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L3Harris Technologies reports news on its defense technology portfolio serving space, air, land, sea and cyber missions for national security customers. Updates commonly cover orders, backlog, revenue trends and segment activity across communications, mission systems, propulsion, missiles, sensors, avionics and space systems.
Company announcements also include dividend actions, production-capacity investments, solid rocket motor expansion, space-mission contributions and partnerships involving satellite systems and Earth-observation data infrastructure. Capital-structure news has included financing and registration activity related to the Missile Solutions business, including operations associated with legacy Aerojet Rocketdyne.
L3Harris Technologies (NYSE: LHX) CEO Christopher E. Kubasik has issued an open letter to Department of Government Efficiency (DOGE) leaders Elon Musk and Vivek Ramaswamy, outlining recommendations to modernize America's national defense ecosystem. As the newly elected Chair of the Aerospace Industries Association, Kubasik proposed four key changes:
- Eliminating duplicative Cost Accounting Standard requirements
- Establishing a central contracting arm within the Office of the Secretary of Defense
- Requiring certified cost and pricing data only for major sole-source acquisitions
- Limiting contractor protests to three times per year
These recommendations aim to enhance the U.S. government's ability to secure borders and protect American interests globally.
L3Harris Technologies (NYSE: LHX) has announced its schedule for fourth quarter 2024 financial results release. The company will release its Q4 2024 results before market opens on Thursday, January 30, 2025. Following the release, L3Harris will host an earnings conference call at 10:30 a.m. ET on the same day.
Investors and interested parties can participate through the company's webcast at L3Harris.com or join via phone by dialing 800-549-8228 (U.S.) or +1 289-819-1520 (international). A recording of the call will be made available on the company's website starting at approximately 12 p.m. ET on January 30, 2025.
L3Harris Technologies (NYSE: LHX) has finalized the sale of Aerojet Ordnance Tennessee (A.O.T.) to BWX Technologies (NYSE: BWXT) for approximately $100 million. The transaction is part of L3Harris' multi-year portfolio optimization strategy aimed at enhancing value for customers and shareholders.
A.O.T., which employs fewer than 100 people in Tennessee, is the exclusive supplier of depleted uranium to the U.S. government and manufactures advanced specialized metal components for defense, aerospace, and commercial applications.
L3Harris Technologies has secured a $999 million indefinite delivery, indefinite quantity contract from the U.S. Navy. The five-year agreement involves delivering Multifunctional Information Distribution System Joint Tactical Radio System Terminals (MIDS JTRS) to U.S. and coalition forces. L3Harris, one of two providers of the MIDS JTRS solution, will supply software-defined Link 16 resilient communication radios for various platforms. The contract extends the company's 24-year history of providing communications interoperability solutions to U.S. armed services and 57 allied nations.
L3Harris Technologies has achieved Safety of Flight (SOF) qualification for its Viper Shield all-digital electronic warfare suite designed for F-16 fighter jets. The system successfully completed environmental and electrical tests, demonstrating its reliability under various flight conditions. The EW suite, which will be provided to six international partners, helps identify and counter threats while providing situational awareness in challenging environments. Deliveries are scheduled to begin in late 2025. The system is engineered to accommodate future capability upgrades to adapt to evolving electromagnetic spectrum environments.
BWX Technologies (BWXT) has agreed to acquire L3Harris' Aerojet Ordnance Tennessee (A.O.T.) business for approximately $100 million. A.O.T., which generated revenue of about $40 million in the trailing twelve months, is the sole provider of depleted uranium to the U.S. government and manufactures specialized materials including tungsten, molybdenum, and various alloys. The acquisition, expected to close by year-end, will enhance BWXT's capabilities in advanced materials manufacturing for commercial, military, and space applications. The deal is anticipated to be slightly accretive to BWXT's earnings within 12-18 months, excluding purchase accounting and one-time costs.
BWX Technologies (BWXT) has signed an agreement to acquire L3Harris' Aerojet Ordnance Tennessee (A.O.T.) business for approximately $100 million. A.O.T., which generated revenue of about $40 million in the trailing twelve months, is the sole provider of depleted uranium to the U.S. government and manufactures specialized materials including tungsten, molybdenum, and various alloys. The acquisition is expected to close by year-end and become slightly accretive to BWXT's earnings within 12-18 months, excluding purchase accounting and one-time costs. The business will operate within BWXT's government operations segment.
L3Harris Technologies (NYSE:LHX) announced its leadership participation in two upcoming investor conferences. Chair and CEO Christopher E. Kubasik and CFO Ken Bedingfield will present at Baird's Global Industrial Conference on November 12 at 10:50 a.m. ET in Chicago. Subsequently, L3Harris Aerojet Rocketdyne President Ross Niebergall and CFO Bedingfield will present at the UBS Global Industrials Conference on December 4 at 1 p.m. ET in Palm Beach, Florida. Both presentations will be streamed live on the L3Harris website, with recordings available afterward.
L3Harris Technologies (NYSE: LHX) reported strong Q3 2024 results with revenue of $5.3 billion, up 8% year-over-year, and 5% organic growth. The company achieved a book-to-bill ratio of 1.4x with orders of $7.2 billion. Diluted EPS increased 4% to $2.10, while non-GAAP diluted EPS rose 5% to $3.34.
The company increased its 2024 guidance, projecting revenue of $21.1B - $21.3B, adjusted segment operating margin of ~15.5%, and non-GAAP diluted EPS of $12.95 - $13.15. L3Harris also raised its cost savings target from $400 million to at least $600 million for 2024, expecting to reach the $1 billion target a year early.
L3Harris Technologies (NYSE: LHX) and Palantir Technologies (NYSE: PLTR) have announced a strategic partnership to advance technology development and accelerate L3Harris' digital transformation. The collaboration combines L3Harris' sensors and software-defined systems with Palantir's Artificial Intelligence Platform (AIP). The partnership includes collaboration on U.S. Army programs like TITAN, efforts aligned with the Army's Unified Network Strategy, and internal digital transformation initiatives at L3Harris. Recent integration of L3Harris' WESCAM MX-20 EO/IR system with Palantir's Sensor Inference Platform demonstrated improved target detection and reduced operator workload.