LHX SEC Filings
L3HARRIS TECHNOLOGIES, INC. /DE/ - 552 total filings
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Shareholder Vote Results (May 12, 2026)
L3Harris Technologies, Inc. (LHX) filed an 8-K on May 12, 2026, detailing the results of its 2026 Annual Meeting of Shareholders held on May 11, 2026. The meeting saw strong shareholder participation with approximately 92.2% of outstanding shares represented, indicating high engagement. Key outcomes include the overwhelmingly successful election of all eleven director nominees to the Board, alongside the advisory approval of named executive officer compensation and the ratification of Ernst & Young LLP as the independent auditor for the upcoming fiscal year. Of particular note for investors, the shareholder proposal seeking to enhance the ability to call special meetings was rejected, suggesting a preference among the majority of shareholders for the current governance structure or a lack of consensus on the proposed changes. The strong support for director elections and executive compensation indicates shareholder confidence in the current leadership and operational direction of the company.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q1 Ended Apr 3, 2026
L3Harris Technologies, Inc. reported strong financial performance for the first quarter of fiscal year 2026, with a significant increase in revenue and net income compared to the prior year. Revenue grew by 12% to $5.74 billion, driven by robust performance across all segments, particularly Space & Mission Systems (SMS), fueled by new program ramps and increased international deliveries. Net income saw a substantial rise of 33% to $512 million, translating to diluted EPS of $2.72, up from $2.04 in the first quarter of fiscal year 2025. The company's operational efficiency is demonstrated by the improvement in gross margin and a decrease in general and administrative expenses, despite increased company-funded R&D. The company also continues to manage its capital structure effectively, with a strong liquidity position and available borrowing capacity. A significant subsequent event is the definitive agreement for a $1.0 billion investment in Aerojet Rocketdyne Holdings, Inc. by the U.S. Department of War, aimed at enhancing critical defense technologies, which is expected to close in the second half of 2026.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Apr 30, 2026)
L3Harris Technologies, Inc. (LHX) filed an 8-K on April 30, 2026, to report its first quarter financial results for the period ending March 31, 2026. The filing primarily consists of furnishing the earnings release, which contains the detailed financial performance and operational updates for the quarter. Investors should refer to the furnished Exhibit 99.1 for the specific financial figures, including revenue, net income, earnings per share, and any forward-looking guidance provided by the company. While the 8-K itself does not contain extensive new disclosures beyond referencing the earnings release, it serves as the official notification of the company's financial performance for the first quarter. The earnings release will likely detail key business segment performance, any significant contract awards or losses, and management's outlook on future business conditions and strategic priorities. Investors are encouraged to review the earnings release thoroughly for a comprehensive understanding of LHX's current financial standing and future prospects.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Apr 23, 2026)
L3Harris Technologies (LHX) has entered into significant agreements with the U.S. Department of War, injecting $1 billion into its wholly owned subsidiary, Aerojet Rocketdyne Holdings, Inc. (AJRD). This strategic investment is aimed at bolstering the U.S. defense industrial base by enabling AJRD to expand and modernize its facilities, accelerate R&D, and increase production capacity for critical technologies. This move suggests a strong commitment to enhancing national security capabilities and strengthening L3Harris's role within the defense sector. The investment is structured through the sale of Series A Convertible Preferred Stock and warrants in AJRD. Upon an eventual IPO of AJRD, the preferred stock will convert into common stock at a discount to the IPO price, and warrants will be exchanged for new warrants representing a percentage of the IPO company's stock on a diluted basis. While the Department of War is expected to own less than 10% post-IPO on an as-exercised basis, the arrangement provides the government with a stake and influence in a key defense asset, aligning with strategic national objectives.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Mar 12, 2026)
L3Harris Technologies, Inc. (LHX) announced a significant leadership change within its executive team, appointing Mr. Sam Mehta as the President of both the Space & Mission Systems and Communications & Spectrum Dominance segments, effective March 16, 2026. This appointment consolidates leadership over two key business areas under Mr. Mehta, who has prior experience leading the Communication Systems segment and significant tenure in the aerospace and defense industry. The company intends to continue reporting financial results for each of its three segments individually, maintaining its current reporting structure. This strategic realignment follows the departure of Jonathan Rambeau, the former President of the Communications & Spectrum Dominance segment, who is leaving to pursue other opportunities. In conjunction with his expanded role, Mr. Mehta's compensation has been adjusted to include a higher base salary and a substantial equity grant, reflecting the increased responsibilities. Investors will be keen to monitor the integration of these segments under a single leader and the impact on operational synergies and financial performance.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Mar 2, 2026)
L3Harris Technologies, Inc. (LHX) has announced a significant leadership change in its finance department with the appointment of Kenneth Sharp as the new Senior Vice President and Chief Financial Officer, effective March 16, 2026. This appointment marks a transition for the current CFO, Kenneth Bedingfield, who will now concentrate on his role as President of the Missile Solutions segment. Mr. Sharp brings a wealth of experience from his previous roles as CFO at Peraton, Inc., and Executive Vice President and CFO at DXC Technology Company, along with his tenure at Northrop Grumman Corporation, underscoring his extensive background in the defense and technology sectors. Investors can anticipate a strong financial leadership transition with Mr. Sharp's extensive experience. His compensation package includes a base salary of $875,000, target annual cash incentive of 100% of base salary, and target annual equity of $3,250,000. Additionally, he will receive a $3,500,000 restricted stock unit grant to offset forgone equity from his previous employer, vesting over four years, and a $1,000,000 cash sign-on bonus. This comprehensive package reflects the company's investment in experienced leadership to guide its financial strategy.
