L3Harris (LHX) Beats Q1 Earnings Estimates, Hikes '24 EPS View

Zacks04-26

L3Harris Technologies, Inc. LHX reported first-quarter 2024 adjusted earnings (from continuing operations) of $3.06 per share, which beat the Zacks Consensus Estimate of $2.89 by 5.9%. The bottom line...

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The bottom line...</p>\n\n<a href=\"https://finance.yahoo.com/news/l3harris-lhx-beats-q1-earnings-131100458.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>L3Harris (LHX) Beats Q1 Earnings Estimates, Hikes '24 EPS View</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nL3Harris (LHX) Beats Q1 Earnings Estimates, Hikes '24 EPS View\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 21:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/l3harris-lhx-beats-q1-earnings-131100458.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>L3Harris Technologies, Inc. LHX reported first-quarter 2024 adjusted earnings (from continuing operations) of $3.06 per share, which beat the Zacks Consensus Estimate of $2.89 by 5.9%. The bottom line...</p>\n\n<a href=\"https://finance.yahoo.com/news/l3harris-lhx-beats-q1-earnings-131100458.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LHX","symbol_name":"哈里斯公司","start_time":0,"source_url":"https://finance.yahoo.com/news/l3harris-lhx-beats-q1-earnings-131100458.html","article_id":"2430209756","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/E6c.Br4zGaRkJms.T3VV6g--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/720c8da91f84eaf3696b8496766072f1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430209756","pubTimestamp":1714137060,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"L3Harris Technologies, Inc. LHX reported first-quarter 2024 adjusted earnings  of $3.06 per share, which beat the Zacks Consensus Estimate of $2.89 by 5.9%. The bottom line also increased 7% from the year-ago quarter’s reported figure of $2.86.Excluding one-time items, the company reported GAAP earnings of $1.48 per share, down from $1.76 generated in the prior-year period.L3Harris Technologies Inc Price, Consensus and EPS Surprise. L3Harris Technologies Inc price-consensus-eps-surprise-chart | L3Harris Technologies Inc Quote. As of Mar 29, 2024, L3Harris had $477 million in cash and cash equivalents compared with $560 million as of Dec 29, 2023.The long-term debt as of Mar 29, 2024 was $11.14 billion compared with $11.16 million as of Dec 29, 2023.The net cash outflow from operating activities amounted to $104 million during the first quarter of 202","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"LHX":"哈里斯公司","LMT":"洛克希德马丁","HXL":"赫氏"},"translate_title":"L3Harris（LHX）超过Q1盈利预期，Hikes的24 EPS观点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LHX":1,"HXL":0.9,"LMT":0.9},"content_text":"L3Harris Technologies, Inc. LHX reported first-quarter 2024 adjusted earnings (from continuing operations) of $3.06 per share, which beat the Zacks Consensus Estimate of $2.89 by 5.9%. The bottom line also increased 7% from the year-ago quarter’s reported figure of $2.86.Excluding one-time items, the company reported GAAP earnings of $1.48 per share, down from $1.76 generated in the prior-year period.\n\nL3Harris Technologies Inc Price, Consensus and EPS Surprise  \nL3Harris Technologies Inc price-consensus-eps-surprise-chart | L3Harris Technologies Inc Quote\n\nTotal Revenues\nL3Harris’ first-quarter revenues totaled $5.21 billion, which beat the Zacks Consensus Estimate of $5.11 billion by 2%. The top line figure also rose 16.6% from the year-ago quarter’s level of $4.47 billion.The year-over-year top-line improvement can be attributed to the acquisition of Aerojet Rocketdyne and organic growth from Space and classified programs within the Space & Airborne Systems segment. Growth from tactical, broadband communication and vision products within the Communication Systems segment also contributed to overall revenue growth.