Where can I find the detailed financial results and guidance?

The detailed financial results for Q1 2020 and the updated full-year 2020 guidance are presented in Exhibit 99.1, which is furnished with this 8-K filing. Investors should refer to this exhibit for specific numbers and reconciliations.

What are non-GAAP financial measures and why does L3Harris use them?

Non-GAAP financial measures are financial metrics that exclude or include amounts such that they differ from the most directly comparable measure calculated and presented in accordance with Generally Accepted Accounting Principles (GAAP). L3Harris uses them to provide investors with a view of operational results that are separate from items that may disproportionately impact results in any given period, believing they enhance the ability to analyze business trends and performance.

Are the financial measures presented in this filing considered official GAAP figures?

The filing explicitly states that the information furnished under Item 2.02 and 7.01, including Exhibit 99.1, is not deemed "filed" under Section 18 of the Exchange Act and should not be incorporated by reference into other filings. While non-GAAP measures are discussed, they should be considered in addition to, and not as a substitute for, GAAP financial measures.

LHX 8-K: Earnings & Results & Regulation FD

Q: What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to publicly disclose L3Harris Technologies' financial results for the first quarter of 2020 and to provide updated guidance for the full fiscal year 2020, as announced in a press release.

Summary

L3Harris Technologies (LHX) filed an 8-K on May 5, 2020, to report its financial results for the first quarter of 2020 and provide an updated outlook for the full fiscal year. The filing primarily references a press release (Exhibit 99.1) that details the company's operational performance, including key financial metrics like revenue, margins, earnings per diluted share, and cash flow. Investors should note that the company utilizes and discusses non-GAAP financial measures, adjusted for specific items, to offer a clearer view of underlying business trends and operational performance, which management believes aids in analyzing business trends and performance. While the specific Q1 2020 results and full-year guidance figures are detailed in the referenced exhibit, this 8-K filing serves as the official notification to the market. Investors are encouraged to review Exhibit 99.1 for comprehensive details on the company's financial condition, operational results, and forward-looking statements. The company emphasizes that these non-GAAP measures should be considered alongside, not as a replacement for, GAAP figures.

Key Highlights

1L3Harris Technologies filed an 8-K on May 5, 2020, reporting Q1 2020 results and updated full-year 2020 guidance.
2The filing primarily incorporates by reference a press release (Exhibit 99.1) containing detailed financial information.
3Key financial metrics discussed include revenue, margin, earnings per diluted share, and cash flow.
4The company utilizes and emphasizes non-GAAP financial measures for a clearer understanding of operational performance and business trends.
5Non-GAAP measures are adjusted for specific costs, charges, expenses, or other items to provide a view separate from GAAP impacts.
6Management believes non-GAAP measures enhance investor ability to analyze business trends and performance.
7Pro forma financial measures for the prior year, consistent with prior filings, are also included.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (May 5, 2020)

Summary

Key Highlights

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