LHX

Artisan Partners, an investment management company, released its second-quarter 2026 investor commentary for the "Artisan Global Opportunities Strategy". The letter can be downloaded here. Global equities rebounded sharply during the quarter, with the MSCI ACWI Index returning 15.3% as resilient economic growth, strong corporate earnings, and continued enthusiasm around artificial intelligence supported markets despite persistent inflation, higher bond yields, and geopolitical uncertainty. The portfolio reported strong absolute returns of 12.65% (net) but underperformed the benchmark, mainly because of its underweight exposure to information technology and overweight position in health care. Strong stock selection in technology and energy partially offset these headwinds. The fund continues to see attractive long-term opportunities across AI infrastructure, health care and consumer internet, while remaining disciplined on valuation as several AI-related stocks have appreciated sharply. Management remains focused on durable franchises with identifiable profit cycles and attractive long-term earnings potential. Also, check the Strategy’s top five holdings to see its best picks in 2026. In its second-quarter 2026 investor letter, Artisan Global Opportunities Fund highlighted L3Harris Technologies, Inc. (NYSE:LHX). L3Harris Technologies, Inc. (NYSE:LHX) provides mission-critical solutions for government and commercial customers worldwide. On September 01, 2026, L3Harris Technologies, Inc. (NYSE:LHX) closed at $263.56 per share. Over the past month, L3Harris Technologies, Inc. (NYSE:LHX) declined 8.44%, and its shares lost 4.08% over the past 52 weeks. L3Harris Technologies, Inc. (NYSE:LHX) has a market capitalization of $48.76 billion. Artisan Global Opportunities Fund stated the following regarding L3Harris Technologies, Inc. (NYSE:LHX) in its Q2 2026 investor letter: L3Harris Technologies, Inc. (NYSE:LHX) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held L3Harris Technologies, Inc. (NYSE:LHX) at the end of the second quarter which was 59 in the previous quarter. While we acknowledge the potential of L3Harris Technologies, Inc. (NYSE:LHX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered L3Harris Technologies, Inc. (NYSE:LHX) and shared Sycamore Mid Cap Value Equity Strategy's insights on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years. Disclosure: None. This article is originally published at Insider Monkey.

A month has gone by since the last earnings report for L3Harris (LHX). Shares have lost about 3.7% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is L3Harris due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. L3Harris Q2 Earnings and Revenues Beat Estimates, 2026 Outlook RaisedL3Harris Technologies, Inc. reported second-quarter 2026 earnings (from continuing operations) of $3.13 per share, which outpaced the Zacks Consensus Estimate of $2.80 by 11.8%. The bottom line also increased 12.6% from the year-ago quarter’s $2.78. L3Harris’ revenues totaled $5.88 billion, which topped the Zacks Consensus Estimate of $5.79 billion by 1.5%. The top line also improved 8.4% from the year-ago quarter’s $5.43 billion.The year-over-year increase in the top line was driven by growth across all segments, reflecting new program ramp-up and strong execution against a record backlog. Space & Mission Systems revenues increased 7% to $2.97 billion. The segment’s operating income edged up to $290 million from $289 million.The operating margin declined 60 basis points to 9.8%. Improved program execution and a $23 million net gain from segment investments were outweighed by the absence of a $75 million asset-sale gain recognized in the prior-year quarter.Communications & Spectrum Dominance revenues advanced 4% to $1.94 billion. Segment operating income climbed 14% to $522 million.The operating margin expanded 230 basis points to 26.9%. Higher international volumes and a $16 million net segment investment gain supported profitability. Missile Solutions revenues rose 14% to $1.05 billion. Operating income increased to $130 million from $116 million. However, the operating margin contracted 20 basis points to 12.3% because the year-ago quarter included a favorable contract resolution. As of July 3, 2026, L3Harris had $1.52 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 $9.18 billion compared with $10.44 billion as of Jan. 2, 2026.The net cash provided by operating activities was $784 million during the first six months of 2026 compared with $598 million in the prior-year period. L3Harris raised its 2026 revenue outlook to $23.2-$23.7 billion from $23-$23.5 billion. The Zacks Consensus Estimate for 2026 revenues is pegged at $23.55 billion, which