Connect with us

Hi, what are you looking for?


L3Harris Technologies beats results estimates on robust weapons demand

The logo of L3Harris
The logo of L3Harris

A defense contractor, L3Harris Technologies (LHX.N), exceeded third-quarter earnings projections on Thursday due to increased military spending worldwide and geopolitical unrest.

Following its acquisition of Aerojet in July, L3Harris increased its yearly revenue and earnings projections to include the manufacturer of rocket engines.

Shoulder-fired missiles, artillery, and other weapons are being replenished due to the ongoing conflict in Ukraine, giving American military corporations lucrative contracts with the Pentagon.

Demand is still strong despite a more dangerous climate, according to Christopher Kubasik, CEO of L3Harris.

Having previously provided guidance of between $18.0 billion and $18.3 billion on earnings of $12.25 to $12.55 per share, the defense contractor now forecasts full-year sales between $19.2 billion and $19.4 billion on earnings of $12.25 to $12.45 per share.

$5.01 billion worth of orders were given to L3Harris during the quarter ending September 29.

The Florida-based business reported an adjusted profit per share of $3.19, above analysts’ $3.03 average forecast. LSEG data shows that revenue increased by 16% to $4.92 billion, above estimates of $4.76 billion.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The future of technological innovation is here. Be the first to discover the latest advancements, insights, and reviews. Join us in shaping the future.

You May Also Like


What distinguishes open-source software from proprietary software? See the pros and cons of this tech favorite. Pros: Open-source software is usually free or low-cost...


Are you ready to enter a world of limitless possibilities? Artificial Intelligence is here, and it's changing the game. From improved healthcare to increased...


Learn the basics of blockchain technology and how it is revolutionizing the world of cryptocurrency. Discover why blockchain is driving decentralization and security.  ...


Discover NLP and AI technology's latest advancements and applications in language processing. Learn how NLP and AI are transforming various industries. Explore the benefits...