We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Will Segmental Revenues Aid L3Harris (LHX) Q1 Earnings?
Read MoreHide Full Article
L3Harris Technologies, Inc. (LHX - Free Report) is slated to report its first-quarter 2023 results on Apr 27 after market close.
L3Harris Technologies has a four-quarter earnings surprise of 0.54%, on average. The strong revenue performance across all its business segments may have contributed to its overall first-quarter top line. However, the inflated cost of materials and labor may have dented the bottom line.
Integrated Mission Systems to Post Revenue Growth
Increased revenues from the newly awarded programs, higher revenues from Virginia-class submarines and growth in undersea networked sensors are expected to have benefited this segment’s revenues in the first quarter of 2023.
The Zacks Consensus Estimate for Integrated Mission Systems’ first-quarter revenues, pegged at $1,740.1 million, suggests growth of 1.1% from the year-ago quarter’s reported figure.
Space and Airborne Systems to Boost Revenues
Increased volumes for the Space Development Agency’s Tranche 1 Tracking Layer satellite program, a ramp-up of classified programs and airborne businesses are likely to have added impetus to this unit’s revenues in the first quarter.
The Zacks Consensus Estimate for Space and Airborne Systems’ first-quarter revenues, pegged at $1,505.9 million, indicates an improvement of 3.9% from the year-ago quarter’s reported figure.
In the first quarter of 2023, LHX’s top line is likely to have benefited from the strong performance expected from the majority of its segments. This may have benefited the bottom line of the company in the first quarter.
However, inflated costs for materials and labor may have continued to impact the bottom line in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter sales is pegged at $4.24 billion, indicating growth of 3.4% from the prior-year reported figure.
The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.87 per share, suggesting a decrease of 8% from the prior-year reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for L3Harris Technologies this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
L3Harris Technologies has an Earnings ESP of -1.83% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are three defense players you may want to consider as these have the right combination of elements to post an earnings beat this season:
The Zacks Consensus Estimate for SPR’s first-quarter sales is pegged at $1.48 billion, indicating an improvement of 25.8% from the prior-year reported figure.
Embraer S.A. (ERJ - Free Report) has an Earnings ESP of +116.7% and a Zacks Rank #3.
Embraer has a four-quarter average earnings surprise of 105.32%. The Zacks Consensus Estimate for ERJ’s first-quarter sales implies an improvement of 16.7% from the prior-year reported figure.
Raytheon Technologies (RTX - Free Report) has an Earnings ESP of +0.18% and a Zacks Rank #3. The long-term earnings growth rate of RTX is 8.3%.
The Zacks Consensus Estimate for Raytheon’s first-quarter earnings, pegged at $1.11 per share, indicates a decline of 3.5% from the prior-year reported figure. The Zacks Consensus Estimate for RTX’s sales suggests a growth rate of 7.3% from the prior-year reported figure.
Image: Bigstock
Will Segmental Revenues Aid L3Harris (LHX) Q1 Earnings?
L3Harris Technologies, Inc. (LHX - Free Report) is slated to report its first-quarter 2023 results on Apr 27 after market close.
L3Harris Technologies has a four-quarter earnings surprise of 0.54%, on average. The strong revenue performance across all its business segments may have contributed to its overall first-quarter top line. However, the inflated cost of materials and labor may have dented the bottom line.
Integrated Mission Systems to Post Revenue Growth
Increased revenues from the newly awarded programs, higher revenues from Virginia-class submarines and growth in undersea networked sensors are expected to have benefited this segment’s revenues in the first quarter of 2023.
The Zacks Consensus Estimate for Integrated Mission Systems’ first-quarter revenues, pegged at $1,740.1 million, suggests growth of 1.1% from the year-ago quarter’s reported figure.
Space and Airborne Systems to Boost Revenues
Increased volumes for the Space Development Agency’s Tranche 1 Tracking Layer satellite program, a ramp-up of classified programs and airborne businesses are likely to have added impetus to this unit’s revenues in the first quarter.
The Zacks Consensus Estimate for Space and Airborne Systems’ first-quarter revenues, pegged at $1,505.9 million, indicates an improvement of 3.9% from the year-ago quarter’s reported figure.
L3Harris Technologies Inc Price and EPS Surprise
L3Harris Technologies Inc price-eps-surprise | L3Harris Technologies Inc Quote
First-Quarter Estimates
In the first quarter of 2023, LHX’s top line is likely to have benefited from the strong performance expected from the majority of its segments. This may have benefited the bottom line of the company in the first quarter.
However, inflated costs for materials and labor may have continued to impact the bottom line in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter sales is pegged at $4.24 billion, indicating growth of 3.4% from the prior-year reported figure.
The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.87 per share, suggesting a decrease of 8% from the prior-year reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for L3Harris Technologies this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
L3Harris Technologies has an Earnings ESP of -1.83% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are three defense players you may want to consider as these have the right combination of elements to post an earnings beat this season:
Spirit Aerosystems (SPR - Free Report) has an Earnings ESP of +16.58% and a Zacks Rank #3. Spirit Aerosystems delivered a four-quarter average negative earnings surprise of 157.65%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SPR’s first-quarter sales is pegged at $1.48 billion, indicating an improvement of 25.8% from the prior-year reported figure.
Embraer S.A. (ERJ - Free Report) has an Earnings ESP of +116.7% and a Zacks Rank #3.
Embraer has a four-quarter average earnings surprise of 105.32%. The Zacks Consensus Estimate for ERJ’s first-quarter sales implies an improvement of 16.7% from the prior-year reported figure.
Raytheon Technologies (RTX - Free Report) has an Earnings ESP of +0.18% and a Zacks Rank #3. The long-term earnings growth rate of RTX is 8.3%.
The Zacks Consensus Estimate for Raytheon’s first-quarter earnings, pegged at $1.11 per share, indicates a decline of 3.5% from the prior-year reported figure. The Zacks Consensus Estimate for RTX’s sales suggests a growth rate of 7.3% from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.