LHX Stock Recent News

L3Harris' (LHX) fourth-quarter revenues of $5,340 million beats the Zacks Consensus Estimate by 0.9%. The figure also rises 17% from the year-ago quarter's level.

While the top- and bottom-line numbers for L3Harris (LHX) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

L3Harris (LHX) came out with quarterly earnings of $3.35 per share, beating the Zacks Consensus Estimate of $3.31 per share. This compares to earnings of $3.27 per share a year ago.

L3Harris beat estimates for fourth-quarter profit on Thursday, benefiting from higher weapons demand and increased global defense spending amid escalating security concerns.

L3Harris' (LHX) Q4 results are likely to reflect solid sales volume growth in the majority of its segments. However, increased interest expenses might have negatively impacted its earnings.

RTX's Q4 results are likely to reflect the benefits of growing commercial air traffic. However, lower pension income, higher effective tax rate and interest expense might have hurt its earnings performance.

The Space Force unit on Tuesday announced about $2.5 billion in satellite contracts would go to L3Harris, Lockheed Martin, and Sierra Space.

On December 12, L3Harris held its much anticipated Investor Day, presenting guidance for its mid-term strategy following the post-merger portfolio realignment. Across all segments, operating margins are projected to improve by >110bps through 2026, resulting from higher bidding scrutiny and LHX NeXt which saw its anticipated savings guidance raised to $1bn. Further insight was offered on capital allocation with management committing >$3.7bn to share buybacks from 2024-2026 at 100% cash return post delevering, alleviating investor concerns post 2023 debt raises.

Since emerging from the merger between L3 Technologies and Harris Corporation in 2019, L3Harris has been an exceptional dividend grower. The defense contractor and aerospace multinational's revenue and backlog soared in the third quarter. L3Harris is making progress on deleveraging to strengthen its balance sheet.

L3Harris Technologies is poised to benefit from rising global defense spending and geopolitical tensions. The company's Space and Airborne Systems segment is experiencing strong growth. L3Harris is actively reducing debt, targeting organic growth and free cash flow, and is undervalued compared to its peers.