L3HARRIS TECHNOLOGIES, INC. /DE/ Annual Report, Year Ended Jan 2, 2026
L3Harris Technologies, Inc. reported a solid performance for fiscal year 2025, with revenue increasing by 3% to $21.9 billion, driven by higher volumes and new program ramps across its segments. The company's contractual backlog grew by 13% to $38.7 billion, indicating strong future revenue potential. Operating income saw a notable increase of 10% to $2.1 billion, reflecting successful cost management initiatives like LHX NeXt and gains from asset monetization, although partially offset by a goodwill impairment charge related to a pending divestiture. The company continues to prioritize strategic growth and innovation, investing $536 million in company-funded R&D. L3Harris also advanced its portfolio shaping strategy with the divestiture of its Commercial Aviation Solutions (CAS) business. Looking ahead, the company is streamlining its segments into three reportable units, effective fiscal 2026, to better align capabilities and business models. Furthermore, L3Harris announced a strategic investment from the Department of War in its Missile Solutions business, positioning it for a potential IPO in the second half of 2026.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Feb 6, 2026)
L3Harris Technologies (LHX) announced that its Chairman and CEO, Christopher Kubasik, has established a Rule 10b5-1 trading plan. This plan, adopted during an open trading window and effective from May 2026 through October 2026, allows for the sale of up to 129,501 vested stock options and 60,000 shares of common stock. The sales are subject to predetermined dates and minimum price thresholds, with Mr. Kubasik relinquishing control over the timing and execution of these transactions, aligning with SEC regulations and company policy. This proactive measure demonstrates Mr. Kubasik's adherence to compliance and governance standards. The planned sales represent a small portion of his holdings, which significantly exceed company ownership guidelines. Investors should note that these transactions are intended to diversify holdings and will be publicly disclosed via Form 4 and Form 144 filings. The company has stated it will not provide further updates on other executive trading plans.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Jan 29, 2026)
L3Harris Technologies, Inc. (LHX) filed an 8-K on January 29, 2026, to report its fourth-quarter financial results, which were released on the same day. While the filing itself does not contain detailed financial figures, it incorporates by reference an earnings release (Exhibit 99.1) that provides the specific operational and financial data for the quarter ending January 28, 2026. Investors should refer to the furnished earnings release for comprehensive details on the company's performance, including revenue, profitability, and any forward-looking guidance. This 8-K serves as the official notification and filing mechanism for the earnings announcement. It's important for investors to note that the information furnished under Item 2.02, including the earnings release, is not deemed "filed" for regulatory purposes under Section 18 of the Exchange Act, nor is it automatically incorporated into other SEC filings. Therefore, investors should specifically review Exhibit 99.1 for any required financial details and strategic commentary.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Jan 5, 2026)
L3Harris Technologies, Inc. (LHX) filed an 8-K on January 5, 2026, reporting a key executive transition and a significant business restructuring. Edward Zoiss has been appointed Vice President, Engineering & Innovation, a move that follows his departure as President of the Space & Airborne Systems segment. This leadership change within a critical R&D function suggests a continued focus on technological advancement and innovation across the company.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q3 Ended Oct 3, 2025
L3Harris Technologies, Inc. reported a solid third quarter for fiscal year 2025, demonstrating revenue growth and improved profitability. Total revenue increased by 7% year-over-year to $5.7 billion, driven by higher volumes and new program ramps across its various segments, particularly in Aerospace Systems and Communication Systems. Operating income saw a significant increase, reflecting the benefits of cost-saving initiatives like LHX NeXt and favorable changes in contract estimates, partially offset by the absence of the divested CAS disposal group. The company's year-to-date performance also shows positive momentum with a 3% revenue increase and a substantial jump in diluted Earnings Per Share (EPS) to $6.92, up from $5.50 in the prior year. This growth is supported by strategic cost management and contributions from key segments. Despite a slight increase in the effective tax rate due to new legislation and divestitures, the company's overall financial health remains robust. Management highlighted continued strength in its backlog, which stood at $36.3 billion, providing a strong revenue outlook for the coming periods.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Oct 30, 2025)
L3Harris Technologies, Inc. (LHX) has filed a Form 8-K to report its third-quarter financial results, which were released on October 30, 2025. This filing primarily serves to furnish the earnings release detailing these results, which is incorporated by reference as Exhibit 99.1. Investors should refer to this exhibit for the specific financial performance data, key operating metrics, and any forward-looking statements or guidance provided by the company for the third quarter of 2025. While the 8-K itself does not contain the detailed financial figures, it signals the official release of this information. The company's performance in areas such as revenue, profitability, backlog, and segment performance will be crucial for understanding its current operational health and future prospects. Investors are advised to carefully review the furnished earnings release (Exhibit 99.1) for a comprehensive understanding of L3Harris's financial condition and results of operations for the period.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q2 Ended Jun 27, 2025
