L3Harris Q2 revenue beats estimates, raises annual forecasts
LHX•Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $5.90 bln | $5.81 bln (15 Analysts) |
| Q2 EPS | $3.13 |
Result drivers
- New program starts and execution - Co said Q2 revenue growth was driven by new program starts and strong execution against record backlog
- International deliveries - Communications & Spectrum Dominance segment revenue rose on increased international deliveries for software-defined resilient communications equipment and program ramps
- Missile program volumes - Missile Solutions segment revenue grew due to increased production and development volumes on key missile and munitions programs
Analyst coverage
- 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
