L3Harris Technologies, Inc. (LHX) Income Statement Analysis

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Complete financial analysis of L3Harris Technologies, Inc. (LHX) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of L3Harris Technologies, Inc., a leading company in the Aerospace & Defense industry within the Industrials sector.

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L3Harris Technologies, Inc. (LHX)

Industry: Aerospace & Defense

Sector: Industrials

Website: https://www.l3harris.com

About L3Harris Technologies, Inc.

L3Harris Technologies, Inc., an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions. It also manufactures and integrates mission systems for maritime platforms, such as signals intelligence and multi-intelligence platforms; unmanned surface and undersea autonomous solutions; and power and ship control systems and other electronic and electrical products and systems. In addition, this segment offers advanced electro-optical and infrared solutions. Its Space and Airborne Systems segment offers space payloads, sensors, and full-mission solutions; classified intelligence and cyber defense solutions; mission avionics; and electronic warfare systems. The company's Communication Systems segment provides tactical communications; broadband secured mobile networked communication equipment, including airborne, space, and surface data link terminals, ground stations, and transportable tactical satellite communication (SATCOM) systems for use in manned aircraft, unmanned aerial vehicles, and naval ships; and helmet and weapon mounted integrated night vision systems. This segment also offers radios, systems applications, and equipment for critical public safety and professional communications; and SATCOM terminals and battlefield management networks. Its Aviation Systems segment offers defense aviation products; commercial pilot training; and mission networks solutions for air traffic management. The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in June 2019. L3Harris Technologies, Inc. was founded in 1895 and is headquartered in Melbourne, Florida.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	19.42B	17.06B	17.81B	18.19B	18.53B	6.80B	6.17B	5.90B	5.99B	3.89B	5.01B	5.11B	5.45B	5.42B	4.73B	5.01B	4.60B	4.24B	3.47B	3.00B	2.52B	2.06B	1.84B	1.96B	1.81B	1.74B	1.92B	1.95B	3.62B	3.44B	3.34B	3.10B	3.00B	3.04B	3.05B	2.21B	2.06B	2.08B	2.22B
Cost of Revenue	14.31B	12.14B	12.44B	12.89B	13.45B	4.47B	4.07B	3.85B	3.83B	2.37B	3.31B	3.39B	3.57B	3.53B	3.05B	3.42B	3.15B	2.87B	2.39B	2.18B	1.89B	1.54B	1.35B	1.43B	1.29B	1.21B	1.38B	1.40B	2.23B	2.16B	2.12B	1.94B	1.87B	1.87B	1.79B	1.37B	1.25B	1.22B	1.35B
Gross Profit	5.11B	4.93B	5.38B	5.31B	5.07B	2.33B	2.10B	2.04B	2.16B	1.52B	1.70B	1.73B	1.88B	1.89B	1.67B	1.58B	1.45B	1.37B	1.09B	823.80M	630.30M	517.40M	482.40M	524.00M	512.90M	528.70M	543.20M	550.70M	1.39B	1.28B	1.21B	1.16B	1.14B	1.17B	1.26B	845.30M	816.30M	855.80M	862.80M
Gross Profit Ratio	26.33%	28.88%	30.18%	29.17%	27.39%	34.32%	34.08%	34.64%	36.05%	39.00%	33.96%	33.78%	34.52%	34.81%	35.39%	31.66%	31.56%	32.33%	31.34%	27.45%	25.03%	25.11%	26.28%	26.80%	28.38%	30.32%	28.22%	28.26%	38.31%	37.19%	36.41%	37.52%	37.88%	38.61%	41.32%	38.19%	39.58%	41.16%	38.92%
Research & Development	480.00M	603.00M	692.00M	684.00M	658.00M	0.00	311.00M	310.00M	305.00M	0.00	264.00M	900.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	1.47B	1.23B	3.28B	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	450.00M	483.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	1.92B	3.00B	3.28B	3.32B	2.16B	1.24B	1.18B	1.15B	1.11B	883.00M	820.00M	914.00M	940.90M	890.90M	723.20M	791.30M	746.50M	830.70M	682.30M	502.60M	421.00M	414.10M	378.30M	414.40M	415.20M	384.30M	420.70M	399.90M	911.90M	835.80M	830.80M	823.00M	817.30M	957.50M	861.30M	565.10M	603.00M	610.60M	654.80M
Other Expenses	1.29B	443.00M	469.00M	401.00M	0.00	188.00M	180.00M	164.00M	0.00	1.00M	4.00M	1.00M	11.10M	-2.00M	-1.60M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Expenses	3.69B	3.00B	3.28B	3.32B	2.81B	1.24B	1.18B	1.15B	1.11B	883.00M	820.00M	914.00M	940.90M	890.90M	723.20M	791.30M	746.50M	830.70M	682.30M	502.60M	421.00M	414.10M	378.30M	356.60M	483.80M	447.80M	482.60M	462.70M	1.08B	1.00B	984.20M	980.30M	988.50M	1.14B	1.04B	680.70M	731.00M	750.40M	789.60M
Cost & Expenses	17.99B	15.13B	15.72B	16.20B	16.27B	5.71B	5.25B	5.00B	4.94B	3.25B	4.13B	4.30B	4.51B	4.42B	3.78B	4.21B	3.89B	3.70B	3.07B	2.68B	2.31B	1.96B	1.73B	1.79B	1.78B	1.66B	1.86B	1.86B	3.32B	3.16B	3.11B	2.92B	2.85B	3.01B	2.84B	2.05B	1.98B	1.97B	2.14B