L3Harris Technologies, Inc. reported a solid performance for the second quarter and year-to-date periods ending June 27, 2025. Revenue saw a modest increase year-over-year, driven by growth in the Communication Systems and Aerojet Rocketdyne segments. Net income and diluted Earnings Per Share (EPS) also showed significant improvements, reflecting effective cost management and operational efficiencies. The company successfully completed the divestiture of its Commercial Aviation Solutions (CAS) business, which is expected to streamline operations and enhance focus on core defense and aerospace capabilities. Financially, L3Harris demonstrated strong cash flow generation from operations, allowing for continued investment in the business and return of capital to shareholders through share repurchases and dividends. The company also refinanced its credit facilities, enhancing its financial flexibility. Despite some headwinds from unfavorable changes in estimate-at-completion adjustments in specific segments, overall profitability and operational execution remain positive.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Jul 24, 2025)
L3Harris Technologies (LHX) has filed an 8-K report on July 24, 2025, to announce its second-quarter financial results. This filing, specifically Item 2.02, incorporates an earnings release (Exhibit 99.1) which provides the details of the company's performance for the period ending July 23, 2025. Investors should refer to the furnished earnings release for comprehensive financial data, including revenue, earnings per share, and any forward-looking guidance provided by the company. This report serves as the official notification of these results to the market. While the 8-K itself does not contain the detailed financial figures, it directs investors to the earnings release for crucial information. This includes an overview of the company's operational and financial condition for the second quarter. As this is a furnished, not filed, exhibit, it does not carry the same liability under Section 18 of the Exchange Act. Investors should treat this information as a key update on LHX's performance and outlook, with the full details available in the referenced exhibit.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Jul 18, 2025)
L3Harris Technologies, Inc. (LHX) announced a modest increase in its annual equity retainer for Board members, effective January 3, 2026. The annual equity retainer will rise from $190,000 to $200,000 in director share units. This change, recommended by the Nominating and Governance Committee, reflects an adjustment to director compensation. The company has also filed an updated Summary of Annual Compensation for Non-Employee Directors as an exhibit to this report.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Jun 13, 2025)
L3Harris Technologies, Inc. (LHX) announced that its Chair and CEO, Christopher E. Kubasik, has established a pre-arranged trading plan for executive stock options and the sale of shares. This plan, adopted under Rule 10b5-1, allows for the exercise of vested options to purchase up to 97,171 shares granted in 2018, with sales scheduled to occur between September and December 2025, subject to minimum price thresholds. Importantly, Mr. Kubasik will have no discretion over the timing or execution of these sales once the plan is in effect, ensuring compliance with insider trading regulations. This proactive measure demonstrates a structured approach to managing executive compensation and liquidity while adhering to strict regulatory requirements. Investors can view these upcoming transactions as part of a predetermined strategy rather than indicative of a change in management's confidence in the company's future performance. All transactions will be publicly disclosed via Form 4 and Form 144 filings.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Apr 30, 2025)
L3Harris Technologies, Inc. (LHX) announced that its CEO, Christopher E. Kubasik, has established a Rule 10b5-1 trading plan for the exercise of employee stock options and the subsequent sale of up to 147,411 shares. This plan is designed to comply with SEC regulations and the company's insider trading policies, ensuring that Mr. Kubasik has no discretionary control over the timing or execution of these transactions once established. The shares are expected to be sold between July 2025 and September 2025, subject to predetermined price thresholds. This proactive measure allows the CEO to diversify his holdings and manage his equity in a structured manner, while also providing transparency to investors. The plan covers vested options granted in 2017 that are set to expire in 2027. The company has also noted that it will not be reporting on other potential 10b5-1 plans from other executives or directors, unless required by its periodic SEC filings.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q1 Ended Mar 28, 2025
L3Harris Technologies, Inc. reported its first quarter 2025 results, showing a net income of $386 million, or $2.04 per diluted share, a significant increase from $285 million, or $1.48 per diluted share, in the prior year's first quarter. This earnings growth was driven by a reduction in General and Administrative (G&A) expenses, which fell by $145 million, largely due to lower LHX NeXt implementation costs. Revenue for the quarter was $5.132 billion, a slight decrease from $5.211 billion in Q1 2024, influenced by lower product revenues in the Space & Airborne Systems (SAS) and Integrated Mission Systems (IMS) segments, partially offset by growth in Communication Systems (CS) and Aerojet Rocketdyne (AR). The company also completed the divestiture of its Commercial Aviation Solutions (CAS) disposal group on March 28, 2025, generating $831 million in cash proceeds. This strategic move, coupled with a business realignment transferring the Fuzing and Ordnance business from IMS to AR, aims to streamline operations. Despite a slight year-over-year revenue dip, the improved profitability and successful divestiture demonstrate management's focus on cost control and portfolio optimization.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Apr 24, 2025)
L3Harris Technologies, Inc. (LHX) filed a Form 8-K on April 24, 2025, to announce its first quarter financial results for the period ending April 23, 2025. While the filing itself does not contain the detailed financial data, it incorporates by reference the earnings release (Exhibit 99.1) which provides the comprehensive results. Investors should refer to this earnings release for specific details on revenue, profitability, segment performance, and any forward-looking guidance provided by the company for the upcoming quarters. This filing is a routine update and serves to disseminate the official first quarter financial performance information. As is standard practice, the information furnished under Item 2.02 is not considered "filed" for regulatory liability purposes but is crucial for understanding the company's current operational and financial standing. Investors are encouraged to review the accompanying earnings release for a complete picture of LHX's performance and outlook.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Shareholder Vote Results (Apr 22, 2025)
