L3Harris Technologies Reports Strong Second Quarter 2024 Results, Increases 2024 Guidance

Revenue: Second quarter revenue was flat year-over-year, resulting from continued growth in Space Systems and classified program growth in Intel and Cyber, which was offset by lower volumes in our Airborne Combat Systems business and lower revenues from the divestiture of the antenna business. Excluding this divestiture, organic revenue increased 1%.

Operating Margin: Second quarter operating margin increased 280 bps largely due to the absence of a non-cash charge that impacted 2023, improved operational and program performance, including the impact of the LHX NeXt cost savings initiative.

* A reconciliation is not available. See the note on page 2 and Non-GAAP Financial Measures on page 6 for more information.

IMS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter

 

Year to Date

 

2024 Guidance*

 

 

($ millions)

2024

 

2023

 

Change

 

2024

 

2023

 

Change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

1,729

 

 

$

1,735

 

 

%

 

$

3,398

 

 

$

3,435

 

 

(1

)%

 

$6,500 - $6,700

(Prior $6,400 - $6,600)

 

 

Operating margin

 

11.9

%

 

 

9.3

%

 

260 bps

 

 

11.7

%

 

 

10.1

%

 

160 bps

 

mid 11%*

(Prior low-mid 11%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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