L3Harris Technologies Inc Stock Price, News & Analysis

L3Harris Technologies (NYSE: LHX) will announce its fourth quarter financial results for FY 2022 on January 26, 2023, at approximately 4:30 p.m. EST. The financial results will be detailed in an investor letter available on L3Harris.com. A conference call with company leadership is scheduled for January 27, 2023, at 8:30 a.m. EST, providing a platform for questions and answers.

Viasat has successfully completed the sale of its Link 16 Tactical Data Links business to L3Harris Technologies for approximately $1.96 billion in cash. The expected net proceeds for Viasat are around $1.8 billion after taxes and fees. This divestiture aligns with Viasat's strategy to focus on global satellite services and supports the reduction of net debt and interest expenses, progressing towards positive free cash flow. The Link 16 TDL business generated about $400 million in revenue and $125 million in Adjusted EBITDA for the year ending June 30, 2022.

L3Harris Technologies (NYSE: LHX) has completed the acquisition of Viasat Inc.'s (NASDAQ: VSAT) Tactical Data Links product line, known as Link 16, for $1.96 billion. This acquisition is expected to enhance L3Harris's capabilities in resilient communication and networking, broadening their user base across multiple domains. The deal, originally announced in October 2022, received all necessary regulatory approvals by December 2022.

L3Harris Technologies (NYSE: LHX) has appointed Samir Mehta as the new president of its Communication Systems segment, effective immediately. Mehta brings extensive aerospace and defense experience, previously serving as President at Collins Aerospace and holding key roles at Sikorsky Aircraft. He succeeds Dana Mehnert, who retires after 38 years. In his new role, Mehta will oversee business strategy and operational execution for a diverse portfolio, including tactical radios and night vision technology, aiming for growth and innovation within the defense sector.

L3Harris Technologies (NYSE: LHX) has announced the signing of a definitive agreement to divest its Visual Information Solutions business to NV5 Global Inc. (NASDAQ: NVEE) for an expected benefit of up to $100 million. This aligns with L3Harris's strategy for portfolio optimization aimed at enhancing innovation investments in national security. The transaction is anticipated to close by mid-2023, pending regulatory approvals. The company also recently acquired ViaSat's Tactical Data Link product line and Aerojet Rocketdyne, boosting its capabilities in multi-domain solutions.

L3Harris Technologies (NYSE:LHX) announced it has received all regulatory approvals for acquiring Viasat's Tactical Data Link product line, known as Link 16. The deal, initially expected to close in H1 2023, is now set to finalize by January 3, 2023. This acquisition involves nearly 450 employees and approximately $400 million in annual sales, enhancing L3Harris's capabilities in tactical data communication for defense applications. CEO Christopher Kubasik expressed enthusiasm about starting this modernization effort ahead of schedule.

L3Harris Technologies (NYSE: LHX) has announced a definitive agreement to acquire Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) for $58 per share, totaling approximately $4.7 billion including net debt. This acquisition aims to enhance L3Harris's defense capabilities and foster innovation in missile technologies and hypersonics. With Aerojet generating about $2.3 billion in annual revenue, the merger is expected to close in 2023, pending regulatory approvals. L3Harris intends to leverage synergies between the two firms to deliver superior solutions for the Department of Defense and strengthen the defense industrial base.

L3Harris Technologies (NYSE:LHX) announced the delivery of the first four out of more than 100 T7™ explosive ordnance disposal robots to the U.S. Air Force. This initial delivery is part of an $85 million, 10-year contract. The T7 robot enhances precision and speed for complex EOD missions, crucial for safeguarding Air Force operators. The USAF has ordered a total of 107 T7 robots, marking a significant upgrade from its outdated robotic fleet. The T7’s capabilities include improved lift, battery life, and human-like dexterity, reinforcing L3Harris' position as a leading supplier in defense technology.

Spirit Airlines (NYSE: SAVE) has partnered with L3Harris (NYSE: LHX) to launch the Spirit Wings Pilot Pathway in Central Florida. This program is designed to create a pipeline of skilled pilots, with training conducted at L3Harris’ Flight Academy. Graduates will have the chance to advance to a Spirit First Officer position after meeting specific flight hour requirements. The airline plans to expand rapidly, adding 33 new aircraft in 2023, increasing growth opportunities for pilots. Spirit has also been recognized for diversity and excellence in aviation safety.