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.
The U.S. Air Force has awarded L3Harris Technologies (NYSE:LHX) a five-year contract valued up to $668 million to maintain its C-130 aircraft fleet readiness. L3Harris will perform sustainment at its 1.1 million-square-foot center in Waco, Texas, which is equipped for comprehensive missionization and aircraft services. This contract supports the Air National Guard, Air Force Reserve, and other military branches, helping to alleviate capacity constraints within the Air Logistics complexes. L3Harris emphasizes its extensive C-130 experience and skilled personnel as key assets in fulfilling this contract.
L3Harris Technologies (NYSE:LHX) has secured contracts worth $233 million from the Australian Defence Force to provide secure communications and advanced night vision technology. The contracts include a three-year, $115 million follow-on contract for cryptographic modernization and $118 million for enhanced night vision capabilities. These technologies aim to bolster the situational awareness and safety of Australian soldiers. Both contracts will feature in-country support and repair services in Australia.
L3Harris Technologies (NYSE:LHX) has successfully completed a technology demonstration for the U.S. Space Force, showcasing a Multi-Band Multi-Mission (MBMM) phased array ground antenna system.
This innovative system enables 16 simultaneous satellite contacts, significantly enhancing communication capabilities while lowering infrastructure costs. The demonstration confirmed live contacts across multiple orbital regimes at Schriever Air Force Base, reflecting L3Harris's commitment to meeting the growing satellite mission demands.
The U.S. Navy has awarded L3Harris Technologies a five-year, $496 million contract to develop prototype tactical jamming pods. These Next Generation Jammer Low Band (NGJ-LB) systems enhance U.S. air superiority by providing advanced jamming capabilities across a broad spectrum.
Eight operational pods will be delivered for fleet assessment, replacing the aging ALQ-99 Tactical Jamming System. This contract underscores L3Harris's commitment to supporting the Navy's mission and addressing operational gaps, promoting the company's position as a strong technology provider.
L3Harris Technologies (NYSE:LHX) will host a conference call on January 29, 2021, at 8:30 a.m. ET to discuss its fourth quarter 2020 financial results. Participants can join via dial-in or webcast at L3Harris.com. A recording will be available after 12 p.m. ET on the same day. L3Harris is a leading aerospace and defense technology provider with approximately $18 billion in annual revenue and 48,000 employees, serving customers in over 100 countries.
L3Harris Technologies (NYSE:LHX) has secured a $57 million contract for its Falcon IV® AN/PRC-163 two-channel handheld radios from the U.S. Army under a two-channel Leader radio IDIQ contract. Deliveries are set to begin in early 2021. This award is significant as it enhances L3Harris's leadership in tactical communications, and the contract has a potential value of $3.9 billion over a 10-year term. The AN/PRC-163 supports multiple communication channels and is key to the Army’s Integrated Tactical Network.
L3Harris Technologies (NYSE:LHX) executives, Chairman and CEO William M. Brown and CFO Jay Malave, will present at Baird’s 2020 Virtual Global Industrial Conference on November 12, 2020. The presentation is scheduled to begin at 7:55 a.m. ET and will be available in a listen-only mode. Interested parties can access the live stream via this link. A replay will be accessible on the company's website for seven days post-event.
L3Harris, a leader in aerospace and defense technology, generates approximately $18 billion in annual revenue with a workforce of 48,000.
L3Harris Technologies (NYSE:LHX) has secured a firm-fixed price contract to missionize three King Air 350ER aircraft for the Canadian Department of National Defence as part of the CMAISR project. This initiative aims to enhance airborne intelligence, surveillance, and reconnaissance capabilities for deployed operations, incorporating advanced L3Harris systems such as full-motion video sensors and secure communications. Modifications will occur at L3Harris facilities in Texas and Quebec, with a commitment to on-time and on-budget delivery.
L3Harris Technologies (NYSE:LHX) reported Q3 2020 revenue of $4.5 billion, a 0.7% increase year-over-year, with a 4.4% organic growth. GAAP net income fell 1.1% to $430 million, while GAAP EPS rose 4.7% to $1.99. Adjusted EBIT increased 4.2% to $798 million, with a 17.9% margin. Revenue growth was primarily driven by Integrated Mission Systems and Space & Airborne Systems, despite a 16% decline in Aviation Systems due to COVID-19. The company also updated its 2020 guidance, anticipating revenue of ~$18.4 billion and increased EPS projections.
U.S. Special Operations Command has awarded L3Harris Technologies (NYSE:LHX) an $82 million order for the Falcon IV® AN/PRC-167 multi-channel manpack radio. This order is part of a larger $255 million IDIQ contract aimed at enhancing tactical communications. The AN/PRC-167 radio provides advanced capabilities, enabling interoperability with coalition forces and supporting a range of missions. The system is designed for various operational challenges and supports fast software updates for additional features.
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