L3Harris (LHX) Q2 Earnings Surpass Estimates

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]