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L3Harris Technologies, Inc. (NYSE: LHX) is a dynamic global aerospace and defense technology innovator, providing advanced solutions to meet mission-critical needs across multiple domains including space, air, land, sea, and cyber. With an annual revenue of approximately $18 billion and a workforce of 47,000 employees, L3Harris serves customers in over 100 countries.
The company specializes in C4ISR systems, which encompass command, control, communications, computers, intelligence, surveillance, and reconnaissance. L3Harris also produces uncrewed aerial vehicles, sophisticated sensors, and avionics systems, and offers military and commercial training services. Notably, it maintains the U.S. Federal Aviation Administration's communications infrastructure, ensuring seamless operations and safety.
In July 2023, L3Harris acquired Aerojet Rocketdyne, a prominent supplier of rocket motors, bolstering its capabilities in the space and defense industry. This acquisition marks a significant step in expanding the company’s portfolio and enhancing its role in critical aerospace systems.
Recent developments include the creation of the Fisica platform through the sale of certain antenna and test equipment businesses to Kanders & Company for $200 million. This strategic move is expected to foster growth and innovation in the defense sector.
Additionally, L3Harris has entered into a five-year contract with Iridium Communications for the Iridium® Satellite Time and Location (STL) service. This partnership ensures robust timing synchronization for L3Harris’s nationwide communication networks, crucial for supporting the National Airspace System operations.
L3Harris is committed to delivering cutting-edge technologies and services that address the evolving demands of defense and commercial markets. With a solid financial foundation and strategic partnerships, the company is well-positioned for future growth and success.
L3Harris Technologies (NYSE: LHX) has initiated construction of four new solid rocket motor production facilities in Camden, Arkansas, marking a significant expansion of its manufacturing capabilities. The project is part of a $215.6 million cooperative agreement with the Defense Department's Defense Production Act Title III program to enhance domestic rocket propulsion manufacturing capacity.
The expansion includes a 60,000-square-foot state-of-the-art facility that will centralize production, reducing motor manufacturing travel distance by 80%. Additional construction includes a dedicated mixer building and propellant processing buildings. The company is also modernizing facilities in Orange County, Virginia, and transitioning production of inert components to Huntsville, Alabama.
This strategic investment aims to address growing demand for tactical and strategic missile capabilities, supporting national defense and deterrence efforts. The expansion is expected to boost Arkansas's aerospace industry, which is currently the state's largest export sector.
L3Harris Technologies (NYSE: LHX) has announced its participation in the Barclays 42nd Annual Industrial Conference in Miami. Chair and CEO Christopher E. Kubasik and CFO Ken Bedingfield, who also serves as Aerojet Rocketdyne President, will deliver a presentation at 8:05 a.m. ET on Thursday, February 20.
The company will provide public access to the presentation through a livestream on the L3Harris website. For those unable to attend or watch live, a recording of the presentation will be made available after the event.
L3Harris Technologies (NYSE: LHX) has unveiled AMORPHOUS, a groundbreaking software platform designed to control thousands of autonomous assets through a single user interface. The system, which stands for Autonomous Multi-domain Operations Resiliency Platform for Heterogeneous Unmanned Swarms, features an open architecture enabling control of various uncrewed platforms, payloads, and systems from different manufacturers.
The software provides an intuitive and distributed command-and-control interface for complex military operations. Currently under development with prototypes for the U.S. Army and Defense Innovation Unit, AMORPHOUS has demonstrated its capability to control multiple assets across different vehicle types and domains during government-managed tests. A key feature is its support for decentralized decision-making, allowing individual uncrewed assets to perform autonomous tasks and make real-time tactical decisions within the network.
L3Harris Technologies (NYSE: LHX) has achieved a significant milestone with the successful first flight of its Viper Shield™ electronic warfare (EW) system in a single-seat Block 70 F-16 at Edwards Air Force Base. The flight, conducted by the 412th Test Wing, included risk reduction tests for mission computer compatibility and interoperability with the APG-83 AESA radar.
Viper Shield, designed for six international partners' F-16 fighter fleets, offers advanced EW capabilities through a low-risk, low-cost system that counters modern radar threats with immediate detection and jamming responses. The system is notable for its ability to integrate across all F-16 Blocks with minimal modifications and compatibility with both current and next-generation Mission Computers.
