L3Harris backlog rises to a record $42 billion, raises full-year guidance

Golden Ten Data, July 30th｜Defense contractor L3Harris released its second-quarter results, reporting revenue of $5.88 billion, exceeding the market’s expectation of $5.81 billion; earnings per share were $3.13, also surpassing the expected $2.80. During the period, new orders totaled $7.3 billion, bringing the backlog to a record $42 billion. Looking ahead for the full year, L3Harris raised its performance guidance, now expecting adjusted EPS to be between $11.80 and $12, higher than the market’s expectation of $11.61; revenue is projected to be between $23.2 billion and $23.7 billion, compared to the market estimate of $23.58 billion.