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

The primary purpose of this 8-K filing is to disclose L3Harris Technologies' financial results for the third quarter and the first three quarters of 2020, and to provide updated financial guidance for the full fiscal year 2020. It also serves to furnish the press release containing this information.

What kind of financial information is presented in the filing?

The filing presents financial results and updated guidance on both Generally Accepted Accounting Principles (GAAP) and non-GAAP measures. Non-GAAP measures include adjusted earnings per diluted share (EPS), adjusted earnings before interest and taxes (EBIT) and margin, and adjusted free cash flow. Organic revenue growth for the company and its segments is also provided.

Why does L3Harris use non-GAAP financial measures?

L3Harris management uses non-GAAP financial measures because they believe these measures provide useful information to investors by presenting operating results separate from items that may have a disproportionately positive or negative impact in a particular period. They also enhance investors' ability to analyze business trends and understand the company's performance.

Where can I find the detailed financial results and guidance?

The detailed financial results, updated guidance, and reconciliations of non-GAAP financial measures are included in Exhibit 99.1, which is the press release accompanying this 8-K filing. This exhibit is incorporated by reference into the report.

LHX 8-K: Earnings & Results & Regulation FD

Summary

L3Harris Technologies, Inc. (LHX) filed a Form 8-K on October 30, 2020, primarily to disclose its financial results for the third quarter and the first three quarters of 2020, along with updated full-year guidance. The report highlights key financial metrics, including revenue, margins, and earnings per share, both on a GAAP and non-GAAP basis. Investors are provided with updated outlook for the remainder of 2020, offering insight into the company's performance and future expectations amidst the prevailing economic conditions. The company emphasizes its use of non-GAAP financial measures to provide a clearer view of operational performance, excluding items that might disproportionately impact results in any given period. These measures, including adjusted EBIT and free cash flow, are presented to aid investors in analyzing business trends and understanding underlying performance. The filing also references pro forma financial measures for the prior year to facilitate comparative analysis.

Key Highlights

1L3Harris announced its third quarter and year-to-date 2020 financial results.
2The company provided updated guidance for full-year 2020, including revenue, margin, EPS, and cash flow expectations.
3The filing utilizes both GAAP and non-GAAP financial measures, including adjusted EBIT, adjusted EBIT margin, and adjusted free cash flow, to offer a clearer view of operational performance.
4Organic revenue growth figures for L3Harris and its key segments (Communications Systems, Space and Airborne Systems, Aviation Systems) for Q3 2020 were disclosed.
5The report includes reconciliations for non-GAAP financial measures, detailing adjustments made to GAAP figures.
6Pro forma financial measures for the first three quarters of 2019 are included for comparative analysis.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Oct 30, 2020)

Summary

Key Highlights

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