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Jun 28, 2024
L3Harris Q2 2024 Earnings Report
L3Harris reported strong second quarter results, increased 2024 guidance, and demonstrated improved margins through operational excellence.
Key Takeaways
L3Harris Technologies reported a 13% increase in revenue to $5.3 billion, driven by the acquisition of Aerojet Rocketdyne and organic growth in Communication Systems and Space & Airborne Systems. Diluted EPS was $1.92, and non-GAAP EPS was $3.24, a 9% increase year-over-year. The company raised its full-year revenue, margin, and EPS guidance, reflecting the positive impact of the LHX NeXt initiative.
Orders totaled $5.2 billion, resulting in a book-to-bill ratio of 1.0x.
Revenue increased by 13% to $5.3 billion.
Operating margin was 9.0%, with an adjusted segment operating margin of 15.6%.
Diluted EPS was $1.92, and non-GAAP EPS was $3.24, a 9% increase year-over-year.
L3Harris
L3Harris
L3Harris Revenue by Segment
Revenue by Segment
Communication Systems Revenue
CapyFin.comIntegrated Mission Systems Revenue
CapyFin.comSpace & Airborne Systems Revenue
CapyFin.comAerojet Rocketdyne Revenue
CapyFin.com Forward Guidance
L3Harris increased its 2024 guidance for revenue, adjusted segment operating margin, and non-GAAP EPS.
Positive Outlook
- 2024 revenue guidance range increases from $20.8B - $21.3B to $21.0B - $21.3B
- 2024 adjusted segment operating margin guidance increases from >15% to 15.2% - 15.4%
- 2024 Non-GAAP EPS guidance range increases from $12.70 - $13.05 to $12.85 - $13.15
- SAS 2024 Guidance Operating margin low 12%
- IMS 2024 Guidance Revenue $6,500 - $6,700
Revenue & Expenses
Visualization of income flow from segment revenue to net income