![](//www.4rfv.com/images/no_image.jpg)
Orders1 of $5.5 billion; book-to-bill of 1.06x
Revenue of $5.2 billion, up 17%, up 5% organically1
Operating margin of 7.3%; Adjusted segment operating margin1 of 15.1%
Earnings per share (EPS) of $1.48; Non-GAAP EPS1 of $3.06
2024 adjusted segment operating margin1 guidance increases from 15% to >15%*
2024 non-GAAP EPS guidance range increases from $12.40 - $12.80 to $12.70 - $13.05*
MELBOURNE, Fla., April 25, 2024 - L3Harris Technologies, Inc. (NYSE: LHX) reported first quarter 2024 net income attributable to L3Harris of $283 million, or diluted earnings per share (EPS) of $1.48, on first quarter revenue of $5.2 billion. First quarter 2024 non-GAAP1 net income attributable to L3Harris was $584 million, or non-GAAP1 diluted EPS of $3.06. A reconciliation of non-GAAP results are detailed in tables beginning on page 10.
Were off to a strong start to 2024, reporting solid revenue with higher operating margin across all four segments and our Trusted Disruptor strategy continues to drive demand for innovative, resilient and mission-critical solutions aligned with national security needs. We delivered double-digit top line growth while continuing to drive improvements to operational and program performance, said Christopher E. Kubasik, Chair and CEO.
Kubasik continued, Given the strength of our first quarter, we are increasing 2024 profitability guidance, while reaffirming revenue and free cash flow commitments. With our progress, we remain confident in the financial framework that we laid out at investor day which is driven by operational rigor and structural enhancements from our LHX NeXt initiative.
Conference Call and Webcast
L3Harris Technologies will host a call tomorrow, April 26, 2024, at 8:30 a.m. Eastern Time (ET).
The dial-in numbers for the teleconference are (U.S.) 877-407-6184 and (International) 201-389-0877, and participants will be directed to an operator. Participants are encouraged to listen via webcast, which will be broadcast live at L3Harris.com/investors. A recording of the call will be available on the L3Harris website, beginning at approximately 12 p.m. ET on April 26, 2024.
About L3Harris Technologies
L3Harris Technologies is the Trusted Disruptor in the defense industry. With customers' mission-critical needs always in mind, our 50,000 employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that reflect managements current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this press release include but are not limited to: 2024 guidance; 2024-2026 capital deployment priorities; anticipated LHX NeXt program costs and savings targets and their impacts on operational performance, margin expansion and accelerating adjusted free cash flow growth; supplemental financial information for 2024; and other statements regarding the business outlook and financial performance guidance that are not historical facts. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements, including but not limited to: competitive markets and U.S. Government spending priorities; changes in the mix of fixed-price, cost-plus and time-and-material type contracts and the impact of a significant increase in or sustained period of increased inflation; the termination, impact of regulations, failure to fund, or negative audit findings for U.S. Government contracts; uncertain economic conditions; the consequences of future geo-political events; the impact of government investigations; the risks of doing business internationally; disruptions to our supply chain; the attraction and retention of key employees; the ability to develop new products and services and technologies that achieve market acceptance; natural disasters or other significant business disruptions; inability to achieve the expected results of LHX NeXt; indebtedness and ability to make payments on, repay or service indebtedness; unfunded defined benefit plans liability; the level of returns on defined benefit plan assets, changes in interest rates and other market factors; changes in effective tax rate or additional tax exposures; the ability to obtain export licenses or make sales to foreign governments; unforeseen environmental issues; the outcome of litigation or arbitration; potential claims related to infringement of intellectual property rights or environmental remediation or other contingencies; expanded operations, including related to handling of dangerous materials; risks related to other strategic transactions, including pending and contemplated divestitures. Further information relating to these and other factors that may impact the companys results, future trends and forward-looking statements are disclosed in the companys filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Persons reading this press release are cautioned not to place undue reliance on forward-looking statements.
1 See definitions in the First Quarter 2024 Results available for download above.
* A reconciliation is not available. See t
More from Harris
26/07/2024
Orders1 of $5.2 billion; book-to-bill of 1.0x
Revenue of $5.3 billion, up 13%
...
23/07/2024
In order to effectively act and adapt at the speed of relevance, mission agility...
19/07/2024
L3Harris Commercial Aviation has launched PilotApp, designed to empower pilots w...
19/07/2024
L3Harris Technologies announce a landmark agreement with Air India to become lea...
18/07/2024
We're outfitting Team Lynx's XM30 with digitally engineered mission syst...
18/07/2024
MELBOURNE, Fla., July 18, 2024 - L3Harris Technologies (NYSE:LHX) is working col...
18/07/2024
L3Harris is pleased to announce that it has secured a contract with Air Astana J...
17/07/2024
Space Launch System Core Stage for Artemis II Rocket Loaded onto Pegasus Barge. Image Credit: NASA...
17/07/2024
L3Harris, a global leader in the manufacture of flight training devices, has had...
15/07/2024
Today we announced that all U.S.-based employees currently on a hybrid schedule will resume working onsite full time as of Sept. 16, 2024. We will continue to s...
10/07/2024
See L3Harris in action with CANDU Plant Control Systems...
