Leonardo DRS, Inc. (NASDAQ:DRS) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET

Company Participants

Stephen Vather - Vice President, Investor Relations and Corporate Finance

William Lynn - Chairman and CEO

Michael Dippold - Chief Financial Officer

Conference Call Participants

Robert Stallard - Vertical Research Partners

Michael Ciarmoli - Truist Securities

Andre Madrid - Bank of America

Jan-Frans Engelbrecht - Robert W. Baird

Operator

Ladies and gentlemen, good day, and welcome to the Leonardo DRS Third Quarter Fiscal Year 2023 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 given at that time. As a reminder, this event is being recorded.

I would like to now turn the conference over to Steve Vather, Vice President of Investor Relations and Corporate Finance. Please go ahead.

Stephen Vather

Good morning, and welcome, everyone. Thanks for participating on today's quarterly earnings conference call. With me today are Bill Lynn, our Chairman and CEO; and Mike Dippold, our CFO. They will discuss our strategy, operational highlights, financial results and forward outlook.

Today's call is being webcast on the Investor Relations portion of the website where you will also find the earnings release and supplemental presentation.

Management may also make forward-looking statements during this call regarding future events, anticipated future trends and anticipated future performance of the company. We caution you that such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Actual results may differ materially from those projected in the forward-looking statements due to a variety of factors. For a full discussion of these risk factors, please refer to our latest Form 10-K and our other SEC filings. We undertake no obligation to update any of the forward-looking statements made on this call.

During this call, management will also discuss non-GAAP financial measures, which we believe provide useful information for investors. These non-GAAP measures should not be evaluated in isolation or as a substitute for GAAP performance measures. You can find a reconciliation of the non-GAAP measures discussed on this call in our earnings release. At this time, I'll turn the call over to Bill. Bill?

William Lynn

Thanks, Steve, and thank you all for joining us this morning. Let me begin by sharing our heartfelt concern and deep support for the people of Israel. The horrific attacks that occurred last month demonstrate the dangerous and unpredictable nature of global threats that face us and our allies. We are thankful that our team and operations in Israel remain resilient, but we are closely monitoring the ongoing conflict with the priority on keeping our employees and their families safe. In the face of an elevated global threat environment, we are confident that there remains broad bipartisan support recognizing the critical need to maintain defense investment as well as the need to support our allies. The growing sophistication of our adversaries is driving increased customer demand for advanced technologies to deter and counter global threats effectively and efficiently. DRS broad and relevant technology portfolio, coupled with our agility and innovation continue to be key assets in supporting our customers' most challenging missions. This is exemplified by our most recent $3 billion plus contract award for the rest of Columbia-class electric power and propulsion systems.