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Tuesday, August 4, 2020

L3Harris: 2Q Earnings Snapshot

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MELBOURNE, Fla. (AP) _ L3Harris Technologies, Inc. (LHX) on Friday reported second-quarter earnings of $283 million.
The Melbourne, Florida-based company said it had net income of $1.30 per share. Earnings, adjusted for one-time gains and costs, came to $2.83 per share.


The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.62 per share.


The technology and communications company posted revenue of $4.45 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $4.46 billion.
L3Harris expects full-year earnings in the range of $11.15 to $11.55 per share, with revenue in the range of $18.2 billion to $18.6 billion.
L3Harris shares have declined 12% since the beginning of the year. The stock has declined 13% in the last 12 months.


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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