10/07/2024
MELBOURNE, Fla., July 10, 2024 - L3Harris Technologies (NYSE:LHX) has completed testing on its latest Viper Shield Electronic Warfare (EW) system, which enhance...
09/07/2024
A successful test flight demonstrates advanced capabilities of our AN/ALQ-172 electronic warfare self-protection system....
08/07/2024
CANOGA PARK, Calif., July 8, 2024 - Aerojet Rocketdyne, an L3Harris Technologies (NYSE:LHX) company, has completed modernizing the four flight-proven RS-25 engi...
03/07/2024
L3Harris is on pace to equip the U.S. Navys F/A-18 Hornet and Super Hornet aircr...
02/07/2024
Aerojet Rocketdyne's solid rocket motors incorporate advanced technologies and materials to provide proven propulsion to customers. To understand why these ...
02/07/2024
L3Harris is on pace to equip the U.S. Navy's F/A-18 Hornet and Super Hornet ...
02/07/2024
Science, Technology, Engineering and Maths (STEM) skills play a critical role at L3Harris. To show its dedication to engaging young people in STEM-related subje...
02/07/2024
As a trusted partner of the Royal Canadian Air Force (RCAF) for over 75 years, L3Harris is proud to celebrate the 100th Anniversary of the RCAF and sponsor seve...
01/07/2024
MELBOURNE, Fla., July 1, 2024 - L3Harris Technologies (NYSE:LHX) will release its second quarter 2024 financial results on Thursday, July 25, 2024, after market...
26/06/2024
This Pride month I want to celebrate our LGBTQ+ colleagues, regardless of being out and proud or struggling to tell that first person. At L3Harris our commitmen...
26/06/2024
From left to the right: Tiziana Cotugno, Vice President-Europe and NATO, L3Harris; Jack Markell, U.S. Ambassador to Italy; David Johnson, Vice President, Intern...
25/06/2024
MELBOURNE, Fla., June 25, 2024 - L3Harris Technologies (NYSE:LHX) has received a new U.S. Army contract worth up to $871 million to deliver fuzes that will supp...
25/06/2024
Photo credit: BAE...
20/06/2024
One year following the acquisition of the Link 16 Tactical Data Links business from ViaSat Inc. for nearly $2 billion, L3Harris reflects on successes from the i...
20/06/2024
ROCHESTER, N.Y., June 20, 2024 - L3Harris Technologies (NYSE: LHX) has received ...
18/06/2024
MELBOURNE, Fla., June 18, 2024 - The L3Harris Technologies (NYSE:LHX) high-resol...
18/06/2024
MELBOURNE, Fla., June 18, 2024 - L3Harris Technologies (NYSE:LHX) joined maritim...
17/06/2024
Six Considerations for Imaging Sensor Modernization and Counter-UAS Applications...
17/06/2024
Digital core will enable innovation, service improvements and affordability at L...
13/06/2024
Courtesy Photo: Missile Defense Agency/DVIDS | A THAAD interceptor is launched f...
12/06/2024
L3Harris delivers three integrated King Air 350ER ISR aircraft to the Canadian Armed Forces (CAF)...
07/06/2024
Kalumba Poshi, Senior Logistics Manager, provides overview of the company's ...
06/06/2024
The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement....
05/06/2024
A United Launch Alliance (ULA) Atlas V rocket carrying NASA astronauts Barry Bu...
04/06/2024
L3Harris announces the expansion of its partnership with Monmouth County by supp...
03/06/2024
Sandy Diep, Project Engineering Sustaining Co-op - L3Harris' 2023 recipient based at our Waterdown, ON facility...
03/06/2024
MELBOURNE, Fla., June 3, 2024 - L3Harris Technologies (NYSE:LHX) has completed i...
31/05/2024
A U.S. Marine fires an FIM-92 Stinger missile during a training exercise in Yuma...
30/05/2024
Photo credit: BAE...
30/05/2024
L3Harris' WESCAM MX -10 RSTA provides advanced ISR and targeting capabilities for land-based platforms including Unmanned Ground Vehicles....
29/05/2024
In 2018, Rich Foster, Vice President of L3Harris Canada, envisioned a transformative initiative to address the gender and diversity gap in science, technology, ...
29/05/2024
The christening of OUSV Vanguard, the U.S. Navys newest Unmanned Surface Vehicle, marks a pivotal moment in Naval technology. Developed through the joint Strate...
28/05/2024
Aerojet Rocketdyne's Advanced Manufacturing Facility opened in 2019. The com...
27/05/2024
L3Harris has been maintaining Canada's CC-150 Polaris fleet for over a decad...
21/05/2024
Today, I am a proud first-generation college graduate with a master's degree in electrical engineering. Never give up, keep learning, keep working hard and ...
17/05/2024
Aerojet Rocketdyne has worked to modernize facilities at its Camden, Arkansas, l...
15/05/2024
MELBOURNE, Fla., May 15, 2024 - L3Harris Technologies (NYSE:LHX) Chair and CEO Christopher E. Kubasik will present at the Bernstein Annual Strategic Decisions C...
14/05/2024
Notional render of Lockheed Martins Next Generation Interceptor. Credit: Lockheed Martin...
14/05/2024
Access to commercial satellite imagery has become increasingly democratized. Students, startups, researchers and casual enthusiasts are leveraging satellite dat...