The company plans to deliver systems in late 2025, marking Viper Shield as the only advanced EW solution currently funded and in active production for international F-16 partners.
L3Harris Technologies (LHX) reported strong Q4 and full-year 2024 results, with annual revenue reaching $21.3 billion, up 10% year-over-year and 4% organically. The company achieved $24.2 billion in orders with a book-to-bill ratio of 1.14x and a record backlog of $34 billion.
Q4 2024 highlights include revenue of $5.5 billion (up 3%), operating margin of 10.3%, and diluted EPS of $2.37. The company exceeded its cost-savings target for 2024, achieving $800 million through the LHX NeXt initiative, and raised its overall cost-savings goal to $1.2 billion by the end of 2025.
For 2025 guidance, L3Harris projects revenue between $21.8-22.2 billion, with adjusted segment operating margin in the mid to high 15% range. The company expects Non-GAAP diluted EPS of $10.55-10.85 and adjusted free cash flow of $2.4-2.5 billion.
L3Harris Technologies (NYSE:LHX) has secured new U.S. Army orders worth nearly $300 million for full-rate Manpack and Leader radio production under the Handheld, Manpack & Small Form Fit (HMS) program. The contract focuses on delivering resilient communication solutions that provide interoperability from tactical edge to aerial tier, maintaining effectiveness despite electronic warfare attacks.
The company's AN/PRC-158 and AN/PRC-163 radios feature modern cryptographic compliance, enabling switching between different encryption levels for coalition partner interoperability. This follows 2023 production orders exceeding $247 million under the same IDIQs. Additionally, the Army selected L3Harris to provide MUOS-capable AN/PRC-158s for MQ-1C Gray Eagle unmanned aircraft systems and CH-47 Chinook helicopters as part of the Air-to-Ground Networking Radio program.
L3Harris Technologies (NYSE: LHX) has secured a $263 million order from the U.S. Army for continued production of the Enhanced Night Vision Goggle – Binocular (ENVG-B). This represents the second order under the full-scale production Indefinite Delivery, Indefinite Quantity program, following a similar award earlier this year.
The company has already delivered over 18,000 ENVG-B systems to the Army, featuring industry-leading Figure of Merit levels and digital overlays for enhanced performance. Additionally, L3Harris has supplied more than 28,000 advanced vision goggles to warfighters worldwide, including their Binocular Night Vision Device – Fused solution.
L3Harris plans to continue enhancing ENVG-B technology through investments in night-vision technology, artificial intelligence, and open-system architecture development to expand the device's capabilities for future Army deployments.
L3Harris Technologies (NYSE: LHX) has announced key leadership changes effective February 3, 2025. Ken Bedingfield, 52, will serve as President of Aerojet Rocketdyne while maintaining his role as Chief Financial Officer, succeeding Ross Niebergall who will retire after supporting the transition.
Sam Mehta, 52, will expand his role to lead enterprise Strategic Collaboration Agreements while continuing to head the Communication Systems segment, focusing on developing strategic relationships for next-generation capabilities. Additionally, Heidi Wood, 59, who leads the company's transformation initiative LHX NeXt, will now report directly to Chair and CEO Chris Kubasik, with an expanded focus on cost savings and enterprise transformation.
L3Harris Technologies (NYSE: LHX) CEO Christopher E. Kubasik has issued an open letter to Department of Government Efficiency (DOGE) leaders Elon Musk and Vivek Ramaswamy, outlining recommendations to modernize America's national defense ecosystem. As the newly elected Chair of the Aerospace Industries Association, Kubasik proposed four key changes:
- Eliminating duplicative Cost Accounting Standard requirements
- Establishing a central contracting arm within the Office of the Secretary of Defense
- Requiring certified cost and pricing data only for major sole-source acquisitions
- Limiting contractor protests to three times per year
These recommendations aim to enhance the U.S. government's ability to secure borders and protect American interests globally.
L3Harris Technologies (NYSE: LHX) has announced its schedule for fourth quarter 2024 financial results release. The company will release its Q4 2024 results before market opens on Thursday, January 30, 2025. Following the release, L3Harris will host an earnings conference call at 10:30 a.m. ET on the same day.
Investors and interested parties can participate through the company's webcast at L3Harris.com or join via phone by dialing 800-549-8228 (U.S.) or +1 289-819-1520 (international). A recording of the call will be made available on the company's website starting at approximately 12 p.m. ET on January 30, 2025.
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