L3Harris Technologies, Inc. (LHX) filed an 8-K report detailing the results of its 2025 Annual Meeting of Shareholders held on April 18, 2025. A significant majority of outstanding shares, approximately 92.1%, were represented, indicating strong shareholder engagement. The meeting focused on routine corporate governance matters, with all proposals receiving substantial shareholder support, with the exception of a shareholder proposal on lobbying transparency. This filing provides investors with insight into the company's governance structure and shareholder sentiment on key issues. The election of directors saw all thirteen nominees receive overwhelming approval, reinforcing the board's continuity and the confidence shareholders have in its leadership. Similarly, the advisory vote to approve named executive officer compensation was passed, suggesting general satisfaction with the company's executive pay practices. Furthermore, the appointment of Ernst & Young LLP as the independent registered public accounting firm was ratified, a standard procedural outcome that affirms the established audit process. The rejection of the "Transparency in Lobbying" shareholder proposal indicates that a majority of voting shareholders did not support this specific initiative at this time.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Material Agreement (Feb 21, 2025)
L3Harris Technologies, Inc. (LHX) announced the establishment of two new senior unsecured revolving credit facilities, replacing existing ones. The company has secured a $2.5 billion, five-year credit facility maturing in February 2030 and a $500 million, 364-day facility maturing in February 2026. These facilities are designed to provide liquidity and flexibility for general corporate purposes. The terms indicate a strong credit profile, with interest rates and fees tied to L3Harris's senior unsecured long-term debt ratings, allowing for favorable pricing as the company's credit quality improves. This strategic move enhances L3Harris's financial flexibility by increasing its overall revolving credit capacity and extending the maturity of its primary credit line. The replacement of the older facilities, with no early termination penalties, suggests a proactive approach to debt management and a confidence in the company's ongoing financial stability and future prospects. Investors should note the details regarding borrowing options, interest rate structures (including SOFR and Base Rate alternatives), applicable margins, and unused commitment fees, all of which are subject to the company's credit ratings.
L3HARRIS TECHNOLOGIES, INC. /DE/ Annual Report, Year Ended Jan 3, 2025
L3Harris Technologies, Inc. (LHX) demonstrated solid performance in fiscal year 2024, with total revenue reaching $21.3 billion, a significant increase driven primarily by the full-year inclusion of Aerojet Rocketdyne (AR) following its acquisition. The company maintained strong operational performance across its four segments: Space & Airborne Systems (SAS), Integrated Mission Systems (IMS), Communication Systems (CS), and Aerojet Rocketdyne (AR). Notably, IMS saw substantial operating income growth due to the absence of prior year goodwill impairment charges and improved program performance. The company's strategic priorities remain focused on performance, growth, and innovation. L3Harris ended the fiscal year with a robust backlog of $34.2 billion, indicating strong future revenue potential. Investments in company-funded R&D totaled $515 million, underscoring a commitment to technological advancement. The company also made progress on its LHX NeXt initiative aimed at enhancing organizational agility and competitiveness, with significant investments in enterprise tools and process optimization. L3Harris continued its commitment to shareholder returns by paying quarterly dividends and repurchasing shares, with $3.38 billion remaining on its share repurchase authorization.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Feb 4, 2025)
L3Harris Technologies, Inc. (LHX) announced that its Chair and CEO, Christopher E. Kubasik, has established a pre-arranged trading plan for the exercise and sale of company stock options. This plan, adopted under Rule 10b5-1, allows for the sale of vested options to purchase 35,273 shares, granted in February 2017 and expiring in February 2027. The sales are scheduled to commence in May 2025 and conclude by June 12, 2025, subject to minimum price thresholds and predetermined dates, with Mr. Kubasik having no discretion over the actual transactions. This development is significant for investors as it provides insight into executive stock management and potential future stock liquidity. The plan ensures compliance with securities regulations and internal policies, with all transactions to be publicly disclosed via Form 4 and Form 144 filings. While the company will not report on other executive 10b5-1 plans, this disclosure for the CEO signals a structured approach to managing his equity holdings.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Jan 30, 2025)
L3Harris Technologies, Inc. (LHX) has filed a Current Report on Form 8-K to announce its fourth quarter financial results, released on January 30, 2025. While the filing itself does not contain the detailed financial figures, it references an accompanying earnings release (Exhibit 99.1) which provides the specific results for the period. Investors should refer to this earnings release for a comprehensive understanding of the company's performance, including key metrics such as revenue, earnings per share, and any forward-looking guidance provided. The furnishing of this information under Item 2.02 signifies that L3Harris has officially communicated its quarterly performance. It is important to note that information furnished under Item 2.02 is not considered "filed" for the purposes of Section 18 of the Securities Exchange Act, meaning it is not subject to the same level of regulatory scrutiny as if it were formally filed. However, it remains a crucial source of information for assessing the company's financial health and operational achievements.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Dec 27, 2024)
