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L3Harris: 4Q Earnings Snapshot

🕐 1 min read

MELBOURNE, Fla. (AP) _ L3Harris Technologies, Inc. (LHX) on Friday reported fourth-quarter profit of $193 million.

On a per-share basis, the Melbourne, Florida-based company said it had profit of 91 cents. Earnings, adjusted for one-time gains and costs, came to $3.14 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.07 per share.

The technology and communications company posted revenue of $4.66 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $4.88 billion.

For the year, the company reported profit of $1.12 billion, or $5.19 per share. Revenue was reported as $18.19 billion.

L3Harris expects full-year earnings in the range of $12.60 to $13 per share, with revenue in the range of $18.5 billion to $18.9 billion.

L3Harris shares have decreased 6.5% since the beginning of the year. The stock has dropped 21% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LHX at https://www.zacks.com/ap/LHX

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