L3Harris raises 2026 revenue guidance to $23.2 bln-$23.7 bln from $23 bln-$23.5 bln
Company lifts 2026 diluted EPS outlook to $11.80-$12.00 from $11.40-$11.60
2026 segment revenue guidance: Space & Mission Systems ~$11.7 bln, Communications & Spectrum Dominance ~$8 bln, Missile Solutions ~$4.1 bln
Q2 results beat estimates
U.S. defense contractor's Q2 revenue rose 8% yr/yr, driven by growth across all segments
Adjusted EPS for Q2 beat analyst expectations
Company raised 2026 guidance for consolidated revenue and EPS
Result drivers
New programs and backlog - Co said Q2 revenue growth was driven by new program starts and strong execution against record backlog
Segment volume and performance - Segment operating income rose across all segments due to increased volume and improved program performance, partially offset by higher R&D costs and absence of asset sale gains
International deliveries - Higher international deliveries for software-defined resilient communications equipment contributed to revenue growth in Communications & Spectrum Dominance
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the aerospace & defense peer group is "buy"
Wall Street's median 12-month price target for L3harris Technologies, Inc is $390.00, about 27.8% above its July 28 closing price of $305.20
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 29 three months ago
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