Welcome to our dedicated page for L3Harris Technologies news (Ticker: LHX), a resource for investors and traders seeking the latest updates and insights on L3Harris Technologies stock.
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 secured a 5-year, $96 million contract from the U.S. Special Operations Command for WESCAM MX™ sensor systems. This contract aims to enhance the U.S. Army Special Operations Aviation Command's sensor capabilities. The WESCAM MX-10D and MX-15D systems will provide advanced multi-spectral imaging for various aircraft. This win is notable as it follows a previous $454 million contract with the U.S. Army for the Tactical Unmanned Air Systems Shadow UAV program, solidifying L3Harris' position in military aviation technology.
L3Harris Technologies (NYSE:LHX) has received a $393 million contract from the U.S. Navy to implement Increments II and III of the Undersea Warfare Training Range (USWTR). This contract follows nearly a decade of work on Increment I, which involved the installation of systems in a 500-square-nautical-mile area near Jacksonville, Florida. The new increments will enhance sites in Hawaii, the Bahamas, and Southern California, enabling naval forces to improve anti-submarine warfare training through advanced undersea technologies.
L3Harris Technologies (NYSE: LHX) reported Q2 2021 revenue of $4.7 billion, a 5% increase year-over-year, with GAAP net income surging 49% to $413 million. Adjusted EBIT rose 7.3% to $869 million, and adjusted EBIT margin improved by 40 bps to 18.6%. GAAP EPS reached $2.01, up 55%, and non-GAAP EPS was $3.26, a 15% rise. The company highlights its merger's value creation, raising guidance for 2021. Segments showed organic revenue growth of 12% in Integrated Mission Systems and 4.7% in Aviation Systems, with a positive outlook for long-term value creation.
The Board of Directors of L3Harris Technologies (NYSE:LHX) has announced a quarterly cash dividend of $1.02 per share for common stock. This dividend is payable on September 17, 2021, to shareholders recorded as of the close of business on September 3, 2021. L3Harris is a leading aerospace and defense technology innovator, generating approximately $18 billion in annual revenue and employing around 48,000 people globally, serving customers in over 100 countries.
L3Harris Technologies (NYSE:LHX) announced that Vice Chair and CEO Chris Kubasik, along with Senior Vice President and CFO Jay Malave, will present at the Jefferies Virtual Industrials Conference on August 3, 2021, at 3:00 p.m. ET. Their remarks will be available via a listen-only stream on L3Harris.com. A replay will be accessible for seven days after the event. L3Harris is a global leader in aerospace and defense technology with annual revenues of approximately $18 billion and a workforce of 48,000 employees.
L3Harris Technologies (NYSE:LHX) will host a conference call on August 3, 2021, at 8:30 a.m. ET to discuss its second quarter 2021 financial results. Participants can connect via U.S. dial-in (877-407-6184) or International dial-in (201-389-0877). Listeners are encouraged to join the webcast and view the management's slide presentation on L3Harris.com. A recording will be available post-call at around 12 p.m. ET on August 3.
L3Harris Technologies (NYSE:LHX) has completed divestitures of its Military Training business for $1.05 billion to CAE and its Combat Propulsion Systems for $400 million to RENK AG, totaling $1.45 billion. The Military Training unit generates about $525 million annually, while the Combat Propulsion unit reports around $230 million. Proceeds are intended for share repurchases. L3Harris remains a significant player in aerospace and defense with approximately $18 billion in annual revenue.
L3Harris Technologies (NYSE: LHX) welcomes new CEO Christopher E. Kubasik, who aims to enhance global partnerships and expand the company's technological capabilities. With a workforce of 48,000 and operations in over 100 countries, L3Harris generates around 20% of its revenue internationally. Kubasik emphasizes the company's commitment to developing end-to-end solutions across various domains, including air, land, sea, space, and cyber. L3Harris is leveraging significant R&D investments to create exportable technologies, addressing diverse security and economic needs worldwide.
Christopher E. Kubasik has officially succeeded William M. Brown as CEO of L3Harris Technologies (NYSE: LHX), marking a significant leadership transition. This change, reaffirmed by the Board of Directors, follows the planned succession announced during the merger in 2018. Brown becomes Executive Chair, continuing his role after leading the company through its merger into a leading defense technology entity. Kubasik, who has over 30 years of aerospace and defense experience, emphasized the company’s commitment to innovation and customer needs amidst evolving market challenges.
L3Harris Technologies (NYSE:LHX) has unveiled the XL Extreme™ 400P, a rugged handheld radio designed for emergency responders. This radio meets stringent two-way RF standards and showcases advanced technologies used in military communications. It withstands extreme conditions, withstanding flame exposure of over 1,700°F and featuring top-notch audio quality and noise cancellation. Integrated functionalities such as Wi-Fi, Bluetooth, and GPS enhance usability. This addition supports L3Harris' mission to provide reliable communication solutions in demanding environments.
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