LHX
L3Harris Technologies, Inc.282.85
-5.68-1.97%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A affirms MSL growth, RemainCo upside
Q&A doubled down on missile solutions' double-digit CAGR potential, backed by an independent market study and fresh THAAD/PAC-3 frameworks, while framing $600M CapEx as a one-time SRM modernization already $0.5B underway since Aerojet buy. RemainCo targets mid-single-digit growth, with upside if FY27 budget hits $1.5T. Management dismissed supply chain and staffing worries, citing matured partnerships and hiring strength. Tactical comms look resilient via international wins and software-defined upgrades. No walk-backs; just execution confidence. Capacity wins races.
Key Stats
Market Cap
52.92BP/E (TTM)
30.48Basic EPS (TTM)
9.28Dividend Yield
0.02%Recent Filings
8-K
CFO appointment, Bedingfield to Missiles
L3Harris named Kenneth Sharp Senior VP and CFO effective March 16, 2026, succeeding Kenneth Bedingfield, who shifts to lead Missile Solutions exclusively. Sharp joins from Peraton with $875,000 base salary, 100% target cash incentive, $3.25M equity, $3.5M RSUs, and $1M sign-on bonus (24-month clawback). Bedingfield eyes Missile Solutions IPO later this year. Leadership refocus sharpens defense priorities.
10-K
FY2025 results
L3Harris delivered FY2025 revenue of $21.9B, up 3% y/y, with operating income rising to $2.1B amid higher volumes across segments but tempered by the CAS divestiture. Q4 momentum shone in AR's 10% full-year growth from missile ramps and CS's 4% revenue gain via international tactical comms deliveries, while SAS margins expanded to 12.3% on FAA volume and asset monetizations. Backlog swelled 13% to $38.7B, signaling robust demand; op cash flow hit $3.1B. Yet fixed-price contracts expose margins to overruns. U.S. Government funding cuts threaten quarterly momentum.
8-K
CEO launches 10b5-1 sale plan
L3Harris CEO Christopher Kubasik set up a Rule 10b5-1 trading plan on February 4, 2026, for selling up to 129,501 vested 2019 options expiring 2029 and 60,000 common shares. Sales kick off May 2026, wrapping by October 30, subject to price floors. No discretion for Kubasik. His stake dwarfs ownership guidelines; future trades hit Form 4s.
8-K
Strong 2025 results, 2026 guidance
L3Harris reported 2025 revenue of $21.9B, up 3% (5% organic), with record $27.5B orders at 1.3x book-to-bill. Adjusted free cash flow hit $2.8B, up 21%, while non-GAAP EPS rose 11% to $10.73. Cash flowed strong. 2026 guidance eyes $23B-$23.5B revenue, $11.30-$11.50 EPS amid segment realignment and pending Space Technology sale.
8-K
L3Harris reorganizes into three segments
L3Harris reorganized from four to three business segments effective January 5, 2026: Space & Mission Systems (Sam Mehta), Communications & Spectrum Dominance (Jon Rambeau), and Missile Solutions (Ken Bedingfield). Ed Zoiss shifted from Space & Airborne Systems president to VP, Engineering & Innovation. New structure aligns capabilities with warfighter needs. Details on 2025 financial realignment coming January 29.
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