Summary
L3Harris Technologies, Inc. reported a solid performance for the second quarter and year-to-date periods ending June 27, 2025. Revenue saw a modest increase year-over-year, driven by growth in the Communication Systems and Aerojet Rocketdyne segments. Net income and diluted Earnings Per Share (EPS) also showed significant improvements, reflecting effective cost management and operational efficiencies. The company successfully completed the divestiture of its Commercial Aviation Solutions (CAS) business, which is expected to streamline operations and enhance focus on core defense and aerospace capabilities. Financially, L3Harris demonstrated strong cash flow generation from operations, allowing for continued investment in the business and return of capital to shareholders through share repurchases and dividends. The company also refinanced its credit facilities, enhancing its financial flexibility. Despite some headwinds from unfavorable changes in estimate-at-completion adjustments in specific segments, overall profitability and operational execution remain positive.
Financial Highlights
49 data points| Revenue | $5.43B |
| Cost of Revenue | $4.09B |
| Gross Profit | $1.33B |
| SG&A Expenses | $764.00M |
| Operating Income | $571.00M |
| Net Income | $458.00M |
| EPS (Basic) | $2.45 |
| EPS (Diluted) | $2.44 |
| Shares Outstanding (Basic) | 187.00M |
| Shares Outstanding (Diluted) | 187.80M |
Key Highlights
- 1Revenue increased by 2.4% to $5.43 billion in Q2 2025 compared to $5.30 billion in Q2 2024, and by 0.45% year-to-date.
- 2Diluted EPS rose significantly by 27.1% to $2.44 in Q2 2025 compared to $1.92 in Q2 2024, and by 31.8% year-to-date.
- 3Net income attributable to L3Harris increased to $458 million in Q2 2025 from $366 million in Q2 2024, and year-to-date net income was $844 million compared to $649 million.
- 4The company completed the divestiture of its Commercial Aviation Solutions (CAS) disposal group on March 28, 2025, receiving $831 million in cash proceeds.
- 5Operating income improved by 20% to $571 million in Q2 2025 from $476 million in Q2 2024, and by 31.3% year-to-date.
- 6The company ended the quarter with $482 million in cash and cash equivalents and has significant available borrowing capacity under its credit facilities.
- 7Backlog remains strong at $35.4 billion as of June 27, 2025, with approximately 45% expected to be recognized as revenue over the next twelve months.