is higher than the midpoint of the company’s guided range.LHX now expects earnings of $11.80-$12 per share, up from its previous projection of $11.40-$11.60. The Zacks Consensus for 2026 earnings is pegged at $11.54 per share, which is lower than the company’s guided range.It continues to anticipate adjusted free cash flow of $3 billion and $3.6 billion in operating cash flow.Space & Mission Systems revenues are projected at nearly $11.7 billion, above the prior estimate of $11.5 billion. Communications & Spectrum Dominance revenues are expected to be about $8 billion, while Missile Solutions revenues are forecast at roughly $4.1 billion. In the past month, investors have witnessed a flat trend in estimates revision. Currently, L3Harris has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a score of B on the value side, putting it in the top 40% for value investors. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. L3Harris has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report L3Harris Technologies Inc (LHX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Motorola Solutions, Inc. MSI delivered a 13% year-over-year increase in second-quarter sales and raised its 2026 revenue and earnings outlook again. Record orders lifted backlog to $15.6 billion, while demand across mission-critical communications, software and public-safety technology supported the stronger second-half outlook.The earnings update also highlights the factors that could shape the next phase of growth: backlog conversion, acquisition integration, margin performance and elevated supply-chain costs. Motorola Solutions, Inc. price-consensus-eps-surprise-chart | Motorola Solutions, Inc. Quote Motorola now expects 2026 revenues of approximately $12.98 billion, up from its prior outlook of $12.8 billion. Non-GAAP EPS guidance was raised to $17.62-$17.72 from $16.87-$16.99. Management said the higher outlook reflects continued strength in Mission Critical Networks, including stronger expectations for Silvus, and sustained demand for public-safety land mobile radio solutions.For the third quarter, Motorola expects revenues to grow approximately 8% year over year and non-GAAP EPS to range from $4.39 to $4.44. The company also expects operating margin expansion of approximately 170 basis points for 2026.Motorola Delivers Broad-Based Q2 GrowthProducts and Systems Integration revenue increased 15% year over year to $1.91 billion, while Software and Services revenue rose 10% to $1.23 billion. Growth extended across Mission Critical Networks, Video Security and Access Control and Command Center offerings.Non-GAAP EPS increased 24% to $4.41, while non-GAAP operating margin expanded to 32.9%. Excluding a $60 million benefit from IEEPA tariff refunds, operating margin still expanded 140 basis points despite elevated direct material and memory costs. Second-quarter backlog reached a record $15.6 billion, up 11% year over year following record orders. Software and Services backlog increased $1.2 billion, while Products and Systems Integration backlog rose $329 million. The backlog provides visibility into future sales and supports management’s approximately 8% third-quarter revenue-growth outlook.Motorola generated $469 million in operating cash flow and $414 million in free cash flow during the quarter. Higher earnings drove the increase, partly offset by greater investment in inventory Motorola agreed to acquire D-Fend Solutions for $1.5 billion, adding counter-drone technology to its safety and security portfolio. Silvus adds adaptive networking, while Hyper and Exacom expand emergency response and cloud-native recording capabilities. The planned Bell Canada LMR network services acquisition is expected to broaden managed-services reach.Motorola is also expanding AI-enabled public-safety capabilities through Assist, Interpreter Agent and Live Audio Streaming. Interpreter Agent enables real-time language translation, while Live Audio Streaming provides live calls, AI-generated summaries and transcriptions.For industry context, Axon Enterprise, Inc. AXON is another public-safety technology company with exposure to connected devices and software, while L3Harris Technologies, Inc. LHX has exposure to mission-critical communications and government customers. These two tickers provide relevant peer context for investors assessing the broader public-safety technology theme. Motorola Solutions currently carries a Zacks Rank #2 (Buy), while its Growth Score is C and VGM Score is D. Its Value Score and Momentum Score are also D. