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L3HARRIS TECHNOLOGIES, INC.

(LHX)
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L3Harris Stronger Segment Growth Drives 2Q Rise in Profit

08/03/2021 | 04:59am EDT

By Adriano Marchese

L3Harris Technologies Inc. on Tuesday reported a rise in second-quarter profit, benefiting from stronger revenue growth across its four segments.

The defense contractor and information technology services provider said earnings per share were $2.01, up from $1.30 a year earlier.

Net income was $413 million, compared with $278 million, which the company said was driven primarily by higher volume, operational strength and integration benefits.

Adjusted earnings were $3.26 a share, beating analyst consensus expectations of $3.18 a share, polled on FactSet.

Sales rose to $4.67 billion from $4.45 billion, crediting growth across its key end-markets and in all four of the company's segments, it said.

L3Harris said revenue at the company's integrated mission systems and aviation systems segments rose 12% and 4.7%, respectively.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

08-03-21 0659ET

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Analyst Recommendations on L3HARRIS TECHNOLOGIES, INC.
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Financials (USD)
Sales 2021 18 483 M - -
Net income 2021 1 925 M - -
Net Debt 2021 5 841 M - -
P/E ratio 2021 23,2x
Yield 2021 1,83%
Capitalization 44 618 M 44 618 M -
EV / Sales 2021 2,73x
EV / Sales 2022 2,63x
Nbr of Employees 48 000
Free-Float 99,5%
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 222,04 $
Average target price 249,93 $
Spread / Average Target 12,6%
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Managers and Directors
Christopher Eugene Kubasik Vice Chairman, President, CEO & COO
Jesus Malave Chief Financial Officer & Senior Vice President
William M. Brown Executive Chairman
Ross Niebergall Chief Technology Officer & Vice President
Jacqueline Nevils Chief Information Officer & Vice President
Sector and Competitors