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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 announced the schedule for its third quarter 2024 financial results release and earnings call. The company will release its Q3 2024 financial results on Thursday, October 24, 2024, after market close. This will be followed by an earnings call on Friday, October 25, 2024, at 8:30 a.m. ET. Investors and interested parties can participate in the call via webcast at L3Harris.com or by dialing 800-274-8461 (U.S.) or +1 203-518-9814 (international). A recording of the call will be made available on the company's website approximately at 12 p.m. ET on October 25, 2024.
L3Harris Technologies (NYSE:LHX) has achieved a significant milestone in spectrum dominance by initiating production of its Viper Shield™ all-digital electronic warfare (EW) suite for F-16 fighter jets. The advanced system will be provided to F-16 fleets in six countries. Viper Shield offers enhanced situational awareness and threat countering capabilities, with a flexible installation approach for various F-16 configurations. The system's small 3U form factor allows for integration within the aircraft or as an external pod. Designed for F-16 Block 70/72 aircraft, Viper Shield uses software-defined technology and is engineered for future upgrades to counter evolving threats. Production is taking place at L3Harris' site in Clifton, New Jersey.
L3Harris Technologies (NYSE:LHX) has secured a five-year contract worth up to $587.4 million from the US Navy to deliver custom tactical jamming pods for the Next Generation Jammer – Low Band (NGJ-LB) program. This advanced airborne electronic warfare system will modernize the Navy's Aerial Electronic Attack capability. L3Harris' solution offers:
1. Advanced processing with increased jamming capability
2. Easier maintenance through a modular, open-system architecture
3. Seamless upgrades and future technology integration
4. Compatibility with joint and allied forces
The company will provide eight operational prototype pods and additional test assets over the next five years. The NGJ-LB pods will be deployed on EA-18G Growler aircraft, replacing the aging AN/ALQ-99 Tactical Jamming System.
L3Harris Technologies (NYSE:LHX) has announced its participation in two upcoming investor conferences. Chair and CEO Christopher E. Kubasik and CFO Ken Bedingfield will present at the Jefferies 2024 Industrials Conference on September 5, 2024, at 8:40 a.m. ET in New York City. Additionally, Integrated Mission Systems President Jon Rambeau will join Bedingfield at the Morgan Stanley 12th Annual Laguna Conference on September 12, 2024, at 11:10 a.m. ET in Dana Point, California.
Both presentations will be streamed live on the L3Harris website, with recordings available after the events. These conferences provide opportunities for investors to gain insights into L3Harris's strategies and performance directly from top executives.
L3Harris Technologies (NYSE: LHX) has announced its 2030 sustainability goals, reinforcing its commitment to environmental stewardship. By 2030, L3Harris aims to achieve a 60% reduction in greenhouse gas emissions, a 20% reduction in water use, and a 10% reduction in solid waste. Additionally, the company plans to source 40% of its electricity from renewable sources.
Chair and CEO Christopher E. Kubasik stated that these goals support a sustainable future and improve business operations by reducing costs, promoting energy efficiency, enhancing business resilience, and fostering innovation. Previous sustainability goals were met three years early due to strategic investments. The new goals will measure progress against a 2021 baseline. The Board of Directors will oversee these efforts, ensuring continuous improvement through benchmarking, data capture, and compliance with industry standards and regulatory requirements.
Firefly Aerospace has announced a new multi-launch agreement with L3Harris Technologies (NYSE: LHX) for up to 20 launches on Firefly's Alpha rocket. This 5-year agreement, spanning from 2027 to 2031, includes two to four missions per year based on customer needs. It complements an existing agreement for three Alpha missions in 2026.
The Alpha rocket will launch L3Harris spacecraft into low-Earth orbit from Firefly's SLC-2 launch site at the Vandenberg Space Force Base. Alpha can support responsive space needs for both government and commercial customers, delivering satellites up to 1,030 kg directly to preferred orbits.
Firefly is accelerating vehicle production with a facility expansion in Briggs, Texas, featuring new automated technology that significantly reduces production time for Alpha's carbon composite structures.
L3Harris Technologies (NYSE:LHX) has reported significant progress one year after acquiring Aerojet Rocketdyne. The company has increased internal investments in Aerojet Rocketdyne by 40% year-over-year, focusing on expanding and modernizing manufacturing capabilities. L3Harris has also provided over $25 million in funding to sub-tier suppliers and qualified additional suppliers to strengthen the solid rocket motor subcomponent supply chain.
Performance improvements include record-setting months of deliveries for five programs and reducing late deliveries by nearly half. L3Harris propulsion systems have supported key missile defense tests and historic launches. The company has also been selected for hypersonics and critical defense programs like Next Generation Interceptor, while demonstrating advanced solid rocket motors and completing RS-25 rocket engine certification testing for NASA's Artemis campaign.
L3Harris Technologies (NYSE: LHX) reported strong Q2 2024 results and increased its 2024 guidance. Key highlights include:
- Revenue of $5.3 billion, up 13% year-over-year
- Orders of $5.2 billion with a book-to-bill ratio of 1.0x
- Operating margin of 9.0%; adjusted segment operating margin of 15.6%
- Diluted EPS of $1.92; non-GAAP EPS of $3.24, up 9% from Q2 2023
L3Harris raised its 2024 guidance:
- Revenue range increased to $21.0B - $21.3B
- Adjusted segment operating margin guidance increased to 15.2% - 15.4%
- Non-GAAP EPS guidance range raised to $12.85 - $13.15
The company's strong performance reflects its focus on operational excellence and execution, as well as progress towards its 2026 financial framework.
L3Harris Technologies (NYSE:LHX) has announced a quarterly cash dividend of $1.16 per common share. The dividend will be payable on September 20, 2024, to shareholders of record at the close of business on September 6, 2024. This announcement demonstrates L3Harris' commitment to returning value to its shareholders through regular dividend payments.
L3Harris Technologies (NYSE:LHX) has scheduled the release of its second quarter 2024 financial results for Thursday, July 25, 2024, after market close. The company will conduct an earnings call on Friday, July 26, 2024, at 8:30 a.m. ET. The call can be accessed via webcast on L3Harris.com. For telephonic participation, the U.S. dial-in number is 877-407-6184, and for international participants, the number is +1 201-389-0877. A recording of the call will be available on the company's website starting at 12 p.m. ET on July 26, 2024.
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