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Rank is designed to capture near-term earnings-related signals, while the Zacks Style Scores provide additional context on value, growth and momentum characteristics. The combination gives MSI a favorable earnings-revision signal but less support from the broader Style Score framework.The earnings update strengthens the growth narrative, but the investment case still depends on execution. Backlog conversion, acquisition integration, supply-chain costs and the pace of third-quarter growth will be important indicators for investors evaluating whether the latest guidance increase can translate into sustained results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report Axon Enterprise, Inc (AXON) : Free Stock Analysis Report L3Harris Technologies Inc (LHX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in L3Harris Technologies Inc? Here are five stocks we like better. L3Harris reported strong Q2 results: Revenue rose 8% to $5.9 billion, GAAP EPS increased 28% to $3.13, and free cash flow climbed 37% to $771 million. Orders totaled $7.3 billion, lifting backlog above $42 billion. The company raised its 2026 outlook for revenue to $23.2 billion–$23.7 billion and diluted EPS to $11.80–$12.00, while maintaining its $3 billion free-cash-flow target. Strong Space & Mission Systems performance and international sales were key drivers. L3Harris is investing heavily in missile production, including a $2 billion capacity expansion and agreements tied to THAAD and PAC-3 production, but delayed a potential missile-business IPO until mid-2027 because market conditions do not reflect its expected value. After 15% L3Harris Price Drop, Is It Time to Buy or Time to Fly? L3Harris Technologies (NYSE:LHX) reported higher second-quarter revenue, earnings and cash flow, citing broad-based growth across its three business segments and increased international sales. The defense contractor also raised its full-year 2026 revenue and earnings-per-share outlook while maintaining its free-cash-flow forecast. Chief Financial Officer Ken Sharp said quarterly revenue totaled $5.9 billion, up $455 million, or 8%, from a year earlier. Orders were $7.3 billion, resulting in a 1.2-times book-to-bill ratio, while trailing-12-month book-to-bill was 1.3 times. Backlog increased by more than $1 billion to $42 billion. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Why This Defense ETF Could Keep Rallying as the Iran Conflict Escalates International sales rose $254 million, or more than 20%, during the quarter. International business represented 23% of total revenue, an increase of about 250 basis points from the prior year, Sharp said. GAAP earnings per share were $3.13, up 28% year over year. Segment operating income increased 9% to reflect revenue growth, improved program performance and a net gain on segment investments, partly offset by higher research-and-development spending. Segment operating margin was 16%, up 10 basis points. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Gold, Copper, and Missiles: 3 Big Dividend Raises After a Breakout Year Operating cash flow was $879 million and free cash flow was $771 million, each up 37% from the prior-year period. Year-to-date free cash flow reached $584 million, $124 million ahead of the comparable 2025 period. Sharp said L3Harris raised its full-year revenue outlook to a range of $23.2 billion to $23.7 billion, representing organic growth of 8% to 10%. Both the high and low ends of the prior range were increased by $200 million. The company attributed the revenue increase primarily to stronger Space & Mission Systems performance and its AMDT-3 satellite constellation win with the U.S. Space Force. → AMD’s AI Bubble Could Burst Into Explosive Upside The company now expects diluted earnings per share of $11.80 to $12.00, an increase of $0.40 at both ends of its prior range. The updated outlook includes an approximately $0.20 per-share headwind from the planned divestiture of a majority interest in its commercial space propulsion business, which the company expects to close in August. L3Harris maintained its forecast for segment operating margin in the low 16% range and reaffirmed its full-year free-cash-flow target of $3 billion. It also reduced expected net interest expense by $30 million to approximately $560 million, reflecting a higher cash balance. Space & Mission Systems revenue guidance was increased by $200 million to $11.7 billion. Communications & Spectrum Dominance margin guidance was raised to the mid-25% range from approximately 25%. Missile Solutions guidance was adjusted to account for the commercial space propulsion transaction. Space & Mission Systems revenue grew 7% to about $3 billion, supported by higher volume in intelligence, surveillance and reconnaissance; missionized aircraft; classified space; F-35 control systems; and air-traffic-control