L3Harris Technologies Inc Stock Price, News & Analysis

L3Harris Technologies has been selected by the U.S. Space Force to enhance its space domain awareness and counter anti-satellite threats. The project includes upgrading the Space Defense Operations Center to the new Advanced Tracking and Launch Analysis System (ATLAS). This modernization will improve tracking and analysis of space objects amid rising anti-satellite threats. L3Harris has over 30 years of partnership with the Space Force, contributing to space superiority with approximately $17 billion in annual revenue.

L3Harris Technologies (LHX) reported Q4 2021 revenue of $4.35 billion, a 7% decline from the previous year, with full-year revenue down 2% at $17.81 billion. Net income for Q4 surged 163% to $484 million, while full-year net income rose 70% to $1.84 billion. GAAP EPS for Q4 was $2.46, up 167%, and $9.09 for the year, up 75%. Non-GAAP EPS also increased to $3.30 for Q4 and $12.95 for the year. Despite supply chain challenges, the company has initiated guidance for 2022, forecasting revenue between $17.3 billion and $17.7 billion, with organic growth of 1-3%.

L3Harris Technologies has secured a 10-year, $750 million contract from the U.S. Marine Corps for multi-channel handheld and vehicular radio systems. The Falcon IV radios will enhance interoperability across U.S. defense branches and allies, contributing to Force Design 2030 and Joint All-Domain Command and Control (JADC2). These innovative radios provide secure communications against adversary threats, with flexible architecture for evolving needs. This continues L3Harris's successful collaboration with the Marines in delivering essential communication solutions.

L3Harris Technologies (NYSE:LHX) announces the appointment of Michelle Turner as the new Senior Vice President and Chief Financial Officer (CFO), effective immediately. Turner succeeds Jay Malave, who is leaving for other career opportunities. With extensive experience in finance, particularly in the defense industry, Turner previously held roles at Johnson & Johnson and Raytheon. As CFO, she will oversee financial strategies, accounting, internal audits, and investor relations, aiming to drive growth.

L3Harris Technologies (NYSE:LHX) will host a conference call on January 31, 2022, at 8:30 a.m. ET to discuss its fourth quarter 2021 financial results. Interested participants can dial in at 877-407-6184 for U.S. and 201-389-0877 for international callers. A webcast with supporting slides will also be available on L3Harris.com. A recording will be accessible from 12 p.m. ET on the same day.

L3Harris Technologies (NYSE:LHX) has reorganized its core businesses, reducing from four to three segments: Integrated Mission Systems, Space and Airborne Systems, and Communication Systems. This decision follows a successful portfolio shaping initiative started in 2019 aimed at high-growth, technology-driven sectors. The company emphasizes its commitment to delivering innovative defense solutions. L3Harris boasts approximately $18 billion in annual revenue and serves customers in over 100 countries.

L3Harris Technologies has successfully delivered its fourth Advanced Baseline Imager (ABI) for NOAA's GOES-R series, completing the satellite technology series designed for environmental monitoring. The ABI enhances weather observation, capturing images every five minutes, and can rapidly image events like hurricanes every 30 seconds. The GOES-U satellite, integrating this imager, is set to launch in 2024. Furthermore, L3Harris is developing next-generation weather imaging concepts for NOAA's GeoXO Program, expected to boost U.S. weather forecasting accuracy in the 2030s.

L3Harris Technologies (NYSE:LHX) has successfully completed the Critical Design Review (CDR) for the U.S. Missile Defense Agency’s Hypersonic and Ballistic Tracking Space Sensor (HBTSS) program. This milestone allows the company to meet cost, performance, and schedule requirements as they initiate satellite construction. The program aims to detect and track missile threats using advanced infrared sensors. With rising concerns over hypersonic threats from China and Russia, L3Harris is prioritizing investments in innovative satellite solutions.

L3Harris Technologies (NYSE:LHX) is actively mentoring 47 teams across 15 states to encourage students in robotics competitions, showcasing its commitment to STEM education. The initiative supports elementary, middle, and high school teams with guidance from L3Harris employees and financial backing from the L3Harris Foundation. This effort aims to enhance interest in STEM fields and nurture talent for future innovation. L3Harris has a history of involvement in student technology challenges, emphasizing philanthropy and employee engagement in community initiatives.