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 $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.
L3Harris Technologies (NYSE:LHX) has declared a quarterly cash dividend of 85 cents per share on its common stock. This dividend is payable on December 4, 2020, to shareholders of record by the close of business on November 20, 2020. L3Harris is a leader in aerospace and defense technology, generating approximately $18 billion in annual revenue and employing around 48,000 people globally. The company serves customers in over 100 countries, providing innovative solutions across various domains.
L3Harris Technologies (NYSE:LHX) has been awarded a multi-million dollar contract from the U.S. Army for its Enhanced Night Vision Goggle – Binocular (ENVG-B), which aims to improve soldier situational awareness and mobility. The total program value is $442 million, with initial funding provided under an Other Transaction Authority (OTA). The ENVG-B enhances battlefield imagery and data sharing capabilities, featuring a high-resolution display and augmented reality technology. This contract reinforces L3Harris's role as a key industry partner in defense technology.
L3Harris Technologies (NYSE:LHX) unveiled its new compact team radio at the AUSA Now 2020 event, designed to meet U.S. Army specifications. This single-channel wideband MANET radio is tailored for various military missions, sharing accessories with the AN/PRC-163 Leader Radio. The development took less than a year, showcasing L3Harris's agility in addressing customer needs. With annual revenues of approximately $18 billion, the company continues to innovate in aerospace and defense technologies across multiple operational domains.
L3Harris Technologies (NYSE:LHX) has secured a $193 million contract from the Space Development Agency to develop an end-to-end satellite system to counter advanced missile threats, including hypersonics. The project will run through 2025, focusing on delivering four space vehicles within 24 months. Key components will include wide field-of-view mission payloads, space communication solutions, and inter-satellite optical links. L3Harris is enhancing its investment in satellite technologies and has a robust background in defense-related projects.
L3Harris Technologies (NYSE:LHX) will hold a conference call on October 30, 2020, at 8 a.m. ET to discuss its third quarter financial results for 2020. Investors can join the call by dialing 877-407-6184 (U.S.) or 201-389-0877 (International). For convenience, a live webcast will be available along with a supporting slide presentation on their investor website. A recording of the call will be accessible by 12 p.m. ET on the same day. L3Harris reported approximately $18 billion in annual revenue and serves clients in over 100 countries.
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