modernization. Segment operating margin declined 60 basis points to 9.8%, largely because the prior-year quarter included a $75 million gain on a product-line sale that did not recur. Communications & Spectrum Dominance generated revenue of $1.9 billion, up 4%, as international volume, electronic warfare and data-links revenue increased. Its operating margin rose 230 basis points to 26.9%, driven by stronger international revenue, partly offset by increased R&D investment. Missile Solutions revenue increased 14% year over year. Revenue in the operations L3Harris plans to retain rose 16%, partially offset by slower growth in the commercial space propulsion business being divested. Segment operating margin was substantially unchanged from a year earlier. Chief Executive Officer Chris Kubasik said the company sees a $9 billion multi-year pipeline across missile warning, missile defense and classified space missions. Since the fourth quarter, L3Harris has secured $2.4 billion in new space-related contracts, he said. Kubasik highlighted investments in missile production capacity following the Aerojet acquisition and subsequent formation of the Missile Solutions business. He said deliveries are up more than 60% since the acquisition, substantially all delinquent deliveries have been eliminated, and operational efficiency has improved 22%. The company has committed $2 billion for missile capacity, including facilities, equipment and supply-chain investments. It is expanding production capacity by nearly 1 million square feet and expects its new automated GMLRS facility to begin operating next month. Kubasik said the site is designed to more than double capacity and reduce manufacturing time by 50%. Shortly after the quarter ended, L3Harris signed a seven-year framework agreement for THAAD and PAC-3 production that represents about $12 billion in future production revenue and $2 billion in future profit, according to Kubasik. He said the company is working with Lockheed Martin to quadruple THAAD production and nearly triple PAC-3 production. Sharp said the Missile Solutions business is expected to grow in the high teens for at least the next several years, with the propulsion business projected to grow more than 20%. L3Harris is negotiating more than $20 billion in new missile contracts, Kubasik said, which could potentially triple missile backlog. However, the company has postponed a potential initial public offering of its missile business until mid-2027. Kubasik said current market conditions do not reflect the value L3Harris believes it is building, while much of the cash that would have been needed from an IPO is not expected to be required until late 2027 through 2029. With expected divestiture proceeds, current cash and forecast free cash flow, Sharp said L3Harris expects to have about $4 billion of cash on hand before potential debt reduction or additional share repurchases. The company said its priorities include investing in its businesses, considering tuck-in assets, reducing debt and returning capital to shareholders. L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications. The company's offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "L3Harris Technologies Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Revenue: $5.9 billion, up 8% year over year. Segment Operating Income: Increased $79 million or 9%. Segment Operating Margin: 16%, up 10 basis points. GAAP Earnings Per Share (EPS): $3.13, up 28%. Operating Cash Flow: $879 million. Free Cash Flow: $771 million, up 37%. Orders: $7.3 billion, with a book-to-bill of 1.2 times. Backlog: Increased by more than $1 billion to $42 billion. International Sales: Increased $254 million, up over 20%. Space and Mission Systems Revenue: $3 billion, up 7%. Space and Mission Systems Segment Operating Margin: 9.8%, down 60 basis points. Communication and Spectrum Dominance Revenue: $1.9 billion, up 4%. Communication and Spectrum Dominance Segment Operating Margin: 26.9%, up 230 basis points. Missile Solutions Revenue: Up 14% year over year. Full-Year 2026 Revenue Guidance: $23.2 billion to $23.7 billion. Full-Year 2026 Diluted EPS Guidance: $11.80 to $12.00. Full-Year 2026 Free Cash Flow Guidance: $3 billion. Warning! GuruFocus has detected 5 Warning Signs with LHX. Is LHX fairly valued? Test your thesis with our free DCF calculator. