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Mar 29, 2024
L3Harris Q1 2024 Earnings Report
L3Harris reported strong first quarter results and increased 2024 profitability guidance.
Key Takeaways
L3Harris Technologies reported a strong start to 2024 with solid revenue and higher operating margin across all four segments. First quarter revenue was $5.2 billion, up 17% from the previous year. The company increased its 2024 profitability guidance, while reaffirming revenue and free cash flow commitments.
Orders of $5.5 billion resulted in a book-to-bill of 1.06x.
Revenue reached $5.2 billion, reflecting a 17% increase, with 5% organic growth.
Operating margin was 7.3%, with an adjusted segment operating margin of 15.1%.
Earnings per share (EPS) were $1.48; Non-GAAP EPS was $3.06.
Revenue by Segment
Forward Guidance
L3Harris increased 2024 profitability guidance and reaffirmed revenue and free cash flow commitments.
Positive Outlook
- 2024 adjusted segment operating margin guidance increases from ~15% to >15%.
- 2024 non-GAAP EPS guidance range increases from $12.40 - $12.80 to $12.70 - $13.05.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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