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Leonardo S.p.A.
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Italian aerospace and defence group Leonardo left its 2026 guidance unchanged on Wednesday, despite a 33% rise in first-quarter core earnings, as the outgoing CEO said any revision should be decided by the incoming management.
Leonardo remains a Buy with a new $70.57 price target, implying 15% upside based on a refined 3-year EV/EBITDA valuation. Leonardo exceeded 2025 guidance, posting 10.9% revenue growth, 18.2% EBITA growth, and 20.5% free cash flow growth, with strong order momentum across segments. Margin expansion is underway, with EBITDA margins expected to rise steadily and free cash flow inflecting in 2027; net cash position anticipated by 2027.
Italy proposed to appoint Lorenzo Mariani as the new chief executive of defence group Leonardo , replacing Roberto Cingolani, the Treasury said in a statement on Thursday, confirming an earlier Reuters report.
Italy's government is leaning towards naming Lorenzo Mariani as the new chief executive of Leonardo , four sources said on Thursday, ousting Roberto Cingolani in what would be a major change at the helm of the country's leading defence group.
Italy is likely to replace Roberto Cingolani as chief executive of defence group Leonardo , two sources close to the matter told Reuters, in what would be a major change in a round of appointments at state-controlled companies.
Leonardo S.p.a. (FINMY) Discusses New Industrial Plan and Strategic Vision for Growth and Innovation Transcript
Leonardo disclosed its mid-term plan and targets, including doubling profits by 2030, sending shares up as much as 9%. Rheinmetall said Wednesday that it expects sales to grow between 40% and 45% in 2026.
