Core Insights - L3Harris reported revenue of $5.3 billion for the quarter ended June 2024, reflecting a year-over-year increase of 12.9% and an EPS of $3.24 compared to $2.97 a year ago [4] Revenue Performance - Corporate eliminations revenue was -$64 million, compared to an estimated -$49.64 million, marking a +39.1% change year-over-year [3] - Revenue from Space and Airborne Systems was $1.71 billion, slightly below the estimated $1.74 billion, with a year-over-year change of -0.5% [3] - Aerojet Rocketdyne revenue was $581 million, compared to an estimate of $595.08 million [3] - Integrated Mission Systems revenue was $1.73 billion, exceeding the estimated $1.66 billion, with a year-over-year change of -0.4% [3] - Communication Systems revenue was $1.35 billion, slightly above the estimated $1.34 billion, reflecting a +4.4% change year-over-year [3] Segment Operating Income - Aerojet Rocketdyne segment operating income was $75 million, surpassing the estimated $70.27 million [3] - Communication Systems segment operating income was $329 million, compared to an estimate of $321.88 million [3] - Space and Airborne Systems segment operating income was $215 million, exceeding the estimated $210.59 million [3] - Integrated Mission Systems segment operating income was $206 million, above the estimated $186.93 million [3] Stock Performance - L3Harris shares have returned +6.1% over the past month, outperforming the Zacks S&P 500 composite, which saw a -0.3% change [6] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [6]

Core Insights - L3Harris has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong earnings performance [1] - The recent quarterly report showed an earnings surprise of 1.89%, with actual earnings of $3.24 per share compared to the Zacks Consensus Estimate of $3.18 [2][8] - The company reported revenues of $5.3 billion for the quarter ended June 2024, slightly missing the consensus estimate by 0.09%, but showing a year-over-year increase from $4.69 billion [9] Earnings and Revenue Performance - L3Harris achieved earnings of $3.24 per share, up from $2.97 per share a year ago, reflecting a positive year-over-year growth [8] - The current consensus EPS estimate for the upcoming quarter is $3.27, with projected revenues of $5.28 billion, while the estimate for the current fiscal year is $12.99 on $21.25 billion in revenues [5] - The company has topped consensus revenue estimates three times in the last four quarters, showcasing a trend of strong revenue performance [9] Market Position and Outlook - L3Harris shares have increased by approximately 12.6% since the beginning of the year, slightly underperforming compared to the S&P 500's gain of 13.8% [10] - The Zacks Rank for L3Harris is currently 2 (Buy), indicating expectations for the stock to outperform the market in the near future [12] - The Aerospace - Defense industry, to which L3Harris belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a favorable industry outlook [13]

Non-GAAP Financial Measures Investor Relations Contact: Daniel Gittsovich, 321-724-3170 investorrelations@l3harris.com 1 2 PAGE 11 Table 5 - Operating Income and Margin and Adjusted Segment Operating Income and Margin (Unaudited) 1 2 PAGE 12 Table 6 - Effective Tax Rate on Non-GAAP Income Quarter Ended June 28, 2024 June 30, 2023 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------- ...

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 3.55%, on average, in the last two quarters. For the last re ...

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Launches Fisica, Kanders' New Defense Technology Platform PALM BEACH, Fla., June 3, 2024 /PRNewswire/ -- Kanders & Company, Inc. ("Kanders"), a U.S.-based single-family office, announced today the completion of its previously announced acquisition of certain antenna and test equipment businesses from L3Harris Technologies (NYSE: LHX) for $200 million. The acquired ATI, Datron and Randtron businesses will operate under Fisica, Inc. ("Fisica"), Kanders' defense technology platform, and manufacture airborne an ...

Investors interested in stocks from the Aerospace - Defense sector have probably already heard of L3Harris (LHX) and Northrop Grumman (NOC) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy th ...

For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Is L3Harris (LHX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out. L3Harris is one of 45 individual stocks in the Aerospace sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks withi ...

or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ______________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2024 | Securities registered pursuant to Section 12(b) of the Act: | | | | --- | --- | --- | | Title of each class | Trading Symb ...

L3Harris Technologies, Inc. (LHX) reported first-quarter 2024 adjusted earnings (from continuing operations) of $3.06 per share, which beat the Zacks Consensus Estimate of $2.89 by 5.9%. The bottom line also increased 7% from the year-ago quarter’s reported figure of $2.86.Excluding one-time items, the company reported GAAP earnings of $1.48 per share, down from $1.76 generated in the prior-year period.Total RevenuesL3Harris’ first-quarter revenues totaled $5.21 billion, which beat the Zacks Consensus Estim ...