Interest Income	0.00	0.00	0.00	16.00M	0.00	2.00M	2.00M	2.00M	2.00M	2.00M	3.00M	2.00M	2.50M	2.80M	1.50M	3.20M	5.20M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	543.00M	279.00M	265.00M	254.00M	0.00	167.00M	170.00M	172.00M	183.00M	130.00M	94.00M	109.00M	113.20M	90.40M	72.10M	52.80M	53.10M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	1.17B	947.00M	970.00M	1.05B	894.00M	258.00M	260.00M	273.00M	361.00M	244.00M	204.00M	221.00M	260.30M	212.00M	165.70M	177.70M	172.20M	135.20M	98.40M	82.60M	60.10M	56.40M	55.10M	79.70M	68.60M	63.50M	61.90M	62.80M	170.70M	165.30M	153.40M	157.30M	171.20M	184.10M	183.60M	115.60M	128.00M	139.80M	134.80M
EBITDA	2.93B	2.50B	3.52B	2.64B	2.98B	1.54B	1.36B	1.35B	1.36B	879.00M	1.09B	1.13B	1.18B	1.18B	1.09B	679.60M	857.00M	529.30M	506.30M	410.10M	280.40M	136.00M	118.20M	240.60M	90.50M	150.80M	81.00M	120.00M	443.20M	421.90M	362.60M	292.80M	278.70M	161.30M	353.10M	241.00M	193.90M	208.70M	198.20M
EBITDA Ratio	15.10%	19.40%	19.83%	18.83%	17.02%	22.61%	22.07%	23.23%	23.66%	22.63%	21.81%	20.29%	22.30%	22.31%	23.59%	19.47%	19.18%	12.47%	14.57%	13.67%	11.13%	6.60%	6.44%	12.31%	5.01%	8.65%	4.21%	6.16%	12.24%	12.25%	10.87%	9.45%	9.28%	5.31%	11.57%	10.89%	9.40%	10.04%	8.94%
Operating Income	1.43B	2.37B	2.57B	2.39B	2.26B	1.28B	1.12B	1.06B	1.06B	635.00M	889.00M	816.00M	955.10M	996.60M	948.80M	796.70M	709.20M	394.10M	407.90M	327.50M	220.30M	79.60M	63.10M	160.90M	21.90M	87.30M	19.10M	57.20M	272.50M	256.60M	209.20M	135.50M	107.50M	-22.80M	169.50M	125.40M	65.90M	68.90M	63.40M
Operating Income Ratio	7.34%	13.90%	14.40%	13.16%	12.20%	18.82%	18.19%	17.96%	17.61%	16.34%	17.74%	15.96%	17.52%	18.39%	20.08%	15.92%	15.43%	9.29%	11.74%	10.91%	8.75%	3.86%	3.44%	8.23%	1.21%	5.01%	0.99%	2.94%	7.53%	7.45%	6.27%	4.37%	3.58%	-0.75%	5.55%	5.66%	3.19%	3.31%	2.86%
Total Other Income/Expenses	-205.00M	146.00M	174.00M	13.00M	-444.00M	21.00M	-214.00M	84.00M	-171.00M	-236.00M	-87.00M	-148.00M	-99.20M	-89.50M	-72.50M	-308.20M	-36.50M	119.60M	-25.90M	-22.80M	-29.30M	28.60M	68.60M	-95.00M	2.20M	-2.90M	84.60M	42.00M	-30.30M	-42.20M	-37.00M	-12.80M	-24.30M	-22.40M	-26.70M	41.80M	20.60M	53.50M	-12.50M
Income Before Tax	1.22B	1.27B	2.28B	1.32B	1.82B	1.11B	908.00M	889.00M	884.00M	396.00M	795.00M	665.00M	841.90M	905.50M	876.40M	485.30M	667.50M	660.80M	380.80M	298.40M	180.00M	108.20M	131.70M	72.40M	38.50M	78.00M	103.70M	99.20M	274.40M	237.60M	193.50M	169.80M	125.00M	9.80M	189.90M	167.20M	86.50M	122.40M	60.70M
Income Before Tax Ratio	6.29%	7.46%	12.82%	7.27%	9.80%	16.37%	14.72%	15.08%	14.75%	10.19%	15.86%	13.01%	15.44%	16.71%	18.55%	9.70%	14.52%	15.57%	10.96%	9.94%	7.15%	5.25%	7.17%	3.70%	2.13%	4.47%	5.39%	5.09%	7.58%	6.90%	5.80%	5.48%	4.16%	0.32%	6.22%	7.55%	4.19%	5.89%	2.74%
Income Tax Expense	23.00M	212.00M	440.00M	234.00M	146.00M	160.00M	206.00M	261.00M	273.00M	109.00M	256.00M	203.00M	286.00M	306.80M	295.40M	172.90M	214.00M	190.90M	142.90M	96.20M	54.30M	37.90M	44.70M	51.00M	13.50M	28.10M	37.30M	34.90M	96.00M	83.10M	71.60M	58.70M	37.50M	-9.70M	59.20M	51.00M	21.10M	37.90M	1.10M
Net Income	1.23B	1.06B	1.85B	1.12B	1.64B	949.00M	699.00M	543.00M	324.00M	334.00M	535.00M	113.00M	30.60M	588.00M	561.60M	37.90M	444.20M	480.40M	237.90M	202.20M	132.80M	59.50M	82.60M	21.40M	18.00M	53.10M	133.00M	207.50M	178.40M	154.50M	111.80M	111.10M	75.20M	19.50M	130.70M	21.40M	65.40M	84.50M	59.60M
Net Income Ratio	6.32%	6.22%	10.36%	6.15%	8.87%	13.95%	11.33%	9.21%	5.41%	8.60%	10.67%	2.21%	0.56%	10.85%	11.89%	0.76%	9.66%	11.32%	6.85%	6.74%	5.27%	2.89%	4.50%	1.09%	1.00%	3.05%	6.91%	10.65%	4.93%	4.49%	3.35%	3.58%	2.50%	0.64%	4.28%	0.97%	3.17%	4.06%	2.69%
EPS	6.47	5.54	9.17	5.23	7.43	8.04	5.89	4.50	2.61	3.15	5.00	1.01	0.26	4.63	4.31	0.29	3.32	3.63	1.79	1.52	1.00	0.45	0.62	0.16	0.13	0.34	0.84	1.33	1.15	0.99	0.71	0.71	0.48	0.13	0.83	0.14	0.41	0.52	0.37
EPS Diluted	6.44	5.49	9.08	5.18	7.35	7.88	5.77	4.44	2.59	3.11	4.95	1.01	0.26	4.60	4.28	0.28	3.26	3.43	1.71	1.46	0.97	0.45	0.62	0.16	0.13	0.34	0.83	1.33	1.15	0.99	0.71	0.71	0.48	0.13	0.83	0.14	0.41	0.52	0.37
Weighted Avg Shares Out	189.60M	191.80M	201.30M	214.00M	221.20M	118.00M	118.60M	122.60M	123.80M	105.70M	106.10M	110.50M	114.20M	125.30M	129.00M	132.30M	133.90M	132.34M	132.90M	133.03M	132.80M	132.22M	131.80M	133.75M	149.00M	158.51M	158.33M	156.02M	155.81M	156.06M	158.58M	157.59M	156.67M	156.00M	158.42M	158.52M	159.51M	164.08M	161.08M
Weighted Avg Shares Out (Dil)	190.60M	193.50M	203.20M	215.90M	223.70M	120.50M	121.10M	124.30M	125.00M	106.80M	107.30M	111.20M	114.80M	126.30M	130.00M	133.20M	136.50M	140.06M	141.60M	138.49M	136.91M	132.22M	133.23M	133.75M	149.00M	158.51M	160.24M	156.02M	155.81M	156.06M	160.00M	157.59M	156.67M	156.00M	158.42M	158.52M	159.51M	164.08M	161.08M