L3Harris Technologies, Inc. (LHX) filed an 8-K on December 26, 2024, reporting the retirement of General (ret.) Peter W. Chiarelli from its Board of Directors, effective at the end of 2024. This departure is in accordance with the Company's retirement policy and is not due to any disagreements regarding the Company's operations, policies, or practices. Mr. Chiarelli has served on the Board for twelve years, and his retirement will be effective at the upcoming annual shareholder meeting where he will not be standing for re-election. The Company expressed gratitude for his service. This filing is primarily administrative and does not indicate any significant operational or financial changes for the company.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Nov 27, 2024)
L3Harris Technologies, Inc. (LHX) announced on November 26, 2024, that its CEO, Christopher E. Kubasik, has established a pre-arranged stock option exercise and sale plan under Rule 10b5-1. This plan allows for the exercise of 112,138 vested stock options granted in February 2017 and the subsequent sale of the issued shares. The sales are scheduled to commence in March 2025 and conclude by March 25, 2025, contingent upon specific price thresholds. This action, taken during an open trading window and without executive discretion over individual sales, aims to diversify Mr. Kubasik's holdings and ensure compliance with company stock ownership guidelines. The transactions will be publicly disclosed through SEC filings, providing transparency to investors. The company has stated it will not routinely report on similar plans established by other executives or directors.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q3 Ended Sep 27, 2024
L3Harris Technologies reported solid financial results for the first three quarters of fiscal year 2024, demonstrating revenue growth driven by key segments, particularly the Aerojet Rocketdyne (AR) acquisition which is now fully integrated. Total revenue increased by 12% year-over-year to $15.8 billion, with the AR segment contributing significantly following its acquisition in the prior year. Diluted Earnings Per Share (EPS) for the nine-month period was $5.50, a slight decrease from $5.61 in the prior year, influenced by increased General and Administrative (G&A) expenses and higher interest expenses. The company's liquidity remains strong, with substantial available borrowing capacity and positive cash flow from operations. L3Harris continues to manage its capital structure by refinancing debt and executing its share repurchase program, demonstrating a commitment to returning value to shareholders. The outlook for the defense spending environment remains positive due to geopolitical tensions, although the company navigates uncertainties related to U.S. government appropriations and the upcoming election cycle. Management remains confident in the company's ability to meet its financial obligations and pursue strategic growth initiatives.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Oct 24, 2024)
L3Harris Technologies, Inc. (LHX) filed a Form 8-K on October 24, 2024, to report its third-quarter financial results. The key takeaway for investors is the release of this earnings data, which provides an update on the company's operational and financial performance during the third quarter of 2024. While the 8-K itself is a procedural filing, the furnished earnings release (Exhibit 99.1) contains the substantive financial information investors will want to analyze.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Oct 16, 2024)
L3Harris Technologies, Inc. (LHX) announced a key board refreshment in an 8-K filing dated October 16, 2024. The company has increased its Board of Directors from fourteen to fifteen members and appointed David S. Regnery as an independent director. Mr. Regnery brings significant executive experience, having served as CEO and Board Chair of Trane Technologies plc. This appointment is part of a pre-existing cooperation agreement with D. E. Shaw entities, aimed at bolstering the board with independent expertise. Investors should note that Mr. Regnery's appointment is a direct result of a December 2023 agreement, indicating ongoing strategic discussions and board evolution. His extensive background in industrial operations and corporate leadership is expected to provide valuable oversight and strategic guidance as L3Harris continues to navigate its operational and market landscape. The company has also furnished a press release detailing this appointment, which is incorporated by reference.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Aug 2, 2024)
L3Harris Technologies (LHX) announced the closing of a $600 million debt offering of 5.500% Notes due 2054. This issuance was conducted under the company's existing shelf registration statement. The net proceeds are intended for general corporate purposes, with specific mention of repaying commercial paper and retiring the $600 million aggregate principal amount of 3.832% Notes due 2025 upon their maturity.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Jul 29, 2024)
L3Harris Technologies, Inc. (LHX) announced that its Chair and CEO, Christopher E. Kubasik, has established a Rule 10b5-1 trading plan for the exercise and sale of employee stock options. This pre-arranged plan is designed to comply with SEC regulations and the company's insider trading policies, and was initiated during an open trading window. Mr. Kubasik will not have discretion over the timing or price of sales under the plan. The plan involves vested options to purchase 56,624 shares, granted in February 2017, which are set to expire in February 2027. Sales of the underlying shares will commence in October 2024 and conclude by December 27, 2024, subject to predefined minimum price thresholds. This move indicates a structured approach to managing executive compensation and potential stock sales, with all transactions to be publicly disclosed.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q2 Ended Jun 28, 2024
