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Earnings Up, Sales Dip At L3Harris In First Quarter

Cal Biesecker By
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Earnings Up, Sales Dip At L3Harris In First Quarter
L3Harris image of missile warning and tracking satellite

L3Harris Technologies [LHX] on Thursday posted strong first quarter earnings on lower corporate, divestiture, and business transformation costs, and higher operating earnings despite a slight drop in sales. Net income jumped 35 percent to $386 million, $2.04 earnings per share (EPS), from $285 million ($1.48 EPS) a year ago. Excluding merger and divestiture expenses, a divestiture-related loss, and costs associated with the company’s LHX NeXt transformation, adjusted earnings of $2.41 EPS were up 7 percent and topped consensus estimates by…

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