L3Harris Reports Strong Third Quarter 2019 Results with Double-Digit Revenue Growth, Margin Expansion Across all Segments and Robust Cash Flow

Revenue increased 10% for the quarter and year-to-date versus prior-year combined revenue, with double-digit growth across Integrated Mission Systems, Space and Airborne Systems and Communication Systems. GAAP EPS increased 7% for the quarter and 19% year-to-date driven by higher volume from the L3Harris merger, strong operational performance, integration savings and the gain on the sale of the Harris Night Vision business, partially offset by integration costs and a step-up in deal-related amortization. Non-GAAP EPS4 grew 26% for the quarter and 27% combined year-to-date versus prior-year combined EPS from higher volume, strong operational performance and synergy savings, partially offset by higher investments and, for the third quarter, a higher tax rate. Year-to-date combined adjusted EBIT4 margin expanded 130 bps to 16.3% and funded book-to-bill was 1.09.

Segment Results5

Integrated Mission Systems

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ millions)

Third Quarter

 

Year-to-Date

 

 

 

CY 2019

 

CY 2018

 

Change

 

CY 2019

 

CY 2018

 

Change

 

 

Revenue

$

1,303

 

 

$

1,186

 

 

10

%

 

$

3,916

 

 

$

3,520

 

 

11

%

 

 

Operating income

$

180

 

 

$

145

 

 

24

%

 

$

497

 

 

$

416

 

 

19

%

 

 

Operating margin

13.8

%

 

12.2

%

 

160bps

 

12.7

%

 

11.8

%

 

90bps

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »
Featured Video
Editorial
Jobs
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Equipment Engineer, Raxium for Google at Fremont, California
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Upcoming Events
FABTECH Orlando 2024 at Orange County Convention Center Orlando FL - Oct 15 - 17, 2024
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025
Automate 2025 at Detroit, Michigan, USA MI - May 12 - 15, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise