Core Viewpoint - L3Harris Technologies, Inc. reported strong third-quarter 2024 results with adjusted earnings per share of $3.34, exceeding estimates and showing year-over-year growth, driven by solid revenue and operating income growth [1][2]. Financial Performance - Adjusted earnings per share of $3.34 beat the Zacks Consensus Estimate of $3.27 by 2.1% and increased 4.7% from $3.19 in the same quarter last year [1] - Total revenues reached $5.29 billion, slightly missing the consensus estimate by 0.5%, but reflecting a 7.7% increase from $4.92 billion year-over-year [2] - GAAP earnings were reported at $2.10 per share, up from $2.02 in the prior-year period [1] Revenue Drivers - The revenue increase was attributed to the acquisition of Aerojet Rocketdyne and organic growth of 5%, primarily from resilient communication products and night vision devices [2] - Integrated Mission Systems segment revenues grew 6.6% to $1.67 billion, driven by higher aircraft missionization volumes and advanced electronics demand [3] - Communication Systems segment revenues increased 10.1% to $1.38 billion, supported by strong demand for communication equipment and night vision devices [4] Segment Performance - Space and Airborne Systems segment revenues were nearly flat at $1.68 billion, impacted by the divestiture of the antenna business [3] - Aerojet Rocketdyne segment reported a 31% revenue increase to $596 million, with operating income rising to $75 million from $56 million [4] Financial Position - As of September 27, 2024, L3Harris had $539 million in cash and cash equivalents, down from $560 million at the end of 2023 [5] - Long-term debt decreased to $11.09 billion from $11.16 billion [6] - Net cash flow from operating activities was $1.43 billion for the first nine months of 2024, compared to $1.31 billion in the prior-year period [6] Guidance - L3Harris updated its 2024 revenue guidance to a range of $21.10-$21.30 billion, with adjusted earnings expected between $12.95-$13.15 per share [7] - The adjusted segment operating margin is now expected to be 15.5%, an increase from the previous guidance [7] Market Position - L3Harris currently holds a Zacks Rank 3 (Hold), indicating a stable outlook in the market [8]

L3Harris (LHX) reported $5.29 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 7.7%. EPS of $3.34 for the same period compares to $3.19 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.32 billion, representing a surprise of -0.45%. The company delivered an EPS surprise of +2.14%, with the consensus EPS estimate being $3.27.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

L3Harris (LHX) came out with quarterly earnings of $3.34 per share, beating the Zacks Consensus Estimate of $3.27 per share. This compares to earnings of $3.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.14%. A quarter ago, it was expected that this technology and communications company would post earnings of $3.18 per share when it actually produced earnings of $3.24, delivering a surprise of 1.89%.Over the last four qu ...

Exhibit 99.1 Earnings Release L3Harris Technologies Reports Strong Third Quarter 2024 Results, Increases 2024 Guidance Highlights* • Orders of $7.2 billion; book-to-bill of 1.4x • Revenue of $5.3 billion, up 8%, and 5% organically • Operating margin of 9.4%; adjusted segment operating margin of 15.7% • Diluted earnings per share (EPS) of $2.10; non-GAAP diluted EPS of $3.34 • 2024 revenue guidance range increased to $21.1B - $21.3B • 2024 adjusted segment operating margin guidance increased to ~15.5% • 2024 ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? L3Harris (LHX) , which belongs to the Zacks Aerospace - Defense industry, could be a great candidate to consider.When looking at the last two reports, this technology and communications company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 3.88%, on average, in the last two quarters.For the most rece ...

Core Insights - L3Harris (LHX) is expected to report quarterly earnings of $3.26 per share, reflecting a 2.2% increase year-over-year, with revenues forecasted at $5.31 billion, representing an 8% year-over-year increase [1][2] Earnings Estimates - There has been a downward revision of 0.2% in the consensus EPS estimate over the last 30 days, indicating analysts' reconsideration of their initial forecasts [1] - The average revenue estimate for 'Space and Airborne Systems' is projected at $1.74 billion, showing a 3.2% increase from the previous year [2] - 'Integrated Mission Systems' revenue is expected to reach $1.64 billion, indicating a 4.6% year-over-year change [2] - 'Communication Systems' revenue is anticipated to be $1.35 billion, reflecting a 7.8% increase compared to the prior-year quarter [2] Stock Performance - L3Harris shares have increased by 6.7% in the past month, outperforming the Zacks S&P 500 composite, which saw a 4.5% increase [2] - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to closely follow overall market performance in the near term [2]

Core Viewpoint - L3Harris Technologies, Inc. (LHX) is expected to report strong third-quarter 2024 results, driven by solid performance across its business segments despite high interest expenses [1][4]. Group 1: Revenue Expectations - The Integrated Mission Systems (IMS) segment is projected to see a revenue increase of 4.1% year-over-year, with estimated revenues of $1,632.4 million, supported by higher sales from the maritime business [2]. - The Space and Airborne Systems (SAS) unit is anticipated to report revenues of $1,739.5 million, reflecting a 3.2% improvement from the previous year, bolstered by strong sales in Space Systems and Intel & Cyber programs [3]. - The Communication Systems unit is expected to achieve revenues of $1,353.3 million, indicating a growth of 7.8% year-over-year, driven by increased sales in Tactical Communication and Broadband Communications [3]. Group 2: Overall Financial Performance - The consensus estimate for LHX's total third-quarter sales is $5.30 billion, representing a 7.9% increase from the prior-year quarter [4]. - The expected earnings per share for the third quarter is $3.26, which implies a 2.2% increase compared to the same quarter last year [4]. - Positive synergies from the acquisition of Aerojet Rocketdyne are likely to enhance LHX's third-quarter results, alongside improved operating margins due to operational efficiencies and cost reduction initiatives [4]. Group 3: Earnings Prediction - The Zacks model indicates a strong likelihood of an earnings beat for L3Harris, supported by an Earnings ESP of +1.19% and a Zacks Rank of 3 [5].

Wall Street expects a year-over-year increase in earnings on higher revenues when L3Harris (LHX) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 24. ...

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On October 2, 2024, Ross Niebergall, President of Aerojet Rocketdyne, a subsidiary of L3Harris Technologies Inc (LHX, Financial), sold 2,988 shares of the company. The transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 13,328.16 shares of L3Harris Technologies Inc. L3Harris Technologies Inc, headquartered in Melbourne, Florida, is a global aerospace and defense technology innovator, providing advanced defense and commercial technologies across air, land, sea, space, a ...