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

The main purpose of this 8-K filing is to announce L3Harris Technologies' financial results for the first quarter of 2021 and to provide updated financial guidance for the full fiscal year 2021. It also serves to furnish the accompanying press release which contains these details.

Does this filing contain definitive financial results that are officially 'filed' with the SEC?

No, the information contained in this 8-K filing, including the press release and financial tables, is furnished under Items 2.02 and 7.01. This means it is not considered 'filed' for the purposes of Section 18 of the Exchange Act and does not automatically become incorporated into other SEC filings, unless specifically referenced.

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

Non-GAAP financial measures are performance metrics that exclude or include certain amounts to present financial results differently from standard GAAP (Generally Accepted Accounting Principles) calculations. L3Harris uses these measures because management believes they offer a more useful view of operating results, helping investors understand period-over-period performance separate from items that may have a disproportionately positive or negative impact on results in any given period. They are intended to enhance the ability of investors to analyze business trends and performance.

Why is a reconciliation of forward-looking non-GAAP measures to GAAP not provided?

A reconciliation of forward-looking non-GAAP measures to comparable GAAP measures is not provided because it would be impossible to do so without unreasonable effort. This is due to the inherent difficulty in forecasting and quantifying the comparable GAAP measures and the applicable adjustments. These adjustments can be highly variable, complex, and unpredictable, potentially having a significant impact on future GAAP results.

LHX 8-K: Earnings & Results & Regulation FD

Summary

L3Harris Technologies, Inc. (LHX) filed an 8-K on April 30, 2021, to announce its first-quarter 2021 financial results and provide an updated full-year 2021 guidance. The filing includes information on revenue, earnings per diluted share (EPS), margins, and cash flow. Management believes that non-GAAP financial measures, detailed in the accompanying press release and exhibits, offer valuable insights into the company's operational performance and business trends, separate from GAAP figures which can be influenced by unique or extraordinary items. Key to investors, the report signifies an update to the company's financial outlook for the year. While the specific figures from the press release are furnished and not formally filed, they represent management's current expectations and targets. Investors should pay close attention to the provided guidance, especially concerning organic revenue growth, adjusted EPS, and free cash flow, as these metrics are crucial for assessing L3Harris's growth trajectory and profitability in the coming periods. The use of non-GAAP measures highlights management's focus on underlying operational performance.

Key Highlights

1L3Harris Technologies released its Q1 2021 financial results and updated its full-year 2021 guidance.
2The filing references a press release (Exhibit 99.1) containing detailed financial information and forward-looking guidance.
3Key financial metrics discussed include revenue, EPS, operating margins, and cash flow.
4The company provided updated guidance for full-year 2021, encompassing revenue, margin, EPS, and cash flow expectations.
5L3Harris utilizes non-GAAP financial measures to provide additional insights into operational performance, adjusted for certain items.
6Reconciliations for non-GAAP measures are included in the accompanying financial statement tables.
7Forward-looking non-GAAP guidance is provided, though a full reconciliation to GAAP is not available without unreasonable effort.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Apr 30, 2021)

Summary

Key Highlights

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