We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
See the Zacks Earnings Calendar to stay ahead of market-making news.
L3Harris has a four-quarter average earnings surprise of 3.31%. The strong top-line performance across all of the company’s business segments is likely to have boosted its earnings amid the adverse effects of high interest expenses.
LHX’s IMS Unit: A Mixed Bag
Higher sales volume from the maritime business is expected to have favored the Integrated Mission Systems (“IMS”) segment’s quarterly top line.
However, lower sales volume from the commercial aviation business may have partially impacted the IMS segment’s top-line performance.
The Zacks Consensus Estimate for IMS’ third-quarter revenues is currently pegged at $1,632.4 million, which indicates a rise of 4.1% from the year-ago quarter’s reported figure.
Strong sales growth volume from Space Systems as well as Intel & Cyber programs is likely to have added impetus to its Space and Airborne Systems (“SAS”) unit’s revenues.
The Zacks Consensus Estimate for the SAS segment’s revenues is pegged at $1,739.5 million, which indicates an improvement of 3.2% from the year-ago quarter’s reported number.
Higher sales volume from the Tactical Communication business, as well as that of Broadband Communications, is expected to have boosted the Communication Systems unit’s top-line performance.
The Zacks Consensus Estimate for this unit’s revenues is pegged at $1,353.3 million, which implies growth of 7.8% from the prior-year quarter’s reported actuals.
Q3 Estimates for LHX
With its major three segments reflecting solid growth expectations for revenues, we may expect LHX to report notable growth in its top line in the quarter to be reported. Also, positive synergies from the acquisition of Aerojet Rocketdyne may add impetus to LHX’s third-quarter results.
The Zacks Consensus Estimate for third-quarter sales is pegged at $5.30 billion, which indicates growth of 7.9% from the prior-year quarter’s reported figure.
Solid sales growth expectations must have benefited LHX’s bottom-line performance. Moreover, improved operating margins, driven by operational improvements, favorable program performance and the company’s cost reduction initiatives, are likely to have benefited its earnings.
However, higher interest expenses might have some adverse impacts on its overall earnings growth.
The consensus estimate for third-quarter earnings is pegged at $3.26 per share, which implies an increase of 2.2% from the year-ago quarter’s level.
What the Zacks Model Unveils for LHX
Our proven model predicts 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 the case here, as you will see below.
LHX’s Earnings ESP: L3Harris has an Earnings ESP of +1.19%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
LHX’s Zacks Rank: Currently, LHX carries a Zacks Rank #3.
Other Stocks to Consider
Here, we have mentioned the following players from the same sector that also have the right combination of elements to beat on earnings in the upcoming releases.
The Zacks Consensus Estimate for LMT’s third-quarter earnings is pegged at $6.47 per share. The Zacks Consensus Estimate for third-quarter sales is pegged at $17.28 billion, which implies a 2.4% increase from that reported in the prior-year quarter.
Northrop Grumman (NOC - Free Report) is slated to report its third-quarter 2024 results on Oct. 24 before market open. It has an Earnings ESP of +1.12% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for NOC’s third-quarter earnings stands at $6.06 per share. The Zacks Consensus Estimate for third-quarter sales is pegged at $10.23 billion, which implies a 4.7% increase from that reported in the prior-year quarter.
Curtiss-Wright Corp. (CW - Free Report) is set to report third-quarter earnings on Oct. 30 after market close. It has an Earnings ESP of +0.54% and sports a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $2.70 per share, indicating an improvement of 6.3% from the prior-year quarter’s reported actuals. The Zacks Consensus Estimate for sales is pegged at $757 million, which implies a 4.5% increase from the top line reported in the prior-year quarter.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Will Segment Sales Benefit L3Harris Technologies in Q3 Earnings?
L3Harris Technologies, Inc. (LHX - Free Report) is slated to report third-quarter 2024 results on Oct. 24 after market close.
See the Zacks Earnings Calendar to stay ahead of market-making news.
L3Harris has a four-quarter average earnings surprise of 3.31%. The strong top-line performance across all of the company’s business segments is likely to have boosted its earnings amid the adverse effects of high interest expenses.
LHX’s IMS Unit: A Mixed Bag
Higher sales volume from the maritime business is expected to have favored the Integrated Mission Systems (“IMS”) segment’s quarterly top line.
However, lower sales volume from the commercial aviation business may have partially impacted the IMS segment’s top-line performance.
The Zacks Consensus Estimate for IMS’ third-quarter revenues is currently pegged at $1,632.4 million, which indicates a rise of 4.1% 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
LHX’s Other Units to Boost Revenues
Strong sales growth volume from Space Systems as well as Intel & Cyber programs is likely to have added impetus to its Space and Airborne Systems (“SAS”) unit’s revenues.
The Zacks Consensus Estimate for the SAS segment’s revenues is pegged at $1,739.5 million, which indicates an improvement of 3.2% from the year-ago quarter’s reported number.
Higher sales volume from the Tactical Communication business, as well as that of Broadband Communications, is expected to have boosted the Communication Systems unit’s top-line performance.
The Zacks Consensus Estimate for this unit’s revenues is pegged at $1,353.3 million, which implies growth of 7.8% from the prior-year quarter’s reported actuals.
Q3 Estimates for LHX
With its major three segments reflecting solid growth expectations for revenues, we may expect LHX to report notable growth in its top line in the quarter to be reported. Also, positive synergies from the acquisition of Aerojet Rocketdyne may add impetus to LHX’s third-quarter results.
The Zacks Consensus Estimate for third-quarter sales is pegged at $5.30 billion, which indicates growth of 7.9% from the prior-year quarter’s reported figure.
Solid sales growth expectations must have benefited LHX’s bottom-line performance. Moreover, improved operating margins, driven by operational improvements, favorable program performance and the company’s cost reduction initiatives, are likely to have benefited its earnings.
However, higher interest expenses might have some adverse impacts on its overall earnings growth.
The consensus estimate for third-quarter earnings is pegged at $3.26 per share, which implies an increase of 2.2% from the year-ago quarter’s level.
What the Zacks Model Unveils for LHX
Our proven model predicts 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 the case here, as you will see below.
LHX’s Earnings ESP: L3Harris has an Earnings ESP of +1.19%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
LHX’s Zacks Rank: Currently, LHX carries a Zacks Rank #3.
Other Stocks to Consider
Here, we have mentioned the following players from the same sector that also have the right combination of elements to beat on earnings in the upcoming releases.
Lockheed Martin (LMT - Free Report) is set to report third-quarter earnings on Oct. 22 before market open. It has an Earnings ESP of +1.29% and carries a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for LMT’s third-quarter earnings is pegged at $6.47 per share. The Zacks Consensus Estimate for third-quarter sales is pegged at $17.28 billion, which implies a 2.4% increase from that reported in the prior-year quarter.
Northrop Grumman (NOC - Free Report) is slated to report its third-quarter 2024 results on Oct. 24 before market open. It has an Earnings ESP of +1.12% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for NOC’s third-quarter earnings stands at $6.06 per share. The Zacks Consensus Estimate for third-quarter sales is pegged at $10.23 billion, which implies a 4.7% increase from that reported in the prior-year quarter.
Curtiss-Wright Corp. (CW - Free Report) is set to report third-quarter earnings on Oct. 30 after market close. It has an Earnings ESP of +0.54% and sports a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $2.70 per share, indicating an improvement of 6.3% from the prior-year quarter’s reported actuals. The Zacks Consensus Estimate for sales is pegged at $757 million, which implies a 4.5% increase from the top line reported in the prior-year quarter.