Group 1 - L3Harris Technologies, Inc. is represented by Ken Bedingfield, who serves as both Chief Financial Officer and President of Aerojet Rocketdyne, one of the company's four business segments [1] - The conference call is part of the Barclays Americas Select Franchise Conference, indicating a focus on investor relations and strategic communication [1] - Ken Bedingfield has a background in accounting and has held significant roles at Northrop Grumman, including CFO of an operating segment, which adds depth to his perspective in the defense industry [5] Group 2 - The discussion includes forward-looking statements that involve risks and uncertainties, highlighting the importance of understanding potential challenges in the company's future [3] - The conference aims to provide insights into the company's strategic direction and operational performance, reflecting the interests of investors and analysts [2] - Ken Bedingfield's experience in both public and private sectors of the defense industry positions him uniquely to address current market dynamics [4]

Company Overview - L3Harris Technologies is a significant contractor in the aerospace and defense industry, employing approximately 46,000 individuals and serving over 100 countries globally [1]. Business Segments - The company operates through four distinct segments: integrated mission systems (IMS), space & airborne systems (SAS), communications systems (CS) [1].

L3harris Technologies (LHX) Conference May 06, 2025 08:30 AM ET Speaker0 Pleased to have L3 Harris and Ken Benningfield. Thanks making the trip across the pond, Ken and Dan. Ken is the Chief Financial Officer. He wears two hats, Chief Financial Officer and also President of Aerojet Rocketdyne, is one of the four business segments. So with that, I'll turn it over to Ken. I think forward looking statements, Safe Harbor. Speaker1 Sure. Yes. I'll just start by saying the statements and comments made today may i ...

Group 1 - The professional background includes experience in private banking, corporate finance, and strategic advisory across multiple continents [1] - A private banking department was developed and led in Dubai, focusing on tailored investment solutions for affluent clients in the Middle East [1] - Involvement in managing cross-border M&A transactions in Indonesia, with a successful track record in emerging markets [1] Group 2 - The goal is to provide well-researched commentary on various industries and asset classes, including high-growth technology equities and undervalued blue-chip stocks [1] - The aim is to help readers navigate complex global markets with a risk-aware and fundamentally driven investment approach [1]

L3Harris Technologies, Inc. (NYSE:LHX) Q1 2025 Earnings Conference Call April 24, 2025 10:30 AM ET Company Participants Dan Gittsovich – Vice President-Investor Relations Chris Kubasik – Chair and Chief Executive Officer Ken Bedingfield – Senior Vice President, Chief Financial Officer and President-Aerojet Rocketdyne Conference Call Participants Seth Seifman – J.P. Morgan Ronald Epstein – Bank of America Doug Harned – Bernstein Sheila Kahyaoglu – Jefferies Matt Akers – Wells Fargo Noah Poponak – Goldman Sac ...

L3Harris Technologies, Inc. (LHX) reported first-quarter 2025 adjusted earnings (from continuing operations) of $3.47 per share, which beat the Zacks Consensus Estimate of $2.32 by 3.9%. The bottom line also increased 7.1% from the year-ago quarter’s $2.25. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Excluding one-time items, the company reported GAAP earnings of $2.04 per share, up from $1.48 in the prior-year period. The year-over-year improvement in the bottom line can be att ...

L3Harris (LHX) reported $5.13 billion in revenue for the quarter ended March 2025, representing a year-over- year decline of 1.5%. EPS of $2.41 for the same period compares to $3.06 a year ago. View all Key Company Metrics for L3Harris here>>> Shares of L3Harris have returned +2.1% over the past month versus the Zacks S&P 500 composite's -5.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Revenue- Corporate eliminations: -$ ...

