L3Harris Technologies First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

L3Harris Technologies (NYSE:LHX) First Quarter 2024 Results

Key Financial Results

• Revenue: US$5.21b (up 17% from 1Q 2023).
• Net income: US$283.0m (down 16% from 1Q 2023).
• Profit margin: 5.4% (down from 7.5% in 1Q 2023).
• EPS: US$1.49 (down from US$1.77 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

L3Harris Technologies Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Aerospace & Defense industry in the US.

Performance of the American Aerospace & Defense industry.

The company's shares are up 4.4% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for L3Harris Technologies (1 is potentially serious!) that you need to take into consideration.

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