Leonardo secures EUR 1.70 billion naval deal. Leonardo stock gains 1.57 percent

Published on 10/09/2026 at 11:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half orders rose 45.00 percent to EUR 16.00 billion. Leonardo stock costs EUR 46.57 on October 9, 2026 after EUR 45.85, plus 1.57 percent.

Key points in brief

Leonardo secured a EUR 1.70 billion allocation in a EUR 3.70 billion naval contract dated September 24, 2026.
First-half 2026 orders rose 45.00 percent to EUR 16.00 billion, while revenue increased 12.00 percent to EUR 10.00 billion.
Leonardo stock was trading at EUR 46.57 at Lang & Schwarz on October 9, 2026, up 1.57 percent versus the prior close.

Pop-Art-Comic-Illustration eines stilisierten Kampfjets über einer Stadtsilhouette — Pop-Art-Comic mit Kampfjet visualisiert Luftfahrt- und Rüstungsbranche von Leonardo S.p.A., ISIN IT0003856405, Illustration mit AI erstellt.

Leonardo (IT0003856405) had secured a EUR 1.70 billion allocation in a EUR 3.70 billion naval contract on September 24, 2026, while Leonardo stock was up 1.57 percent at Lang & Schwarz on October 9, 2026. The contract covers two DDX destroyers for the Italian Navy and gives the aerospace and defense group a fresh order milestone.

First-half orders set the base

According to Leonardo, first-half 2026 orders reached EUR 16.00 billion, up 45.00 percent year over year. Revenue rose 12.00 percent to EUR 10.00 billion, adjusted EBITA increased 34.00 percent to EUR 780.00 million, and free operating cash flow stood at minus EUR 249.00 million.

The figures came with upgraded fiscal 2026 guidance for orders, adjusted EBITA and free operating cash flow. For investors, the combination of a larger order book and higher profitability guidance provides the operating backdrop for the naval award.

Three dated events changed the picture

On July 30, 2026, Leonardo reported EUR 16.00 billion of first-half orders and a 45.00 percent year-over-year increase. On September 17, 2026, Leonardo said its ESA-led study brought together an industrial ecosystem spanning seven European countries. On September 24, 2026, Leonardo received the EUR 1.70 billion share of the DDX program.

What does the naval contract add?

The naval award gives Leonardo a defined EUR 1.70 billion work allocation through Orizzonte Sistemi Navali, a joint venture in which Leonardo holds 49.00 percent. The first and second destroyers are scheduled for delivery in 2033 and 2035, respectively, making the contract a long-duration industrial program rather than a one-quarter revenue event.

The market is also weighing valuation. Bolsamania reported on October 1, 2026 that Bank of America cut its Leonardo price target from EUR 79.50 to EUR 71.00 while retaining a Buy recommendation.

Upcoming dates carry the next test

The next reporting date listed by Leonardo is November 5, 2026, when the company plans to publish nine-month 2026 results. The DDX program adds two longer-term milestones, with deliveries scheduled for 2033 and 2035 according to Leonardo.

Stock gains 1.57 percent in trading

Leonardo stock was trading at EUR 46.57 at Lang & Schwarz on October 9, 2026 at 11:34 a.m. CEST, up 1.57 percent versus the prior close of EUR 45.85 on October 8, 2026. The 52-week range was EUR 44.25 to EUR 66.26 as of October 9, 2026, and market capitalization was EUR 26.9 billion.

The further course of trading is shown by the continuously updated real-time quote of Leonardo stock.