L3Harris Technologies, Inc. (LHX) reported its financial results for the second quarter and first half of fiscal year 2024. The company demonstrated solid revenue growth, primarily driven by the inclusion of the Aerojet Rocketdyne (AJRD) acquisition and increased demand in its Communication Systems (CS) segment. Total revenue for the quarter increased by 13% year-over-year, reaching $5.3 billion, while first-half revenue grew 15% to $10.5 billion. Profitability saw an increase in operating income for both periods, with a notable 28% rise in the SAS segment for the quarter. However, diluted Earnings Per Share (EPS) for the first half of the year saw a slight decrease, primarily due to increased general and administrative expenses and higher interest expenses, partially offset by improved gross margins. The company continues to manage its debt effectively, having repaid significant portions of its term loan and notes, and maintains a strong liquidity position with ample availability under its credit facilities.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Jul 25, 2024)
L3Harris Technologies, Inc. (LHX) filed an 8-K on July 25, 2024, to furnish its second quarter 2024 financial results, which were released on July 25, 2024. While the filing itself doesn't contain the detailed financial data, it serves as the official notification that the earnings release is available. Investors should refer to the furnished Exhibit 99.1 for the specific figures, including revenue, earnings per share, and any forward-looking guidance provided by the company for the upcoming quarters or the full fiscal year. This report is primarily procedural, indicating the public dissemination of quarterly financial performance. The absence of detailed numbers within the 8-K itself means that the core financial insights and management commentary are contained within the associated earnings release. Investors should pay close attention to trends in revenue growth, profitability margins, and any updates to the company's strategic outlook or capital allocation plans as presented in the earnings release.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Jul 15, 2024)
L3Harris Technologies, Inc. (LHX) announced the retirement of Mr. Sean J. Stackley, Senior Vice President, Strategy, Growth & Technology, effective August 3, 2024. Mr. Stackley is a named executive officer and his departure represents a significant change in a key leadership role within the company. Investors should monitor the company's communications regarding the succession plan for this position to understand how L3Harris will continue to drive its strategy, growth, and technology initiatives. The filing also includes the standard cover page interactive data file.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q1 Ended Mar 29, 2024
L3Harris Technologies, Inc. reported a net income of $283 million ($1.48 diluted EPS) for the quarter ended March 29, 2024, a decrease from $337 million ($1.76 diluted EPS) in the prior year's quarter. This decline was primarily driven by increased general and administrative expenses, including LHX NeXt initiative costs, and higher interest expense related to recent debt issuances. The company saw a significant 17% increase in revenue to $5,211 million, largely due to the inclusion of Aerojet Rocketdyne (AJRD) revenue and growth in the Communication Systems (CS) and Space & Airborne Systems (SAS) segments. Despite the revenue growth, operating income slightly decreased due to higher unallocated corporate expenses, particularly those related to the LHX NeXt transformation program. The company continues to manage its liquidity effectively, with substantial credit facilities available and a strong backlog of $32.1 billion, providing visibility into future revenue. Key financial activities during the quarter included the issuance of $2.25 billion in new long-term debt to repay the Term Loan 2025, demonstrating active debt management. The company also returned capital to shareholders through dividends and share repurchases, signaling confidence in its financial position and future prospects. Investors should monitor the impact of ongoing integration of AJRD, continued execution of the LHX NeXt initiative, and the broader defense spending environment.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Apr 25, 2024)
L3Harris Technologies (LHX) filed an 8-K on April 25, 2024, to report its first quarter financial results for the period ending April 24, 2024. While the filing itself is brief and primarily serves to attach the earnings release, the key takeaway for investors is the availability of these Q1 2024 financial results. The earnings release, furnished as Exhibit 99.1, contains the detailed financial performance and operational highlights for the quarter. Investors should refer to the earnings release (Exhibit 99.1) for comprehensive details on revenue, profitability, segment performance, and any forward-looking guidance provided by the company. This 8-K filing signals the official dissemination of this crucial financial information, allowing for analysis and comparison against expectations and prior periods.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Bylaw Amendment (Apr 23, 2024)
L3Harris Technologies, Inc. (LHX) filed an 8-K on April 23, 2024, detailing the results of its 2024 Annual Shareholder Meeting held on April 19, 2024. The key outcome for investors is the overwhelming approval of all management-proposed initiatives, including the election of all fourteen director nominees, advisory approval of executive compensation, the adoption of the 2024 Equity Incentive Plan, and the ratification of Ernst & Young LLP as the independent auditor for the upcoming fiscal year. Furthermore, shareholders approved an amendment to the Restated Certificate of Incorporation to limit officer liability, a move designed to enhance corporate governance. The company also reported strong shareholder turnout, with approximately 89% of outstanding shares represented at the meeting, indicating significant investor engagement. A shareholder proposal regarding lobbying transparency was notably rejected.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Apr 10, 2024)
L3Harris Technologies, Inc. filed an 8-K on April 10, 2024, to announce a planned leadership transition in its accounting function. Effective May 1, 2024, John Cantillon will assume the role of Vice President and Principal Accounting Officer, succeeding Corliss J. Montesi. This change is part of a planned succession, and Ms. Montesi will remain with the company in a part-time capacity to facilitate the transition and support ongoing finance initiatives. The company stated there are no disagreements with Ms. Montesi concerning financial matters. The appointment of Mr. Cantillon brings extensive experience from his prior roles, including Vice President and Assistant Controller at L3Harris since December 2023, and various senior finance positions at Pratt & Whitney. His background as a certified public accountant and his educational credentials further bolster his qualifications for the role. This transition appears to be a strategic move to ensure continuity and leverage Mr. Cantillon's expertise in a key financial leadership position.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Mar 14, 2024)
