L3Harris(US:LHX)2025-10-30 16:18Financial Performance - For the third quarter of 2025, total revenue was $5,659 million, an increase from $5,292 million in the same period of 2024, representing a growth of 6.9%[96] - The company reported a net income of $20 million for the third quarter of 2025, compared to a net loss of $11 million in the same period of 2024[84] - Operating income for the third quarter of 2025 was $621 million, up from $495 million in the third quarter of 2024, reflecting a year-over-year increase of 25.5%[96] - The diluted EPS for the third quarter of 2025 was $0.10, compared to a diluted loss per share of $0.06 in the same quarter of 2024[84] - Year-to-date revenue for 2025 reached $4,190 million, a decrease from $4,914 million in the same period of 2024, representing a decline of 14.7%[105] Revenue Breakdown - Total revenue for the third quarter of 2025 was $1,462 million, a decrease from $1,700 million in the same quarter of 2024, representing a decline of 14%[105] - Revenue from prime contractors in Q3 2025 was $1,127 million, down from $1,220 million in Q3 2024, a decrease of 7.6%[105] - Revenue from subcontractors in Q3 2025 was $317 million, compared to $459 million in Q3 2024, reflecting a decline of 30.9%[105] - Revenue from fixed-price contracts for the year-to-date 2025 was $3,550 million, compared to $3,695 million in 2024, a decrease of 3.9%[105] - Revenue from the United States in Q3 2025 was $948 million, down from $1,290 million in Q3 2024, a decrease of 26.5%[105] Backlog and Future Expectations - The contractual backlog as of October 3, 2025, was $36.3 billion, with an expectation to recognize approximately 45% as revenue over the next twelve months[86] - The company expects to recognize 65% of its contractual backlog as revenue over the next twenty-four months[86] - The LHX NeXt initiative is expected to continue into 2026, focusing on transforming functions and systems to enhance competitiveness[100] Capital Expenditures and Assets - Capital expenditures for the third quarter of 2025 totaled $119 million, compared to $78 million in the same quarter of 2024, indicating a 52.6% increase[101] - Total assets as of October 3, 2025, were $41,014 million, a decrease from $42,001 million as of January 3, 2025[102] Environmental and Legal Matters - Environmental liability estimated at $667 million as of October 3, 2025, an increase from $637 million as of January 3, 2025[109] - Recoverable environmental costs from the U.S. Government estimated at $490 million as of October 3, 2025, up from $462 million as of January 3, 2025[110] - The company is involved in various legal proceedings, but as of October 3, 2025, the accrual for potential unfavorable resolutions was not material[107] Market Risk - There were no material changes in market risk exposure during the year to date 2025 compared to the previous fiscal year[200]