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LHX Q1 EPS from continuing operations was $2.72, beating the $2.53 consensus by 7.5%.
Q1 revenues rose 11.9% to $5.74B, beating the $5.43B consensus; gains came across all segments.
LHX raised 2026 EPS guidance to $11.40-$11.60 and reaffirmed revenue view of $23-$23.5B.
L3Harris Technologies, Inc. (LHX - Free Report) reported first-quarter 2026 earnings (from continuing operations) of $2.72 per share, which beat the Zacks Consensus Estimate of $2.53 by 7.5%. The bottom line also increased 12.9% from the year-ago quarter’s $2.41.
LHX’s Total Revenues
L3Harris’ revenues totaled $5.74 billion, which topped the Zacks Consensus Estimate of $5.43 billion by 5.9%. The top line also improved 11.9% from the year-ago quarter’s $5.13 billion.
The year-over-year increase in the top line was driven by growth across all segments, reflecting new program ramp-up and increased international volume.
L3Harris Technologies Inc Price, Consensus and EPS Surprise
Space and Mission Systems: Net revenues from the segment were $2.99 billion, reflecting a year-over-year improvement of 24%.
The segment’s operating income improved to $313 million from $238 million in the year-ago quarter. The operating margin increased 60 bps to 10.5%, driven by improved program performance.
Communication and Spectrum Dominance: Net revenues from this segment rose 3% to $1.86 billion.
The unit’s operating income improved to $465 million from $443 million in the year-ago quarter. The operating margin increased 60 bps to 25.1%, driven by increased sales associated with higher margin products in night vision devices and software-defined resilient communications, as well as the favorable settlement of a legal matter.
Missile Solutions: This segment reported revenues of $990 million, which improved 18% year over year.
The unit’s operating income of $124 million increased from $96 million in the first quarter of 2025. The operating margin jumped 110 bps to 12.5%, primarily due to the monetization of legacy assets aligned with its transformation and value creation priorities.
Financial Position of LHX
As of April 3, 2026, L3Harris had $0.59 billion in cash and cash equivalents compared with $1.07 billion as of Jan. 2, 2026.
The long-term debt as of the same date was $9.19 billion compared with $10.44 billion as of Jan. 2, 2026.
The net cash used in operating activities was $95 million during the first three months of 2026 compared with $42 million in the prior-year period.
LHX’s 2026 Guidance
It expects to generate approximately $23-23.5 billion in revenues. The Zacks Consensus Estimate for 2026 revenues is pegged at $23.45 billion, which is at the higher end of the company’s guided range.
L3Harris now expects earnings to be in the range of $11.40-$11.60 per share compared with the prior range of $11.30-$11.50. The Zacks Consensus for 2026 earnings is pegged at $11.53 per share, which is higher than the midpoint of the company’s guided range.
It expects adjusted free cash flow to be around $3 billion.
Lockheed Martin Corporation (LMT - Free Report) reported first-quarter 2026 adjusted earnings of $6.44 per share, which missed the Zacks Consensus Estimate of $6.67 by 3.5%. The bottom line increased 11.5% from the year-ago quarter's reported figure of $2.22.
Net sales were $18.02 billion, which lagged the Zacks Consensus Estimate of $18.12 billion by 0.6%. The top line inched up 0.3% from $17.96 billion reported in the year-ago quarter.
Northrop Grumman Corporation (NOC - Free Report) reported first-quarter 2026 adjusted earnings of $6.14 per share, which beat the Zacks Consensus Estimate of $6.08 by 1%. The bottom line also improved 1.3% from the year-ago quarter’s level of $6.06.
NOC’s total sales of $9.88 billion in the first quarter outpaced the Zacks Consensus Estimate of $9.79 billion by 1%. The top line also rose 4.4% from $9.47 billion reported in the year-ago quarter.
RTX Corporation’s (RTX - Free Report) first-quarter 2026 adjusted earnings per share of $1.78 beat the Zacks Consensus Estimate of $1.52 by 17%. The bottom line improved 21.1% from the year-ago quarter’s level of $1.47.
Quarterly revenues came in at $22.08 billion, up 8.7% from $20.31 billion in the year-ago period. Sales also beat the consensus mark of $21.56 billion by 2.43%.
