Leonardo DRS (DRS) reported third-quarter 2026 revenue of $1.066 billion, up 11% from a year earlier, and net earnings of $115 million, up 60%. Diluted earnings per share were $0.43, compared with $0.26 in the prior-year quarter.
The defense technology company raised its 2026 revenue, adjusted EBITDA and adjusted diluted EPS guidance. Third-quarter bookings totaled $1.639 billion and funded backlog reached a record $5.640 billion.
- Third-quarter revenue was $1.066 billion, versus $960 million a year earlier.
- Net earnings were $115 million, versus $72 million; basic EPS was $0.43 and diluted EPS was $0.43.
- Bookings were $1.639 billion, producing a 1.5x book-to-bill ratio.
- Funded backlog was $5.640 billion, up 21% year over year.
- 2026 revenue guidance increased to $3.950 billion to $3.985 billion.
- The board declared a $0.09-per-share cash dividend payable November 25, 2026.
$DRS Insider Trading Activity
$DRS insiders have traded $DRS stock on the open market 11 times in the past 6 months. Of those trades, 1 have been purchases and 10 have been sales.
Here’s a breakdown of recent trading of $DRS stock by insiders over the last 6 months:
- JOHN BAYLOUNY (President and CEO) sold 36,471 shares for an estimated $1,665,630
- MICHAEL DIPPOLD (EVP and CFO) has made 0 purchases and 2 sales selling 28,635 shares for an estimated $1,142,006.
- REUBEN III JEFFERY purchased 25,000 shares for an estimated $1,069,327
- JASON RINSKY (EVP Chief Tax and Treasury) has made 0 purchases and 3 sales selling 11,594 shares for an estimated $533,517.
- MARK DORFMAN (EVP, GC and Secretary) has made 0 purchases and 2 sales selling 13,007 shares for an estimated $529,773.
- PAMELA MORROW (SVP and Controller) sold 11,545 shares for an estimated $521,025
- SALLY WALLACE (EVP, Chief Operating Officer) sold 1,300 shares for an estimated $65,000
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$DRS Hedge Fund Activity
We have seen 217 institutional investors add shares of $DRS stock to their portfolio, and 166 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BESSEMER GROUP INC added 2,215,137 shares (+4430274.0%) to their portfolio in Q2 2026, for an estimated $94,519,895
- WELLINGTON MANAGEMENT GROUP LLP removed 1,498,542 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $63,942,787
- AQR CAPITAL MANAGEMENT LLC added 1,355,595 shares (+44.1%) to their portfolio in Q2 2026, for an estimated $57,843,238
- MILLENNIUM MANAGEMENT LLC added 933,598 shares (+373.1%) to their portfolio in Q2 2026, for an estimated $39,836,626
- PRICE T ROWE ASSOCIATES INC /MD/ removed 833,985 shares (-24.7%) from their portfolio in Q2 2026, for an estimated $35,586,139
- D. E. SHAW & CO., INC. removed 680,972 shares (-65.3%) from their portfolio in Q2 2026, for an estimated $29,057,075
- VOYA INVESTMENT MANAGEMENT LLC removed 636,319 shares (-20.2%) from their portfolio in Q2 2026, for an estimated $27,151,731
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
