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.
Sidus Space, Inc. (NASDAQ:SIDU) has announced a partnership with L3Harris Technologies (NYSE:LHX) through the Department of Defense Mentor-Protégé Program (MPP). This collaboration aims to enhance Sidus' operational capabilities within the defense sector, enabling the company to improve its processes and gain insights from a larger company perspective. The agreement, effective from April 1, 2023, to March 31, 2024, will expand Sidus' supplier relationships and solidify its position in providing Space-as-a-Service solutions to global customers, including the Department of Defense. The MPP has successfully aided over 190 businesses in the past five years to carve out unique roles in the military supply chain.
L3Harris Technologies (NYSE:LHX) has finalized the sale of its Visual Information Solutions (VIS) business to NV5 Global Inc. (NASDAQ: NVEE). The VIS division specializes in commercial geospatial software and services that transform geospatial and terrestrial imagery into actionable insights. This divestiture aligns with L3Harris’ strategic goal of optimizing its portfolio and focusing on long-term investments that support national security and multi-domain solutions.
L3Harris Technologies (NYSE:LHX) will announce its financial results for Q1 2023 on April 27, 2023, at approximately 4:30 p.m. ET. An Investor Letter will be published, accessible at L3Harris.com. A conference call will take place on April 28, 2023, at 8:30 a.m. ET, focusing on Q&A, and lasting about 45 minutes. Participants can join via dial-in numbers or webcast. A recording will be available post-call at noon the same day.
L3Harris Technologies has entered a Cooperative Research and Development Agreement (CRADA) with the U.S. Army to enhance the integration of advanced technology in Next Generation Combat Vehicles. This partnership focuses on implementing the Army’s Modular Open Systems Approach (MOSA), aimed at reducing costs and development timelines. The agreement facilitates collaboration on open-systems standards to ensure mission readiness across multiple domains. L3Harris aims to leverage its expertise to expedite technology solutions for the Army, bolstering its position in the defense market.
Aerojet Rocketdyne's shareholders have approved all proposals necessary for L3Harris Technologies to proceed with the acquisition. This marks a significant milestone in the acquisition process, with integration planning already underway according to L3Harris CEO Christopher E. Kubasik. The company is currently addressing inquiries from the Federal Trade Commission as they aim for a swift closing.
L3Harris Technologies (NYSE: LHX) has received a 'second request' from the Federal Trade Commission (FTC) regarding the regulatory review of its acquisition of Aerojet Rocketdyne (NYSE: AJRD). This request extends the waiting period mandated by the Hart-Scott-Rodino Act until 30 days after L3Harris and Aerojet Rocketdyne fulfill the FTC's information request. The transaction is still anticipated to close in 2023, pending shareholder approval from Aerojet Rocketdyne and other standard closing conditions.
L3Harris Technologies (NYSE: LHX) has secured a $765 million contract from NASA to develop a next-generation high-resolution imager for NOAA’s Geostationary Extended Observations (GeoXO) satellite system. This advanced technology will offer real-time, high-resolution visible and infrared imagery, significantly enhancing weather forecasting and environmental monitoring capabilities. The GeoXO mission, set to launch in 2032 and operational until 2055, aims to improve precision in severe weather forecasts and provide critical data for disaster response.
L3Harris Technologies (NYSE: LHX) has achieved a significant milestone by surpassing its goal to reduce greenhouse gas emissions by 30%, three years ahead of schedule. This accomplishment is highlighted in their annual Sustainability Report, which emphasizes the company's leadership in sustainability within the aerospace and defense sector. The report also reaffirms L3Harris’ commitment to reducing water use and landfill diversion by 2026. The company's sustainability efforts are driven by energy reduction initiatives and renewable energy sources, supported by significant community contributions totaling nearly $17 million since 2019. The complete report is accessible on their official website.
L3Harris Technologies (NYSE: LHX) has received an undefinitized contract from Lockheed Martin to procure long-lead materials for the Viper Shield electronic warfare system. This initiative aims to accelerate global product delivery and minimize procurement risks. Viper Shield is designed to enhance the protection of F-16 Block 70/72 aircraft, ensuring mission safety in complex environments. The program remains on schedule, with successful critical design reviews and tests expected to continue later this year.
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