L3Harris Technologies Reports Strong First Quarter 2024 Results, Increases 2024 Profitability Guidance
• Orders of $5.5 billion; book-to-bill of 1.06x
• Revenue of $5.2 billion, up 17%, up 5% organically1
• Operating margin of 7.3%; Adjusted segment operating margin of 15.1%
• Earnings per share (EPS) of $1.48; Non-GAAP EPS1 of $3.06
• 2024 adjusted segment operating margin 1 guidance increases from ~15% to >15%*
• 2024 non-GAAP EPS guidance range increases from $12.40 - $12.80 to $12.70 - $13.05*
A little pop out of LHX today... Seems to be heading in the right direction.
They seem to be achieving the integration savings from the merger, reduction to debt, and they seem to be optimistic on the demand for Aerojet. They restarted their buy back but only enough to offset dilution. They mentioned they are going to be reducing and simplifying the adjustments to their non-gap numbers. I would like to see more prime contracts, and expansion internationally.