Leonardo signs EUR 3.70 billion deal. Leonardo stock gains 1.11 percent.

Leonardo (IT0003856405) stock was trading at EUR 47.41 at Lang & Schwarz on October 7, 2026 at 10:33 a.m. CEST, up 1.11 percent versus the prior close of EUR 46.89. On September 24, 2026, Leonardo secured a EUR 3.70 billion destroyer contract through its Orizzonte Sistemi Navali joint venture, according to Leonardo.

EUR 1.70 billion for Leonardo

The contract covers two DDX destroyers for the Italian Navy. Leonardo holds 49 percent of Orizzonte Sistemi Navali, while Fincantieri holds 51 percent, and Leonardo's share of the planned sub-supply work is valued at EUR 1.70 billion, including EUR 480 million in options, the company said.

Reuters reported on September 24, 2026, that the vessels are scheduled for delivery in 2033 and 2035. The contract therefore adds a long-dated defense program to Leonardo's order visibility, although the delivery schedule places the revenue contribution well beyond the current reporting cycle.

H1 orders rose 45.00 percent

Leonardo's first-half 2026 results showed new orders of EUR 16 billion, up 45.00 percent year on year, while revenue increased 12.00 percent to EUR 10 billion. EBITA reached EUR 780 million, a 34.00 percent increase, and free operating cash flow stood at negative EUR 249 million, according to Leonardo.

The comparison matters because order growth outpaced revenue growth by 33.00 percentage points in the first half of 2026. Leonardo also upgraded its fiscal-year 2026 guidance for orders, EBITA and free operating cash flow, linking the contract news to a broader expansion in its defense backlog rather than to a single program.

Stock remains below its yearly high

Leonardo's EUR 27.2 billion market capitalization on October 7, 2026 places the stock within a 52-week range of EUR 44.25 to EUR 66.26. The current Lang & Schwarz price is EUR 18.85 below the 52-week high, while the day's gain remains a separate comparison with the prior close.

The company calendar lists November 5, 2026 for approval of Leonardo's nine-month 2026 results, according to Leonardo. That date gives investors the next scheduled checkpoint for testing whether the 45.00 percent order increase is translating into revenue and cash generation.

EUR 47.41 in morning trading

Leonardo stock was trading at EUR 47.41 at Lang & Schwarz on October 7, 2026 at 10:33 a.m. CEST, up 1.11 percent versus the Lang & Schwarz prior close of EUR 46.89 on October 6, 2026. Leonardo is listed on Borsa Italiana under ticker LDO.MI and is a member of the FTSE MIB.

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