L3Harris Technologies Q2 Earnings: EPS Beat, Revenue Up 13%, Guidance Raise And More

L3Harris Technologies Inc LHX reported financial results for the second quarter after the market close on Thursday. Here’s a look at the key metrics from the quarter.

Q2 Earnings: L3Harris said second-quarter revenue increased 13% year-over-year to $5.3 billion, which was in line with consensus estimates, according to Benzinga Pro. The company reported adjusted earnings of $3.24 per share, beating analyst estimates of $3.17 per share.

L3Harris reported operating cash flows of $754 million. The company said it generated $714 million in adjusted free cash flow during the quarter.

“We delivered another strong quarter of financial results with improved margins, reflecting our commitment to operational excellence and a relentless focus on execution that delivers value to our customers and shareholders,” said Christopher Kubasik, chair and CEO of L3Harris.

“Our first half results reflect progress toward achieving our 2026 financial framework. We are raising our revenue, margin and EPS guidance for the year, underscoring the tangible results of our LHX NeXt initiative, which is focused on streamlining our operations and enhancing our efficiency while transforming the company.”

See Also: Ford Stock Falls After Q2 Earnings Miss, Rising Costs: Analysts Cautious With ‘Core To Future Transition Underway’

Outlook: L3Harris raised its full-year 2024 revenue guidance from a range of $20.8 billion to $21.3 billion to a new range of $21 billion to $21.3 billion, versus estimates of $21.21 billion. The company also raised its full-year earnings guidance from a range of $12.70 and $13.05 per share to a new range of $12.85 to $13.15, versus estimates of $12.97 per share.

Management will hold a conference call to discuss these results Friday morning at 8:30 a.m. E.T.

LHX Price Action: L3Harris Technologies shares were up 0.71% after hours at $245 at the time of publication Thursday, according to Benzinga Pro.

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Photo: Courtesy of L3Harris.