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L3Harris Q1 Earnings and Revenues Beat Estimates, '26 EPS View Raised
Key Takeaways
L3Harris Technologies, Inc. (LHX - Free Report) reported first-quarter 2026 earnings (from continuing operations) of $2.72 per share, which beat the Zacks Consensus Estimate of $2.53 by 7.5%. The bottom line also increased 12.9% from the year-ago quarter’s $2.41.
LHX’s Total Revenues
L3Harris’ revenues totaled $5.74 billion, which topped the Zacks Consensus Estimate of $5.43 billion by 5.9%. The top line also improved 11.9% from the year-ago quarter’s $5.13 billion.
The year-over-year increase in the top line was driven by growth across all segments, reflecting new program ramp-up and increased international volume.
L3Harris Technologies Inc Price, Consensus and EPS Surprise
L3Harris Technologies Inc price-consensus-eps-surprise-chart | L3Harris Technologies Inc Quote
LHX’s Segmental Performance
Space and Mission Systems: Net revenues from the segment were $2.99 billion, reflecting a year-over-year improvement of 24%.
The segment’s operating income improved to $313 million from $238 million in the year-ago quarter. The operating margin increased 60 bps to 10.5%, driven by improved program performance.
Communication and Spectrum Dominance: Net revenues from this segment rose 3% to $1.86 billion.
The unit’s operating income improved to $465 million from $443 million in the year-ago quarter. The operating margin increased 60 bps to 25.1%, driven by increased sales associated with higher margin products in night vision devices and software-defined resilient communications, as well as the favorable settlement of a legal matter.
Missile Solutions: This segment reported revenues of $990 million, which improved 18% year over year.
The unit’s operating income of $124 million increased from $96 million in the first quarter of 2025. The operating margin jumped 110 bps to 12.5%, primarily due to the monetization of legacy assets aligned with its transformation and value creation priorities.
Financial Position of LHX
As of April 3, 2026, L3Harris had $0.59 billion in cash and cash equivalents compared with $1.07 billion as of Jan. 2, 2026.
The long-term debt as of the same date was $9.19 billion compared with $10.44 billion as of Jan. 2, 2026.
The net cash used in operating activities was $95 million during the first three months of 2026 compared with $42 million in the prior-year period.
LHX’s 2026 Guidance
It expects to generate approximately $23-23.5 billion in revenues. The Zacks Consensus Estimate for 2026 revenues is pegged at $23.45 billion, which is at the higher end of the company’s guided range.
L3Harris now expects earnings to be in the range of $11.40-$11.60 per share compared with the prior range of $11.30-$11.50. The Zacks Consensus for 2026 earnings is pegged at $11.53 per share, which is higher than the midpoint of the company’s guided range.
It expects adjusted free cash flow to be around $3 billion.
LHX’s Zacks Rank
L3Harris currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Lockheed Martin Corporation (LMT - Free Report) reported first-quarter 2026 adjusted earnings of $6.44 per share, which missed the Zacks Consensus Estimate of $6.67 by 3.5%. The bottom line increased 11.5% from the year-ago quarter's reported figure of $2.22.
Net sales were $18.02 billion, which lagged the Zacks Consensus Estimate of $18.12 billion by 0.6%. The top line inched up 0.3% from $17.96 billion reported in the year-ago quarter.
Northrop Grumman Corporation (NOC - Free Report) reported first-quarter 2026 adjusted earnings of $6.14 per share, which beat the Zacks Consensus Estimate of $6.08 by 1%. The bottom line also improved 1.3% from the year-ago quarter’s level of $6.06.
NOC’s total sales of $9.88 billion in the first quarter outpaced the Zacks Consensus Estimate of $9.79 billion by 1%. The top line also rose 4.4% from $9.47 billion reported in the year-ago quarter.
RTX Corporation’s (RTX - Free Report) first-quarter 2026 adjusted earnings per share of $1.78 beat the Zacks Consensus Estimate of $1.52 by 17%. The bottom line improved 21.1% from the year-ago quarter’s level of $1.47.
Quarterly revenues came in at $22.08 billion, up 8.7% from $20.31 billion in the year-ago period. Sales also beat the consensus mark of $21.56 billion by 2.43%.