rising 59% to $86 million. The company also announced the strategic acquisition of Raft for $450 million to enhance its multi-domain AI, data fusion, and mission software capabilities. Additionally, Leonardo DRS raised its 2026 guidance for Adjusted EBITDA and Adjusted Diluted EPS, declared a $0.09 per share cash dividend, and repurchased $12 million of common stock.
Key Highlights
- Announced acquisition of Raft for $450 million to expand AI and software capabilities.
- Q2 2026 Revenue: $913 million, up 10% year-over-year.
- Q2 2026 Net Earnings: $86 million, up 59% year-over-year.
- Q2 2026 Diluted EPS: $0.32, up 60% year-over-year.
- Record Funded Backlog: $5.1 billion, up 17% year-over-year.
- Increased 2026 guidance for Adjusted EBITDA and Adjusted Diluted EPS.
- Declared cash dividend of $0.09 per share.
- Repurchased $12 million of common stock in Q2.
Price Impact
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