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue grew 8% year-over-year to $5.9 billion, with broad-based growth across all three segments. Orders reached $7.3 billion, yielding a book-to-bill of 1.2x, and backlog increased by over $1 billion to $42 billion. Missile Solutions revenue grew 14% year-over-year, with deliveries up over 60% and operational efficiency improved by 22%. The company secured a $12 billion framework agreement for FAD and factory production over seven years, demonstrating strong demand. Free cash flow increased 37% to $771 million, and full-year 2026 revenue and EPS guidance were raised. The IPO for the missile business was delayed to mid-2027 due to unfavorable market conditions. Segment operating margin for Space and Mission Systems decreased 60 basis points due to a prior-year product line sale gain not repeating. The divestiture of the commercial space propulsion business is expected to create an approximate $0.20 EPS headwind. Higher research and development costs partially offset segment operating income growth. The company faces uncertainty from potential budget debates, continuing resolutions, and geopolitical headwinds. Q: Can you provide the puts and takes behind the decision to push the missile business IPO to mid-2027?A: (Christopher E. Kubasik, Vice Chair & CEO) Market conditions do not reflect the value we are building. Recent IPOs are missing key elements of a successful business, and the market is adjusting valuations. We are caught in that process. We will let things settle down and reevaluate. The majority of the cash needed from the IPO starts to hit in late '27, '28, and '29, making this a prudent business decision. The team unanimously agrees to focus on the business and wait for the market to recover. Q: How should we think about growth for the missile segment from here, especially with the new framework agreement and CapEx buildout?A: (Kenneth Sharp, CFO) We expect growth in the high teens over the next couple of years, at a minimum, for the foreseeable future. We have significant demand stacking up, with $20 billion of backlog under negotiation that could triple our current backlog. As new factories come online in the '27, '28, '29 timeline, revenue will accelerate even faster. The propulsion business specifically is growing around 20%-plus. Q: What is the expected margin on the new seven-year framework agreement for missile production?A: (Christopher E. Kubasik, Vice Chair & CEO) We are thinking something in the 15% to 18% range is something to strive for, especially as we ramp up with volume and line up the supply chain with longer-term agreements. Q: Can you provide an update on the strategic partnership with Shield Capital and how it has evolved?A: (Christopher E. Kubasik, Vice Chair & CEO) We were the first movers into this concept. The goals were to pull through new dual-use technology into our products, accelerate R&D, and create shareholder value through investment gains. We are in two of their funds, each with about a $50 million commitment. Fund I is 70%-80% drawn, and Fund II is 10%-20% drawn. It helps with our culture of speed, allowing us to make decisions in hours or days. Q: What is your appetite for share buybacks given the significant cash on the balance sheet and political pressures?A: (Kenneth Sharp, CFO) Our goal is to be disciplined capital allocators. Our first focus is investing in the business, including the $2 billion of commitments for missile capacity. Second is debt paydown, as we have about $1.8 billion coming due. Share repurchases are also important to consider, along with maintaining our 24-year dividend growth streak. The $4 billion of excess cash gives us significant flexibility. Q: How do you see the defense budget impacting L3Harris's outlook?A: (Christopher E. Kubasik, Vice Chair & CEO) We are on a wartime footing, so I would expect the highest defense budget in our country's history and a supplemental budget to fund multiyear munition contracts. Our outlook is positive regardless of the final budget, as we have strong market-leading positions and are successfully penetrating new markets. Q: What drove the strong revenue growth in the quarter, and how is international business performing?A: (Kenneth Sharp, CFO) Revenue was $5.9 billion, up 8% year-over-year, with broad-based growth across all three segments. International sales increased $254 million, up over 20%, and the international sales mix increased by about 250 basis points to 23% of total revenue. Q: What is the status of the new GMLRS factory and its impact on production?A: (Christopher E. Kubasik, Vice Chair & CEO) The new GMLRS factory, named the Arsenal of Freedom Building, is coming online next month. It is highly automated with robotics and AI, which will allow us to more than double capacity while reducing manufacturing times by 50%. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