\nSegmental Performance\nIntegrated Mission Systems: The segment recorded net revenues of $1.67 billion, down 1.8% year over year. This was due to lower Intelligence, Surveillance and Reconnaissance aircraft procurement activity.This segment recorded an operating income of $190 million compared to the operating income of $185 million in the first quarter of 2023. The segment’s operating margin expanded 50 basis points (bps) to 11.4%, driven by improved program performance.Space and Airborne Systems: Net revenues from the segment were $1.75 billion, up 5.8% year over year. This upside was largely driven by growth from Space Systems and classified program growth in Intel and Cyber.The operating income improved to $216 million from $187 million reported in the year-ago quarter. The operating margin expanded 100 bps to 12.3%, driven by improved operational and program performance, particularly in the Space Systems unit.Communication Systems: Net revenues from this segment increased 11.3% to $1.29 billion. This increase was primarily due to higher volumes in Tactical Communications, Integrated Vision Systems and Broadband Communications.The operating income improved to $310 million from $266 million reported in the year-ago quarter. The operating margin improved 110 bps to 24%, driven by higher volume and improved operational performance in Integrated Vision Systems.Aerojet Rocketdyne: This segment reported revenues of $542 million and an operating income of $72 million in the first quarter of 2024.\nFinancial Position\nAs of Mar 29, 2024, L3Harris had $477 million in cash and cash equivalents compared with $560 million as of Dec 29, 2023.The long-term debt as of Mar 29, 2024 was $11.14 billion compared with $11.16 million as of Dec 29, 2023.The net cash outflow from operating activities amounted to $104 million during the first quarter of 2024 against net cash flow from operating activities worth $350 million generated in the prior year.At the end of the first quarter of 2024, L3Harris’s free cash outflow came in at $156 million against free cash flow worth $315 million at the end of the first quarter of 2023.\n2024 Guidance\nL3Harris updated its 2024 guidance. It now expects to generate revenues in the range of $20.80-$21.30 billion, narrower than its earlier guidance range of $20.70-$21.30 billion.  The Zacks Consensus Estimate for revenues is pegged at $21.22 billion, higher than the midpoint of the company’s guided range.LHX increased its 2024 adjusted earnings to the range of $12.70-$13.05 per share from the prior guidance range of $12.40-$12.80. The Zacks Consensus Estimate for the same is pegged at $12.73 per share, lower than the midpoint of the projected range.LHX still expects to generate approximately adjusted free cash flow worth $2.2 billion.\nZacks Rank\nL3Harris currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nRecent Defense Releases\nRTX Corporation’s RTX first-quarter 2024 adjusted earnings per share of $1.34 beat the Zacks Consensus Estimate of $1.23 by 8.9%. The bottom line also improved 9.8% from the year-ago quarter’s level of $1.22.RTX’s first-quarter net sales were $19,305 million, which surpassed the Zacks Consensus Estimate of $18,412.6 million by 4.8%. The top line also improved 12% from $17,214 million recorded in the first quarter of 2023.Lockheed Martin Corporation LMT reported first-quarter 2024 adjusted earnings of $6.33 per share, which beat the Zacks Consensus Estimate of $5.80 by 9.1%. However, the bottom line declined 1.6% from the year-ago quarter's recorded figure of $6.43.Its net sales were $17.20 billion, which surpassed the Zacks Consensus Estimate of $16.19 billion by 6.2%. The top line also increased 13.7% from $15.13 billion reported in the year-ago quarter.Hexcel Corporation HXL reported first-quarter 2024 adjusted earnings of 44 cents per share, which came in line with the Zacks Consensus Estimate.In the first quarter, the company’s net sales totaled $472.3 million, which missed the Zacks Consensus Estimate of $475 million by 0.6%. However, the top line witnessed an improvement of 3.2% from the year-ago quarter’s reported figure of $457.7 million. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nLockheed Martin Corporation (LMT) : Free Stock Analysis Report\nHexcel Corporation (HXL) : Free Stock Analysis Report\nL3Harris Technologies Inc (LHX) : Free Stock Analysis Report\nRTX Corporation (RTX) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430209756"}