Back to top

Image: Bigstock

Harris Corporation

Read MoreHide Full Article

Harris delivered solid second-quarter fiscal 2019 results with record earnings and high single digit revenue growth driven by strong margin expansion across all the segments. Moreover, both the top line and the bottom line surpassed the respective Zacks Consensus Estimate. Harris' revenue generating capabilities are buoyed by the possibility of greater military spending by the United States owing to tensions with North Korea and Iran. The merger with L3 Technologies will augment its market position offering it economies of scale. The deal will enable Harris to increase scale, strengthen core businesses and fortify position as a premier global defense technology company. Harris offered a bullish guidance for fiscal 2019. The stock has also outperformed the industry in the past year on average. However, increasing cost of operations is likely to contract the profitability of the company in the long term.

Published in