01—Abstract
Summary
Summary of the 8-K filed April 28, 2022. Cited figures are marked; the original filing is the authoritative source.
L3Harris Technologies (LHX) filed an 8-K on April 28, 2022, to furnish information regarding its financial results for the first quarter of 2022 and reiterated its fiscal year 2022 guidance.
The report includes non-GAAP financial measures to provide a clearer view of operational performance, excluding certain items that may distort short-term results. Investors are directed to Exhibits 99.1 and 99.2, which contain the full investor letter and financial tables detailing these results and outlook.
The company's focus on providing non-GAAP metrics aims to enhance investors' ability to analyze business trends and understand performance separate from specific period impacts. This approach is used internally for forecasting and compensation, but investors should always consider these alongside GAAP measures.
02—Key points
Key Highlights
- L3Harris Technologies released its Q1 2022 financial results and reiterated its full-year 2022 guidance.
- The 8-K filing includes an Investor Letter and financial tables (Exhibits 99.1 and 99.2).
- The company utilizes non-GAAP financial measures, such as adjusted EPS and organic revenue growth, to provide insights into operational performance.
- Non-GAAP measures are presented to help investors analyze business trends and performance separate from short-term fluctuations.
- The filing emphasizes that non-GAAP measures should be considered in addition to, not as a substitute for, GAAP financial measures.
- Key financial guidance for FY2022, including revenue, margin, and EPS, was reiterated.
- The information provided is furnished and not deemed 'filed' for regulatory liability purposes.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to furnish L3Harris Technologies' financial results for the first quarter of 2022 and to reiterate its financial guidance for the full fiscal year 2022. It also provides context on the use of non-GAAP financial measures.
Where can I find the detailed financial information?
Detailed financial information, including the Q1 2022 results and reiterated FY2022 guidance, is available in the Investor Letter and accompanying financial tables furnished as Exhibits 99.1 and 99.2 to this 8-K filing. These exhibits are accessible via the investor relations section of the company's website.
What are non-GAAP financial measures and why does L3Harris use them?
Non-GAAP financial measures are financial metrics that exclude or include amounts that differ from GAAP. L3Harris uses them, such as adjusted EPS and organic revenue growth, to provide investors with a clearer understanding of underlying operational performance and business trends, separate from items that might disproportionately impact results in any given period. The company believes these measures enhance analysis but states they should be considered alongside, not as a replacement for, GAAP measures.
Has L3Harris updated its financial outlook for fiscal year 2022?
No, according to this filing, L3Harris Technologies has reiterated its guidance for fiscal year 2022. This means their previously issued financial projections for revenue, organic revenue growth, margin, EPS, and cash flow remain unchanged.
04—Continue