L3Harris Technologies, Inc. (LHX) has announced the successful closing of a significant debt offering, raising $2.25 billion through the issuance of three tranches of notes: $750 million in 5.050% Notes due 2029, $750 million in 5.250% Notes due 2031, and $750 million in 5.350% Notes due 2034. This offering was conducted under the company's existing shelf registration statement. The primary purpose of this debt issuance was to refinance existing debt. Specifically, L3Harris utilized the net proceeds to repay its $2.25 billion senior unsecured term loan facility maturing in 2025. This move indicates a strategic management of the company's debt profile, potentially to secure more favorable terms, extend maturity dates, or free up credit lines. Investors should note the specific interest rates and maturity dates of the new notes, as well as the company's proactive approach to managing its capital structure.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Feb 23, 2024)
L3Harris Technologies (LHX) filed an 8-K on February 23, 2024, detailing a severance protection letter agreement with its CEO, Christopher E. Kubasik. This agreement, approved by the Board, provides severance benefits similar to the Company's Executive Change in Control Severance Plan, but with a reduced 'severance multiple' of 2 (instead of 3) and pro-rata bonus based on actual performance for terminations without cause or for good reason outside of a change-in-control period but before March 31, 2028. Additionally, the filing disclosed that Mr. Kubasik has established a Rule 10b5-1 trading plan to exercise vested stock options granted in 2016 and sell the underlying shares. This plan aims to comply with regulatory requirements and the Company's insider trading policies, with sales to occur between May and June 2024, subject to specific price thresholds. These actions provide clarity on executive compensation arrangements and potential future stock transactions.
L3HARRIS TECHNOLOGIES, INC. /DE/ Annual Report, Year Ended Dec 29, 2023
L3Harris Technologies, Inc. (LHX) reported solid performance in its fiscal year ending December 29, 2023, marked by significant growth driven by strategic acquisitions and organic expansion across its key segments. The company's revenue increased by 14% year-over-year, largely attributed to the full-year impact of the Tactical Data Links (TDL) acquisition and the significant Aerojet Rocketdyne (AJRD) acquisition completed in July 2023. These acquisitions have reshaped the company's operational landscape, with AJRD forming the new Aerojet Rocketdyne (AR) segment, bolstering L3Harris's capabilities in propulsion, power, and armament. Operationally, L3Harris demonstrated resilience and strategic focus. The Space & Airborne Systems (SAS) segment saw revenue growth and improved operating margin, while the Integrated Mission Systems (IMS) segment remained stable. The Communication Systems (CS) segment experienced substantial revenue and operating income growth, partly due to the TDL acquisition. Despite challenges such as inflation and supply chain disruptions, the company's backlog increased significantly to $32.7 billion. L3Harris also advanced its "LHX NeXt" initiative, aimed at enhancing organizational agility and performance, and continues to prioritize returning capital to shareholders through dividends and share repurchases.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Material Agreement (Jan 31, 2024)
L3Harris Technologies, Inc. (LHX) has established a new $1.5 billion, 364-day senior unsecured revolving credit facility, effective January 26, 2024. This new facility replaces a prior $2.4 billion facility that was set to mature in March 2024. The company incurred no early termination penalties for closing the prior facility early. This action signals a proactive approach to managing its liquidity and debt instruments, ensuring continued access to funding.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Jan 25, 2024)
L3Harris Technologies, Inc. (LHX) filed an 8-K on January 25, 2024, to report its fourth quarter and full-year 2023 financial results. The core of this filing is the furnished earnings release (Exhibit 99.1), which provides investors with the company's latest financial performance data. While the 8-K itself doesn't contain detailed financial tables or narrative analysis, it serves as the official notification and vehicle for delivering the earnings release to the SEC, making it a crucial document for tracking the company's financial health and operational updates. Investors should refer to the earnings release (Exhibit 99.1) for specific details on revenue, earnings per share (EPS), segment performance, and any forward-looking guidance. The filing highlights that this information is furnished, not filed, meaning it's for informational purposes and doesn't carry the same legal implications under Section 18 of the Exchange Act as a formally filed document. However, it's essential for understanding L3Harris's recent financial standing and strategic direction as communicated by management.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Dec 29, 2023)
L3Harris Technologies, Inc. (LHX) has filed an 8-K report detailing a separation agreement with Michelle L. Turner. The agreement, approved by the Compensation Committee, outlines a comprehensive severance package for Ms. Turner, who will depart the company within 60 days of December 29, 2023. This package includes a significant cash payment of $1.6 million (one year's base salary and target bonus), an additional $951,200 in lieu of annual incentive plan payments, $18,000 for outplacement services, and $500,000 for transitional assistance. Furthermore, the agreement ensures 12 months of COBRA coverage at active employee rates and classifies Ms. Turner's departure as an involuntary separation for equity and other post-separation benefits. These provisions are contingent upon Ms. Turner releasing all claims against L3Harris and adhering to confidentiality, non-solicitation, and non-competition clauses for one year. Investors should note this as a material event impacting executive compensation and company operational continuity.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Dec 15, 2023)
