AI Earnings Predictions for L3Harris Technologies Inc. (LHX)

EX-99.1

2 exhibit991q2cy26earnings.htm

EX-99.1

Document

Exhibit 99.1

Earnings Release

L3Harris Technologies Reports Robust Second Quarter 2026 Results

MELBOURNE, Fla., July 29, 2026 — L3Harris Technologies (NYSE: LHX) reports second quarter 2026 results.

Highlights

•Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion

•Revenue of $5.9 billion, up 8%

•Operating margin of 11.1%, up 60 bps; Segment operating margin of 16.0%

•Diluted EPS of $3.13, up 28%

•Operating cash flow of $879 million; Free cash flow of $771 million, both up 37%

•Increased 2026 guidance for consolidated revenue and EPS

“Our Trusted Disruptor culture, underpinned by early and strategic investments and leveraging our commercial business model, continues to deliver results. We deploy capabilities to support the warfighter's need to sense, connect and respond, addressing today’s complex threat environment quickly and at scale,” said Christopher Kubasik, Chairman and CEO.

Kubasik added, “Our purpose-built portfolio and focus on execution drove outstanding second quarter results. Strong orders, record backlog and double-digit first half growth reinforce our multi-year track record of delivering on our financial commitments.”

PAGE 1

SUMMARY FINANCIAL RESULTS

Second QuarterYear to Date2026 Guidance

($ millions, except per share data)2026 2025 2026 2025

Revenue

Space & Mission Systems$2,966$2,770$5,956$5,181

Communications & Spectrum Dominance1,9431,8613,7983,670

Missile Solutions1,0549252,0441,765

Intersegment(82)(130)(173)(204)

Segment revenue1 5,8815,42611,62510,412

Other2 ———146

Revenue$5,881$5,426$11,625$10,558

$23.2B - $23.7B

(Prior: $23B - $23.5B)

Operating income

Space & Mission Systems$290$289$603$527

Communications & Spectrum Dominance522458987901

Missile Solutions130116254212

Segment operating income1 9428631,8441,640

Unallocated corporate items and other, net2 (see Table 4) (288)(292)(538)(544)

Operating income$654$571$1,306$1,096

Operating margin11.1%10.5%11.2%10.4%

Segment operating margin1 16.0%15.9%15.9%15.8%low 16%

Tax rate

Effective tax rate15.5%12.6%14.4%14.1%

GAAP EPS

Diluted EPS$3.13$2.44$5.85$4.48 $11.80 - $12.00

(Prior: $11.40 - $11.60)

Diluted weighted-average common shares outstanding187.3187.8187.7188.5

Cash flow

Cash from operations$879$640$784$598$3.6B

Free cash flow3

$771$561$584$460$3.0B

Repurchases of common stock$229$253$525$822

Dividends paid$232$225$470$453

1 Segment revenue, operating income, and margin are non-GAAP Financial Measures as defined by Regulation G and reconciled to GAAP in Table 5. A reconciliation of segment operating margin on a forward-looking basis to GAAP is not available without unreasonable effort due to the unavailability of items for exclusion from the GAAP measure. We are unable to address the probable significance of this information, the variability of which may have a significant impact on future GAAP results.

2 Includes other non-reportable businesses, which is the divested Commercial Aviation Solutions business ("CAS disposal group").

3Free cash flow is a non-GAAP Financial Measure defined and reconciled to GAAP in Table 6. Net cash provided by operating activities is anticipated to be approximately $3.6 billion and capital expenditures are anticipated to be approximately $600 million.

PAGE 2

Revenue: Second quarter revenue increased $455 million, up 8%, driven by growth across all segments resulting from new program starts and strong execution against our record backlog.

Operating Income: Second quarter operating income increased $83 million, up 15%. Operating margin was 11.1%, up 60 bps. The improvement in operating income was driven by an increase in segment operating income primarily at Communications & Spectrum Dominance and lower corporate and other expense.

Segment Operating Income: Second quarter segment operating income increased $79 million, up 9%. Segment operating margin was 16.0%, up 10 bps. Segment operating income grew across all segments due to increased volume and improved program performance, partially offset by the absence of $92 million in gains recognized in connection with the sale of assets in second quarter 2025 as well as increased research and development costs.

GAAP EPS: Second quarter GAAP EPS increased 28% to $3.13 driven by higher volume, improved program performance, lower corporate and other expense, including the non-cash preferred stock deemed dividend, partially offset by lower net asset and investment gains.

Cash Flow: Cash from operations was $879 million, driven by higher net income and working capital timing. Capital expenditures were $108 million, contributing to free cash flow of $771 million, up 37%.

PAGE 3

SEGMENT RESULTS

Space & Mission Systems

Second QuarterYear to Date2026 Guidance

($ millions)20262025Change20262025Change

Revenue$2,966$2,7707%$5,956$5,18115% ~$11,700

(Prior: ~$11,500)

Operating margin9.8%10.4%(60) bps10.1%10.2%(10) bps mid 10%

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hrs-202601290000202058false00002020582026-01-292026-01-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 29, 2026

L3HARRIS TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware 1-386334-0276860

(State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

1025 West NASA Boulevard Melbourne,Florida 32919 (Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (321) 727-9100

No change

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $1.00 per shareLHXNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On January 29, 2026, L3Harris Technologies, Inc. released its fourth quarter financial results in an earnings release.

The earnings release announcing the release of the fourth quarter financial results is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. The information contained in this Current Report on Form 8-K that is furnished under Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such a filing, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

EXHIBIT INDEX

The following exhibits are provided herewith:

99.1Earnings Release, issued by L3Harris Technologies, Inc. on January 29, 2026 (furnished pursuant to Item 2.02).

104Cover Page Interactive Data File formatted in Inline XBRL

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

L3HARRIS TECHNOLOGIES, INC.

By:/s/ Kenneth Bedingfield Name:Kenneth Bedingfield Title:Senior Vice President, Chief Financial Officer and President, Aerojet Rocketdyne

Date: January 29, 2026