L3Harris Technologies announced its second quarter 2025 financial results, reporting revenue of $5.4 billion, a 2% increase year-over-year, with a notable organic growth of 6%. The company achieved diluted earnings per share (EPS) of $2.44, which represents a 27% increase compared to the previous year. The results were driven by strong demand across various segments, leading to a record book-to-bill ratio of 1.5x and an operating margin of 10.5%. Adjusted segment operating margin rose to 15.9%, reflecting effective cost management and operational efficiencies.
In addition to the strong quarterly performance, L3Harris has updated its financial guidance for 2025, reflecting increased expectations based on the positive results. The company indicated that demand in the defense sector is accelerating, aligning with their strategic focus areas. Cash flow from operations decreased by 15% to $640 million, primarily due to timing issues and legal settlements, while adjusted free cash flow also saw a decline of 20%. Overall, the financial performance highlights a solid position for L3Harris in the current market environment.
linkJul 24, 2025 06:55:38
On July 17, 2025, L3Harris Technologies' Board of Directors approved an increase in the annual equity retainer for non-employee directors from $190,000 to $200,000 in director share units. This change will take effect on January 3, 2026, following the recommendation of the Nominating and Governance Committee.
Details regarding the annual compensation for L3Harris’ non-employee directors, effective January 3, 2026, have been included as an exhibit in the current report. This adjustment in compensation may have implications for investor considerations regarding the company's governance and director incentives.
linkJul 18, 2025 16:35:09
L3Harris Technologies announced its first quarter 2025 results, reporting revenue of $5.1 billion and diluted earnings per share (EPS) of $2.04. The company also reported a non-GAAP diluted EPS of $2.41, marking a 7% increase compared to the previous year. The operating margin improved to 10.2%, and the adjusted segment operating margin rose to 15.6%. The company returned nearly $800 million to shareholders through dividends and share repurchases, including a 24th consecutive annual dividend increase.
The company updated its 2025 guidance following a divestiture and a solid first quarter performance. The divestiture of the Commercial Aviation Solutions business will reduce expected revenue for the Integrated Mission Systems segment by approximately $525 million for the year. Adjusted segment operating margin guidance for Communication Systems was raised to around 25%, while Integrated Mission Systems revenue expectations were lowered to approximately $6.3 billion. The updated non-GAAP diluted EPS guidance is now projected to be between $10.30 and $10.50, reflecting a 7% growth.
linkApr 24, 2025 06:55:27
L3Harris Technologies has established a new $2.5 billion revolving credit facility, replacing its previous $2 billion facility. This new agreement allows for borrowing and re-borrowing under certain conditions and includes provisions for subsidiary borrowers. The company also created a new $500 million 364-day credit facility, which replaces a prior $1.5 billion facility. Both new agreements include interest rates that may vary based on the company's debt ratings, and there are no early termination penalties associated with the changes.
On the negative side, the new revolving credit facility has a lower initial borrowing capacity compared to its predecessor, which may limit financial flexibility. Additionally, while L3Harris incurred no penalties for terminating the previous agreements, the reduced amounts in both new facilities could indicate a more conservative approach to borrowing amid changing financial conditions. The terms of the agreements also include various fees that could impact overall costs.
linkFeb 21, 2025 16:34:26
L3Harris Technologies achieved notable financial results in 2024, reporting revenue of $21.3 billion, a 10% increase from the previous year. The company also recorded $24.2 billion in orders, resulting in a book-to-bill ratio of 1.14x. Cash from operations rose to $2.6 billion, and adjusted free cash flow reached $2.3 billion. The fourth quarter saw revenue of $5.5 billion, up 3%, with a diluted earnings per share (EPS) of $2.37, reflecting growth and operational efficiencies driving margin improvements.
However, some segments faced challenges, particularly the Space & Airborne Systems division, which reported a 4% decline in fourth quarter revenue due to the divestiture of its antenna business and lower F-35 related volume. Additionally, the Communication Systems segment experienced a decrease in operating margin, attributed to a higher mix of domestic radios and a non-cash impairment related to the Tactical Data Links acquisition. Overall, while the company showed growth, certain operational setbacks and market conditions impacted specific segments.
linkJan 30, 2025 07:00:30
L3Harris Technologies announced impressive third-quarter results for 2024, with revenue rising by 8% to $5.3 billion and a diluted earnings per share (EPS) of $2.10, marking a 4% increase from the previous year. The company also reported a strong order intake of $7.2 billion, leading to a book-to-bill ratio of 1.4, which indicates solid demand for their services. Additionally, L3Harris raised its 2024 revenue guidance to between $21.1 billion and $21.3 billion, reflecting confidence in their ongoing strategies and initiatives, particularly the LHX NeXt cost savings program, which is expected to exceed its original targets significantly.
However, there were some challenges in the results, including a slight decrease in operating margin to 9.4%, attributed to increased unallocated items and higher interest expenses. The company faced obstacles in certain classified development programs, which impacted growth in some segments. Despite these issues, the overall performance and positive outlook on revenue and cost savings suggest that L3Harris is on a promising path, bolstered by robust demand in their core areas of business.
linkOct 24, 2024 16:05:23
L3Harris Technologies has announced the appointment of David S. Regnery, the Chair and Chief Executive Officer of Trane Technologies, to its Board of Directors. This move is seen as a positive step for L3Harris, as Regnery brings significant leadership experience and a proven track record in business transformation and innovation. His expertise is expected to support L3Harris in addressing critical customer needs and enhancing its position as a leader in the defense industry.
Regnery's appointment marks an important addition, as he is the third independent director to join the board following a cooperation agreement with the D.E. Shaw group. His background in overseeing large organizations and strategic operations aligns well with L3Harris' goals. However, the press release does not mention any immediate challenges or concerns related to this new appointment, focusing instead on the potential benefits of his leadership experience.
linkOct 15, 2024 18:53:29
L3Harris Technologies announced strong second quarter results, with revenue up 13% to $5.3 billion and a 9% increase in non-GAAP earnings per share. The company raised its 2024 revenue and earnings guidance, reflecting operational improvements and efficiency initiatives. However, cash from operations decreased by 15%. Overall, the results showcase the company's commitment to growth and value for shareholders.
linkJul 25, 2024 16:05:52
L3Harris Technologies announced a strong first quarter in 2024 with $5.2 billion in revenue, a 17% increase. Operating margin was 7.3%, and EPS was $1.48. The company reported a book-to-bill ratio of 1.06x and increased their 2024 adjusted segment operating margin guidance to over 15%. Non-GAAP EPS was $3.06, reflecting a positive trend. CEO Kubasik highlighted growth in revenue and operational improvements, leading to increased profitability guidance for 2024.
linkApr 25, 2024 16:07:19
L3Harris Technologies reported a 14% increase in full-year 2023 revenue, reaching $19.4 billion, and a record backlog of $33 billion. The company's CEO expressed confidence in achieving the 2024 financial framework and emphasized a focus on cost-saving initiatives for operational improvements and free cash flow growth. However, the fourth quarter operating income decreased by 69%, primarily due to goodwill impairment for a pending business sale.
linkJan 25, 2024 16:05:30