L3Harris Technologies, Inc. LHX reported second-quarter 2026 earnings (from continuing operations) of $3.13 per share, which outpaced the Zacks Consensus Estimate of $2.80 by 11.8%. The bottom line also increased 12.6% from the year-ago quarter’s $2.78. L3Harris’ revenues totaled $5.88 billion, which topped the Zacks Consensus Estimate of $5.79 billion by 1.5%. The top line also improved 8.4% from the year-ago quarter’s $5.43 billion.The year-over-year increase in the top line was driven by growth across all segments, reflecting new program ramp-up and strong execution against a record backlog. L3Harris Technologies Inc price-consensus-eps-surprise-chart | L3Harris Technologies Inc Quote Space & Mission Systems revenues increased 7% to $2.97 billion. The segment’s operating income edged up to $290 million from $289 million.The operating margin declined 60 basis points to 9.8%. Improved program execution and a $23 million net gain from segment investments were outweighed by the absence of a $75 million asset-sale gain recognized in the prior-year quarter.Communications & Spectrum Dominance revenues advanced 4% to $1.94 billion. Segment operating income climbed 14% to $522 million.The operating margin expanded 230 basis points to 26.9%. Higher international volumes and a $16 million net segment investment gain supported profitability. Missile Solutions revenues rose 14% to $1.05 billion. Operating income increased to $130 million from $116 million. However, the operating margin contracted 20 basis points to 12.3% because the year-ago quarter included a favorable contract resolution. As of July 3, 2026, L3Harris had $1.52 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 $9.18 billion compared with $10.44 billion as of Jan. 2, 2026.The net cash provided by operating activities was $784 million during the first six months of 2026 compared with $598 million in the prior-year period. L3Harris raised its 2026 revenue outlook to $23.2-$23.7 billion from $23-$23.5 billion. The Zacks Consensus Estimate for 2026 revenues is pegged at $23.55 billion, which is higher than the midpoint of the company’s guided range.LHX now expects earnings of $11.80-$12 per share, up from its previous projection of $11.40-$11.60. The Zacks Consensus for 2026 earnings is pegged at $11.54 per share, which is lower than the company’s guided range.It continues to anticipate adjusted free cash flow of $3 billion and $3.6 billion in operating cash flow.Space & Mission Systems revenues are projected at nearly $11.7 billion, above the prior estimate of $11.5 billion. Communications & Spectrum Dominance revenues are expected to be about $8 billion, while Missile Solutions revenues are forecast at roughly $4.1 billion. L3Harris currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Northrop Grumman Corporation NOC reported second-quarter 2026 adjusted earnings of $7.68 per share, which beat the Zacks Consensus Estimate of $6.84 by 12.3%. The bottom line, however, declined 5.8% from the year-ago quarter’s level of $8.15.NOC’s total sales of $10.88 billion in the second quarter outperformed the Zacks Consensus Estimate of $10.80 billion by 0.7%. The top line also improved 5.1% from $10.35 billion reported in the year-ago quarter.RTX Corporation’s RTX second-quarter 2026 adjusted earnings per share (EPS) of $1.89 beat the Zacks Consensus Estimate of $1.66 by 13.9%. The bottom line improved 21.1% from the year-ago quarter’s level of $1.56.Revenues rose 14.5% year over year to $24.71 billion and outpaced the consensus mark of $22.83 billion by 8.2%.Textron Inc. TXT reported second-quarter 2026 adjusted earnings of $1.62 per share, which surpassed the Zacks Consensus Estimate of $1.52 by 6.6%. The bottom line also rose 4.5% from $1.55 in the year-ago quarter. The company reported total revenues of $3.83 billion, which beat the Zacks Consensus Estimate of $3.82 billion by 0.15%. The top line also increased 3% from the year-ago quarter’s level of $3.72 billion. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report L3Harris Technologies Inc (LHX) : Free Stock Analysis Report Northrop Grumman Corporation (NOC) : Free Stock Analysis Report Textron Inc. (TXT) : Free Stock Analysis Report RTX Corporation (RTX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

