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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.
On December 7, 2021, J.F. Lehman & Company announced its acquisition of Narda-MITEQ from L3Harris Technologies (NYSE:LHX). Narda-MITEQ specializes in custom RF and microwave solutions for defense and commercial markets, boasting a legacy since 1953 and approximately 400 employees across three locations in the US and Europe. JFLCO's investment aims to leverage Narda-MITEQ's technical expertise and customer base for growth in both organic and acquisition strategies. The acquisition was financed by Barings Finance and Siemens Financial Services.
L3Harris Technologies (NYSE:LHX) has finalized the sale of its Narda-MITEQ business to an investment affiliate of J.F. Lehman & Company. Narda-MITEQ, previously part of L3Harris’ Aviation Systems segment, specializes in high-performance amplifiers and components for radiofrequency and microwave systems. This move aligns with L3Harris' strategy to streamline operations and focus on core areas while continuing to deliver advanced defense and commercial technologies globally, supported by approximately $18 billion in annual revenue.
L3Harris Technologies (NYSE:LHX) successfully completed the final design review for the Space Development Agency's missile-tracking program, continuing development on four satellites under a
L3Harris Technologies (NYSE:LHX) has finalized the sale of its ESSCO business to Communications & Power Industries (CPI). ESSCO was part of L3Harris' Aviation Systems segment, specializing in radomes for military and commercial applications. CPI is known for manufacturing electronic components focused on defense and communications. This divestiture aligns with L3Harris' strategy to streamline operations and enhance its offerings across aerospace and defense technologies, which generate approximately $18 billion in revenue.
The Canadian Armed Forces has placed an order for over 1,000 units of L3Harris Technologies' new Compact Team Radio (RF-9820S). This acquisition aims to enhance communications from tactical levels to command centers. The radio is lightweight, easy to use, and can operate for over 20 hours on a single battery. It integrates seamlessly with other L3Harris communication systems and supports various operational waveforms. This order reinforces L3Harris' position in the tactical communications market and expands Canada's inventory of reliable tactical radios.
L3Harris Technologies (NYSE:LHX) has secured a
L3Harris Technologies has partnered with Lightsource bp to launch a large-scale solar farm in Texas, which will help reduce carbon emissions by approximately 110,000 metric tons annually. The project, which created about 250 construction jobs, featured an apprenticeship program focused on training veterans for careers in solar construction. The solar power agreement covers 100 megawatts of capacity, aiding L3Harris in its goal to cut greenhouse gas emissions by 30% by 2026.
L3Harris Technologies (NYSE:LHX) announced that Jay Malave, Senior Vice President and CFO, will present at Baird’s 2021 Global Industrial Conference on November 10, 2021, at 9:40 a.m. ET. The presentation will be streamed live in a listen-only format on L3Harris.com, with a replay available for seven days post-event.
L3Harris is a global aerospace and defense technology innovator, generating approximately $18 billion in annual revenue and employing 47,000 people to serve customers in over 100 countries.
L3Harris Technologies (NYSE: LHX) reported third-quarter 2021 results with revenues of $4.2 billion, down 5% year-over-year, attributed to supply chain disruptions. Despite the revenue decline, net income increased 11% to $479 million, bolstering GAAP EPS to $2.39, a 20% rise. The company generated $484 million in operating cash flow and returned $1.5 billion to shareholders. Guidance for 2021 was adjusted, forecasting revenue around $17.9 billion, down from prior estimates due to ongoing global impacts and divestitures.
The Board of Directors of L3Harris Technologies (NYSE:LHX) has declared a quarterly cash dividend of $1.02 per share, payable on December 3, 2021, to shareholders of record as of the close of business on November 19, 2021. L3Harris is a leading global aerospace and defense technology innovator with approximately $18 billion in annual revenue and 48,000 employees. The company provides advanced technologies across various domains, including air, land, sea, space, and cyber, serving customers in over 100 countries.
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