Leonardo DRS, Inc. reported second quarter 2026 financial results with revenue of $913 million, up 10% year-over-year, and net earnings of $86 million, a 59% increase. Diluted EPS rose to $0.32 from $0.20, while Adjusted EBITDA grew 33% to $128 million. The company secured $1.1 billion in new bookings, bringing the funded backlog to a record $5.1 billion. Management increased full-year 2026 guidance for Adjusted EBITDA to $525–$540 million and Adjusted Diluted EPS to $1.34–$1.39. Additionally, Leonardo DRS announced a $450 million acquisition of Raft to expand its AI and mission software capabilities. The company operates in the defense technology industry, providing advanced sensing, computing, and mission-critical systems.

Leonardo DRS, Inc. entered into a definitive agreement to acquire Raft LLC in an all-cash transaction valued at $450 million. Raft, founded in 2018 and headquartered in McLean, Virginia, specializes in open-architecture mission software, multi-domain data fusion, and artificial intelligence for national security customers. The acquisition is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions. DRS plans to fund the deal using cash on hand and borrowings under its revolving credit facility. The company anticipates the transaction will be accretive to Adjusted Diluted Earnings Per Share in the first full year of ownership and expects a present value tax benefit of approximately $50 million over the next 15 years. Leonardo DRS, Inc. operates in the defense technology industry, developing advanced sensing, network computing, and mission solutions for U.S. national security customers.