What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to announce L3Harris Technologies' (formerly Harris Corporation) financial results for its second quarter of fiscal year 2019 and to provide updated financial guidance for the full fiscal year 2019. It also includes information on non-GAAP financial measures used by the company.

Why does the company emphasize non-GAAP financial measures in this report?

L3Harris emphasizes non-GAAP financial measures, such as adjusted EPS and adjusted free cash flow, to provide investors with a clearer view of the company's ongoing operational performance. These measures exclude certain items, like L3 deal and integration costs, which are considered non-recurring or have a disproportionate impact on reported results, especially in the context of the pending merger with L3 Technologies.

Where can I find more detailed financial information?

Detailed financial information, including the company's financial results and updated guidance, as well as reconciliations between non-GAAP and GAAP financial measures, can be found in the press release and related financial tables included as Exhibit 99.1 to this 8-K filing.

What is the significance of the L3 deal and integration costs mentioned?

The mention of L3 deal and integration costs signifies that the company is providing financial insights that separate its core operational performance from expenses related to the pending merger with L3 Technologies. This allows investors to better assess the underlying health and ongoing profitability of the business without the immediate impact of merger-related expenditures.

LHX 8-K: Earnings & Results & Regulation FD

Summary

This 8-K filing from L3Harris Technologies (formerly Harris Corporation) on January 29, 2019, primarily announces the company's second-quarter fiscal year 2019 results and provides updated financial guidance for the full fiscal year 2019. The report highlights key financial metrics such as revenue, earnings per diluted share (EPS), and free cash flow, with a significant emphasis on non-GAAP financial measures. These non-GAAP figures are presented to offer investors a clearer view of operational performance, excluding certain items like L3 deal and integration costs, which are particularly relevant given the pending merger with L3 Technologies. Investors should pay close attention to the updated guidance as it reflects management's current outlook and expectations for the company's performance post-merger. Management utilizes these non-GAAP measures to provide a more consistent and comparable view of underlying business trends, separating operational performance from one-time or integration-related expenses. The company states that these measures are intended to complement, not replace, GAAP financial statements. Investors are encouraged to review the accompanying press release (Exhibit 99.1) for detailed reconciliations between GAAP and non-GAAP figures and to gain a comprehensive understanding of L3Harris's financial condition and future prospects.

Key Highlights

1Announcement of L3Harris Technologies' (formerly Harris Corporation) second-quarter fiscal 2019 financial results.
2Updated fiscal year 2019 guidance provided for revenue, diluted EPS from continuing operations, and free cash flow.
3Significant use of non-GAAP financial measures to present operational performance, excluding L3 deal and integration costs.
4Emphasis on adjusted free cash flow and adjusted EPS to show underlying business trends separate from merger-related expenses.
5Management believes non-GAAP measures offer enhanced clarity for investors on period-over-period operating results and business trends.
6The filing includes a press release and financial tables as Exhibit 99.1, which should be reviewed for detailed reconciliations.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Jan 29, 2019)

Summary

Key Highlights

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