L3Harris Technologies (LHX) announced that its CEO, Christopher E. Kubasik, has established a pre-arranged trading plan for employee stock options. This plan, designed to comply with Rule 10b5-1, allows for the exercise of vested options and the subsequent sale of shares. The purpose is to diversify Mr. Kubasik's holdings while adhering to company policies and securities regulations. The plan specifically covers 46,258 stock options granted in 2015 that are set to expire in 2025. Sales under this plan will commence in March 2024 and conclude by early April 2024, subject to predetermined minimum price thresholds. This action by the CEO is being taken during an open trading window and with no discretion over the timing or pricing of the sales once the plan is in place, ensuring compliance with insider trading rules. The company clarified that it will not routinely report on similar plans established by other executives.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Material Agreement (Dec 11, 2023)
L3Harris Technologies (LHX) has entered into a cooperation agreement with D. E. Shaw, a significant shareholder. This agreement includes the immediate appointment of two new directors, Kirk S. Hachigian and William H. Swanson, to the Board, both with extensive experience in industrial and aerospace/defense sectors, respectively. These directors will be nominated for election at the 2024 annual meeting. The agreement also mandates the formation of a Business Review Committee to assess operational performance, cost structure, and shareholder value enhancement opportunities. D. E. Shaw will also identify an additional independent director for potential appointment and nomination. This development signals a proactive engagement between L3Harris and a key investor to drive strategic improvements and enhance shareholder value. The inclusion of experienced industry veterans on the Board, coupled with a dedicated committee for business review, suggests a focus on operational efficiency and potential portfolio optimization. Investors should monitor the findings and recommendations of the Business Review Committee and the integration of the new directors into the Board's governance.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Executive Changes (Dec 4, 2023)
L3Harris Technologies, Inc. (LHX) has announced a significant leadership change in its finance department with the appointment of Kenneth L. Bedingfield as the new Senior Vice President and Chief Financial Officer, effective December 11, 2023. Mr. Bedingfield brings extensive experience from his previous roles, including CEO of Epirus, Inc., and Corporate Vice President and CFO at Northrop Grumman Corporation. This transition involves the departure of Michelle L. Turner, with whom the company states there are no disagreements regarding financial matters. Investors should note the comprehensive compensation package offered to Mr. Bedingfield, which includes a base salary of $850,000, annual incentive targets of 100% of base salary, and significant equity awards. Additionally, he will receive a $200,000 sign-on bonus and is covered by the company's standard severance and change-in-control plans, providing a degree of financial security for both the executive and the company.
L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q3 Ended Sep 29, 2023
L3Harris Technologies, Inc. (LHX) reported a strong third quarter and first nine months of 2023, driven by significant revenue growth and strategic acquisitions. Total revenue for the quarter increased by 16% year-over-year to $4.9 billion, and for the first nine months, it rose 13% to $14.1 billion. This growth was largely fueled by the recent acquisitions of Aerojet Rocketdyne (AJRD) and Viasat's Tactical Data Links (TDL) business, which have expanded the company's capabilities and market reach, particularly in missile solutions and communication systems. Despite increased interest expenses due to higher debt levels from these acquisitions, the company maintained solid profitability. Net income attributable to L3Harris for the quarter was $383 million ($2.02 per diluted share), a significant improvement from a net loss in the prior year's comparable quarter. For the first nine months, net income was $1.1 billion ($5.61 per diluted share). The company's strategic focus on integrating these acquisitions and managing operational efficiencies positions it well for future growth, supported by a robust backlog of $31.8 billion.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Oct 26, 2023)
L3Harris Technologies (LHX) filed an 8-K on October 26, 2023, to report its third quarter financial results for the period ending October 25, 2023. The filing includes an Investor Letter (Exhibit 99.2) and a press release (Exhibit 99.1) detailing these results. While this 8-K is primarily for informational purposes and the furnished information is not considered "filed" under Section 18 of the Exchange Act, it provides investors with key performance indicators and financial condition updates for the quarter. Investors should review the accompanying Investor Letter and press release for specific details on the company's performance, including revenue, earnings, and any forward-looking guidance or strategic updates. The filing serves as the official channel for disseminating this critical quarterly financial information to the public.
L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Jul 31, 2023)
L3Harris Technologies, Inc. (LHX) has filed an 8-K report to disclose the closing of a significant debt offering. The company successfully issued and sold a total of $3.25 billion in aggregate principal amount of senior notes across three tranches: $1.25 billion of 5.400% Notes due 2027, $1.5 billion of 5.400% Notes due 2033, and $500 million of 5.600% Notes due 2053. This offering was conducted under the company's existing shelf registration statement. This substantial capital raise suggests L3Harris is either funding existing or future strategic initiatives, potential acquisitions, or refinancing existing debt. Investors should note the specific coupon rates and maturity dates of these notes, which indicate the cost of capital and the long-term nature of this financing. The issuance was managed by BofA Securities, Inc. and J.P. Morgan Securities LLC.