L3Harris Technologies, Inc. - LHX STOCK NEWS

The Board of Directors of L3Harris Technologies (NYSE:LHX) has approved a 10% increase in its quarterly cash dividend, raising it from $1.02 to $1.12. This change will commence with the dividend for the first quarter of 2022, payable on March 25, 2022, to shareholders of record by the close of business on March 11, 2022. The annualized dividend rate rises from $4.08 to $4.48, marking the third consecutive double-digit increase since the merger in 2019.

L3Harris Technologies (NYSE:LHX) is launching its third high-resolution weather instrument, the Advanced Baseline Imager (ABI), on March 1, enhancing NOAA's environmental monitoring. The ABI offers 3X spectral coverage, 4X resolution, and operates 5X faster than prior models. This technology significantly improves severe weather detection and climate monitoring. Additionally, the ABI aids in forecasting extreme events like tornadoes and wildfires. The company also delivered its fourth imager to NASA, with the GOES-U satellite set to launch in 2024, completing NOAA's GOES-R series.

L3Harris Technologies has integrated its fourth Advanced Baseline Imager (ABI) into NOAA’s Geostationary Operational Environmental Satellite-U (GOES-U), set to launch in 2024. This integration completes an advanced weather sensor series, enhancing weather observation capabilities significantly. The ABI features resolution four times greater and speed five times faster than previous satellites, delivering high-resolution video across 16 spectral bands. This technology aims to improve weather forecasts, climate change measurements, and emergency notifications for natural disasters.

L3Harris Technologies (NYSE:LHX) will present at the Barclays Industrial Select Conference on February 23, 2022. The event starts at 8:00 a.m. ET, and the remarks will be available in a listen-only stream on L3Harris.com. A replay will be accessible for seven days post-event. L3Harris is a global leader in aerospace and defense technology, generating approximately $17 billion in annual revenue with a workforce of about 47,000 employees across multiple domains.

L3Harris Technologies has been selected by the U.S. Space Force to enhance its space domain awareness and counter anti-satellite threats. The project includes upgrading the Space Defense Operations Center to the new Advanced Tracking and Launch Analysis System (ATLAS). This modernization will improve tracking and analysis of space objects amid rising anti-satellite threats. L3Harris has over 30 years of partnership with the Space Force, contributing to space superiority with approximately $17 billion in annual revenue.

L3Harris Technologies (LHX) reported Q4 2021 revenue of $4.35 billion, a 7% decline from the previous year, with full-year revenue down 2% at $17.81 billion. Net income for Q4 surged 163% to $484 million, while full-year net income rose 70% to $1.84 billion. GAAP EPS for Q4 was $2.46, up 167%, and $9.09 for the year, up 75%. Non-GAAP EPS also increased to $3.30 for Q4 and $12.95 for the year. Despite supply chain challenges, the company has initiated guidance for 2022, forecasting revenue between $17.3 billion and $17.7 billion, with organic growth of 1-3%.

L3Harris Technologies has secured a 10-year, $750 million contract from the U.S. Marine Corps for multi-channel handheld and vehicular radio systems. The Falcon IV radios will enhance interoperability across U.S. defense branches and allies, contributing to Force Design 2030 and Joint All-Domain Command and Control (JADC2). These innovative radios provide secure communications against adversary threats, with flexible architecture for evolving needs. This continues L3Harris's successful collaboration with the Marines in delivering essential communication solutions.

L3Harris Technologies (NYSE:LHX) announces the appointment of Michelle Turner as the new Senior Vice President and Chief Financial Officer (CFO), effective immediately. Turner succeeds Jay Malave, who is leaving for other career opportunities. With extensive experience in finance, particularly in the defense industry, Turner previously held roles at Johnson & Johnson and Raytheon. As CFO, she will oversee financial strategies, accounting, internal audits, and investor relations, aiming to drive growth.

L3Harris Technologies (NYSE:LHX) will host a conference call on January 31, 2022, at 8:30 a.m. ET to discuss its fourth quarter 2021 financial results. Interested participants can dial in at 877-407-6184 for U.S. and 201-389-0877 for international callers. A webcast with supporting slides will also be available on L3Harris.com. A recording will be accessible from 12 p.m. ET on the same day.