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L3Harris' (LHX) second-quarter earnings top the Zacks Consensus Estimate, while revenues rise year over year. The company increases its 2024 earnings outlook.

L3Harris Technologies, Inc. (LHX) Q2 2024 Earnings Call Transcript

July 26, 2024seekingalpha.com

L3Harris Technologies, Inc. (NYSE:LHX ) Q2 2024 Earnings Conference Call July 26, 2024 8:30 AM ET Company Participants Daniel Gittsovich - VP, IR Christopher E. Kubasik - Chair and CEO Kenneth L.

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L3Harris (LHX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

July 25, 2024zacks.com

While the top- and bottom-line numbers for L3Harris (LHX) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates...

L3Harris (LHX) Q2 Earnings Surpass Estimates

July 25, 2024zacks.com

L3Harris (LHX) came out with quarterly earnings of $3.24 per share, beating the Zacks Consensus Estimate of $3.18 per share. This compares to earnings of $2.97 per share a year ago.

L3Harris raises 2024 outlook amid global tensions

July 25, 2024reuters.com

L3Harris raised its outlook for 2024 after beating Wall Street estimates for second-quarter profit on Thursday, betting on sustained weapons demand and robust defense spending amid escalating global security concerns.

L3Harris Technologies Reports Strong Second Quarter 2024 Results, Increases 2024 Guidance

July 25, 2024businesswire.com

MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) reported second quarter 2024 diluted EPS of $1.92, on second quarter revenue of $5.3 billion. Second quarter 2024 non-GAAP diluted EPS1 was $3.24, as compared to non-GAAP diluted EPS1 of $2.97 for the second...