Financial Performance - Total revenue for the first quarter of 2025 was $5,132 million, a decrease of 1.5% from $5,211 million in the first quarter of 2024[90]. - The operating income for the first quarter of 2025 was $525 million, an increase from $378 million in the first quarter of 2024[90]. - Net EAC adjustments for the first quarter of 2025 resulted in a loss of $21 million before income taxes, compared to a gain of $19 million in the same period of 2024[79]. - The company completed the sale of its CAS disposal group for cash proceeds of $831 million, with a pre-tax loss of $17 million recognized in the first quarter of 2025[83][85]. - Capital expenditures for the first quarter of 2025 totaled $59 million, significantly lower than $115 million in the first quarter of 2024[100]. - The company reported a total of $301 million in depreciation and amortization for the first quarter of 2025, down from $320 million in the same period of 2024[100]. - The CS segment generated revenue of $1,352 million in the first quarter of 2025, up from $1,294 million in the first quarter of 2024[90]. - The IMS segment reported revenue of $1,592 million in the first quarter of 2025, a decrease from $1,627 million in the first quarter of 2024[90]. Environmental Liabilities - As of March 28, 2025, the estimated environmental liability under applicable statutes and regulations for identified sites was $637 million[105]. - The recoverable portion of environmental costs from the U.S. Government was recorded as $463 million as of March 28, 2025[106]. - The current and non-current portions of the estimated environmental liability are included in "Other current liabilities" and "Other long-term liabilities" on the balance sheet[105]. - The current and non-current portions of the recoverable costs are included in "Other current assets" and "Other non-current assets" on the balance sheet[106]. - The company is identified as a potentially responsible party under various environmental laws, with uncertainties regarding liability and cost sharing[104]. - The company is subject to numerous environmental laws and regulations, with some liabilities considered de minimis[104]. Legal Matters - The company is involved in various legal proceedings, but as of March 28, 2025, the accrual for potential unfavorable resolutions was not material[103]. - The company has recorded accruals for losses related to legal matters that are considered probable and can be reasonably estimated[103]. - The company’s management believes that any probable settlements or judgments will not have a material adverse effect on its financial condition[103]. Strategic Initiatives - The company is undergoing the LHX NeXt initiative, expected to continue through 2026, aimed at transforming multiple functions and increasing competitiveness[94]. Market Risk - There were no material changes in market risk exposure during the first quarter of 2025 compared to the previous fiscal year[176]. Backlog - As of March 28, 2025, the company's ending backlog was $33.2 billion, with an expectation to recognize approximately 50% of this revenue over the next twelve months[82].

Exhibit 99.1 Earnings Release L3Harris Technologies Reports First Quarter 2025 Results, Updates 2025 Guidance Highlights* MELBOURNE, Fla., April 24, 2025 — L3Harris Technologies (NYSE: LHX) reported first quarter 2025 diluted EPS of $2.04 on first quarter 2025 revenue of $5.1 billion. First quarter 2025 non-GAAP diluted EPS was $2.41. Reconciliations of non-GAAP results are detailed in tables beginning on page 10. "We're building on our momentum with a strong start to the year, driven by solid operational e ...

Core Viewpoint - L3Harris Technologies, Inc. (LHX) is expected to report first-quarter 2025 results on April 24, 2025, with a projected revenue growth of 0.9% year-over-year, despite a decline in earnings per share by 23.5% compared to the previous year [1][7][9]. Group 1: Revenue Performance by Segment - The Integrated Mission Systems (IMS) segment is anticipated to see a revenue increase of 1.4% year-over-year, with estimates at $1,692 million, driven by higher demand for defense electronics and airborne sensors [2]. - The Communication Systems unit is expected to report revenues of $1,309 million, reflecting a growth of 1.2% from the prior year, supported by increased demand for resilient communication equipment [3]. - The Aerojet Rocketdyne segment is projected to achieve revenues of $561.7 million, indicating a growth of 3.6% year-over-year, aided by synergies from its acquisition and strong demand for rocket motor production [4]. - The Space and Airborne Systems (SAS) segment is estimated to generate revenues of $1,719.4 million, which represents a decline of 1.8% from the previous year, impacted by the divestiture of its antenna business and challenges in classified development programs [5][6]. Group 2: Overall Financial Expectations - The overall revenue for LHX is estimated at $5.26 billion for the first quarter, marking a growth of 0.9% from the prior-year quarter [7]. - Despite solid revenue growth expectations, the earnings per share estimate is pegged at $2.34, reflecting a significant decline of 23.5% year-over-year, primarily due to lower non-cash non-service FAS pension income [9]. - The company has an Earnings ESP of -1.77% and a Zacks Rank of 3, indicating that the model does not predict a definitive earnings beat for this quarter [10].