Leonardo DRS, Inc. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| (In millions, except per share amounts) | 2025 | 2024 | 2023 | ||||||||||||||
Net earnings | $ | 278 | $ | 213 | $ | 168 | |||||||||||
| Basic weighted average number of shares outstanding | 265.9 | 263.7 | 261.5 | ||||||||||||||
| Impact of dilutive stock-based awards | 2.8 | 4.0 | 2.7 | ||||||||||||||
| Diluted weighted average number of shares outstanding | 268.7 | 267.7 | 264.2 | ||||||||||||||
| Basic earnings per share | $ | 1.05 | $ | 0.81 | $ | 0.64 | |||||||||||
| Diluted earnings per share | $ | 1.03 | $ | 0.80 | $ | 0.64 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Mar 28, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.