L3Harris (LHX) reported $5.88 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 8.4%. EPS of $3.13 for the same period compares to $2.78 a year ago. The reported revenue represents a surprise of +1.5% over the Zacks Consensus Estimate of $5.79 billion. With the consensus EPS estimate being $2.80, the EPS surprise was +11.79%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. 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- Space & Mission Systems (SMS): $2.97 billion compared to the $2.91 billion average estimate based on three analysts. Revenue- Corporate eliminations: $-82 million versus the three-analyst average estimate of $-131.5 million. Revenue- Missile Solutions (MSL): $1.05 billion versus $1.05 billion estimated by three analysts on average. Revenue- Communication & Spectrum Dominance (CSD): $1.94 billion compared to the $1.97 billion average estimate based on three analysts. Operating Income - Space & Mission Systems (SMS): $290 million versus the two-analyst average estimate of $301.5 million. Operating Income - Missile Solutions (MSL): $130 million versus the two-analyst average estimate of $131.5 million. Operating Income - Communication & Spectrum Dominance (CSD): $522 million versus $493.5 million estimated by two analysts on average. View all Key Company Metrics for L3Harris here>>> Shares of L3Harris have returned +5% over the past month versus the Zacks S&P 500 composite's +1.9% 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. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report L3Harris Technologies Inc (LHX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MELBOURNE, Fla., July 29, 2026--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) reports second quarter 2026 results. Highlights Orders of $7.3 billion; book-to-bill of 1.2x increases backlog to record $42 billion Revenue of $5.9 billion, up 8% Operating margin of 11.1%, up 60 bps; Segment operating margin of 16.0% Diluted EPS of $3.13, up 28% Operating cash flow of $879 million; Free cash flow of $771 million, both up 37% Increased 2026 guidance for consolidated revenue and EPS "Our Trusted Disruptor culture, underpinned by early and strategic investments and leveraging our commercial business model, continues to deliver results. We deploy capabilities to support the warfighter's need to sense, connect and respond, addressing today’s complex threat environment quickly and at scale," said Christopher Kubasik, Chairman and CEO. Kubasik added, "Our purpose-built portfolio and focus on execution drove outstanding second quarter results. Strong orders, record backlog and double-digit first half growth reinforce our multi-year track record of delivering on our financial commitments." SUMMARY FINANCIAL RESULTS Revenue: Second quarter revenue increased $455 million, up 8%, driven by growth across all segments resulting from new program starts and strong execution against our record backlog. Operating Income: Second quarter operating income increased $83 million, up 15%. Operating margin was 11.1%, up 60 bps. The improvement in operating income was driven by an increase in segment operating income primarily at Communications & Spectrum Dominance and lower corporate and other expense. Segment Operating Income: Second quarter segment operating income increased $79 million, up 9%. Segment operating margin was 16.0%, up 10 bps. Segment operating income grew across all segments due to increased volume and improved program performance, partially offset by the absence of $92 million in gains recognized in connection with the sale of assets in second quarter 2025 as well as increased research and development costs. GAAP EPS: Second quarter GAAP EPS increased 28% to $3.13 driven by higher volume, improved program performance, lower corporate and other expense, including the non-cash preferred stock deemed dividend, partially offset by lower net asset and investment gains. Cash Flow: Cash from operations was $879 million, driven by higher net income and working capital timing. Capital expenditures were $108 million, contributing to free cash flow of $771 million, up 37%. SEGMENT RESULTS Space & Mission Systems Revenue: Second quarter revenue increased 7%, primarily due to higher revenues of $81 million in ISR from higher volumes on missionized aircraft programs, $76 million in Space Systems from higher volumes on classified space programs, $40 million in Mission Networks from higher FAA volume and $34 million in Airborne Solutions from higher F-35 volumes, partially offset by lower revenue in Intel and Cyber from lower classified program volume. Operating Margin: Second quarter operating margin decreased 60 bps to 9.8% driven by the absence of a $75 million gain recognized in connection with the sale of assets from a product line in second quarter 2025, partially offset by improved program performance and a $23 million net gain in segment investment income. Communications & Spectrum Dominance Revenue: Second quarter revenue increased 4%, primarily driven by higher revenue of $70 million in Mission Critical Communications associated with increased international deliveries for our software-defined resilient communications equipment and higher revenue in Spectrum Superiority from program ramps, partially offset by lower volume in Targeting and Sensor Systems. Operating Margin: Second quarter operating margin increased 