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Compared to Estimates, L3Harris (LHX) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, L3Harris (LHX - Free Report) reported revenue of $5.21 billion, up 16.6% over the same period last year. EPS came in at $3.06, compared to $2.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.11 billion, representing a surprise of +2.01%. The company delivered an EPS surprise of +5.88%, with the consensus EPS estimate being $2.89.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how L3Harris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Integrated Mission Systems: $1.67 billion versus $1.65 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.8% change.
Revenue- Space and Airborne Systems: $1.75 billion compared to the $1.70 billion average estimate based on five analysts. The reported number represents a change of +5.8% year over year.
Revenue- Corporate eliminations: -$45 million versus -$49.81 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.3% change.
Revenue- Aerojet Rocketdyne: $542 million versus the five-analyst average estimate of $571.84 million.
Revenue- Communication Systems: $1.29 billion versus $1.23 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.3% change.
Segment operating income- Aerojet Rocketdyne: $72 million compared to the $64.84 million average estimate based on five analysts.
Segment operating income- Communication Systems (CS): $310 million compared to the $292.03 million average estimate based on five analysts.
Segment operating income- Space and Airborne Systems (SAS): $216 million versus the five-analyst average estimate of $189.56 million.
Segment operating income- Integrated Mission System (IMS): $190 million compared to the $182.21 million average estimate based on five analysts.
Shares of L3Harris have returned -2.3% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, L3Harris (LHX) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, L3Harris (LHX - Free Report) reported revenue of $5.21 billion, up 16.6% over the same period last year. EPS came in at $3.06, compared to $2.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.11 billion, representing a surprise of +2.01%. The company delivered an EPS surprise of +5.88%, with the consensus EPS estimate being $2.89.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how L3Harris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Integrated Mission Systems: $1.67 billion versus $1.65 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.8% change.
- Revenue- Space and Airborne Systems: $1.75 billion compared to the $1.70 billion average estimate based on five analysts. The reported number represents a change of +5.8% year over year.
- Revenue- Corporate eliminations: -$45 million versus -$49.81 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.3% change.
- Revenue- Aerojet Rocketdyne: $542 million versus the five-analyst average estimate of $571.84 million.
- Revenue- Communication Systems: $1.29 billion versus $1.23 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.3% change.
- Segment operating income- Aerojet Rocketdyne: $72 million compared to the $64.84 million average estimate based on five analysts.
- Segment operating income- Communication Systems (CS): $310 million compared to the $292.03 million average estimate based on five analysts.
- Segment operating income- Space and Airborne Systems (SAS): $216 million versus the five-analyst average estimate of $189.56 million.
- Segment operating income- Integrated Mission System (IMS): $190 million compared to the $182.21 million average estimate based on five analysts.
View all Key Company Metrics for L3Harris here>>>Shares of L3Harris have returned -2.3% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.