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L3Harris Technologies, Inc. (NYSE:LHX), a prominent player in the aerospace and defense industry with a market capitalization of $40.6 billion, disclosed its financial outcomes for the first quarter on Thursday. The company, which specializes in a wide range of systems including search, detection, navigation, guidance, and aeronautical systems, has demonstrated solid performance with revenue reaching $21.32 billion and growth of 9.8% over the last twelve months. According to InvestingPro analysis, the company appears to be trading above its Fair Value, with 12 analysts recently revising their earnings expectations downward for the upcoming period.
The details of the financial performance were not specified in the provided context, but the earnings release, referred to as Exhibit 99.1, was furnished in accordance with Item 2.02 of the Form 8-K. The company emphasized that the information contained in the report, as well as the earnings release, is not to be considered "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities of that section. Furthermore, the information will not be incorporated by reference into any future filings under the Securities Act of 1933 or the Exchange Act, unless specifically referenced. For deeper insights into L3Harris’s financial health and detailed analysis, investors can access the comprehensive Pro Research Report available on InvestingPro.
The report was signed by Kenneth L. Bedingfield, Senior Vice President, Chief Financial Officer, and President of Aerojet Rocketdyne, a subsidiary of L3Harris Technologies. The filing and the earnings release provide investors and the public with a transparent view of the company’s financial health as of the end of the first quarter.
Investors and analysts looking to understand L3Harris Technologies’ financial position and performance can refer to the earnings release for detailed information. The company’s performance is an indicator of its operational and financial health and provides insights into its strategic direction in the competitive aerospace and defense industry.
The reported financial results are based on a press release statement, and further details can be gleaned from the full earnings release provided by the company. As with all financial disclosures, the information provided by L3Harris Technologies is critical for stakeholders to make informed decisions regarding their investments and understanding of the company’s market position.
In other recent news, L3Harris Technologies reported significant developments affecting its financial and operational strategies. The company recently completed the sale of its Commercial Aviation Solutions segment to The Jordan Company for $800 million. This divestiture is expected to result in a revenue shortfall of approximately $480 million for 2025, impacting the company’s revenue forecast by 2%. Jefferies adjusted the company’s revenue estimate to $21.6 billion, reflecting a 4% organic growth excluding the sold segment, while maintaining a Buy rating but lowering the price target to $250. Additionally, Goldman Sachs upgraded L3Harris from Sell to Buy, raising the price target to $263, citing the company’s strong position in a growing defense budget environment and its solid margin performance.
L3Harris also announced the successful test of its advanced eSR-19 rocket motor during a Missile Defense Agency exercise, demonstrating improved capabilities in missile defense scenarios. Furthermore, during its 2025 Annual Meeting of Shareholders, L3Harris confirmed the election of its board members and the approval of executive compensation, with the appointment of Ernst & Young LLP as the independent auditor. A shareholder proposal on "Transparency in Lobbying" was rejected. These developments highlight L3Harris Technologies’ strategic moves and financial outlook, as well as its ongoing commitment to innovation and shareholder engagement.
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