230 bps to 26.9% primarily driven by higher international volume and a $16 million net gain in segment investment income, partially offset by increased investments in research and development as well as higher selling and marketing expenses and the absence of a $17 million gain recognized in connection with the sale of assets from a product line in second quarter 2025. Missile Solutions Revenue: Second quarter revenue increased 14%, primarily driven by higher revenue of $85 million in Propulsion Systems as growth from increased production and development volumes on key missile and munitions programs was partially offset by lower growth in our space propulsion business. Revenue also increased by $44 million in Advanced Effects from higher volumes and program ramps. Operating Margin: Second quarter operating margin decreased 20 bps to 12.3%, driven by the absence of a favorable contract resolution during second quarter 2025. Forward-Looking Statements This earnings release contains forward-looking statements within the meaning of federal securities laws made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples include, but are not limited to: planned investments and capacity expansion; our pipeline and backlog expansion; 2026 guidance; the impact of recent and expected contract awards; the 2028 financial framework; divestiture and subsidiary offering timing; the impact of the global security environment; projections of other financial items; and assumptions underlying any of the foregoing. Investors should not place undue reliance on forward-looking statements, which reflect management’s current expectations, estimates, projections, assumptions and information currently available to management, and are not guarantees of future performance or actual results. Important risks that could cause our results to differ materially from those expressed in or implied by these forward-looking statements or from our historical results include, but are not limited to, risks arising from: competitive markets; U.S. Government spending priorities; changes in contract mix; unilateral contract action by the U.S. Government or unexpected issues related to the DoW's investment in our subsidiary; uncertain economic conditions; future geo-political events; supply chain disruptions; indebtedness; interest rates and other market factors; and changes in effective tax rate or additional tax exposures. These and other important risks that could impact forward-looking statements are described more fully in the "Risk Factors" in our Form 10-K for fiscal 2025. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are qualified by the cautionary statements in this section, and we have no duty to and disclaim any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events or developments or otherwise. Key Terms View source version on businesswire.com: https://www.businesswire.com/news/home/20260729737014/en/ Contacts Investor Relations Contact: Tony Calderon, [email protected] Media Relations Contact: Sara Banda, [email protected]

L3Harris (LHX) came out with quarterly earnings of $3.13 per share, beating the Zacks Consensus Estimate of $2.8 per share. This compares to earnings of $2.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +11.79%. A quarter ago, it was expected that this technology and communications company would post earnings of $2.53 per share when it actually produced earnings of $2.72, delivering a surprise of +7.51%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. L3Harris, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $5.88 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.50%. This compares to year-ago revenues of $5.43 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. L3Harris shares have added about 4% since the beginning of the year versus the S&P 500's gain of 8.5%. While L3Harris has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for L3Harris was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.02 on $6.05 billion in revenues for the coming quarter and $11.54 on $23.55 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Huntington Ingalls (HII), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This shipbuilder is expected to post quarterly earnings of $3.80 per share in its upcoming report, which represents a year-over-year change of -1.6%. The consensus EPS estimate for the quarter has been revised 0% higher over the last 30 days to the current level. Huntington Ingalls' revenues are expected to be $3.14 billion, up 2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report L3Harris Technologies Inc (LHX) : Free Stock Analysis Report Huntington Ingalls Industries, Inc. (HII) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research