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Business/Financial

L3Harris’ Earnings Fall In Fourth Quarter Despite Solid Sales Gains

By Cal Biesecker

Friday, January 27th, 2023

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L3Harris’ Earnings Fall In Fourth Quarter Despite Solid Sales Gains

Christopher "Chris" Kubasik, chairman and CEO of L3Harris Technologies. Photo: L3Harris

L3Harris Technologies [LHX] last Thursday posted lower net income in its fourth quarter due to ongoing macroeconomic issues while sales grew on the strength of the tactical radio, space and classified programs. The “Macroeconomic environment remains dynamic,” Christopher Kubasik, chairman and CEO of L3Harris, said in the company’s investor letter that was released after the markets closed last Thursday. Inflation remains a bugaboo, raising material and labor costs and in turn lowering operating margin. L3Harris projects about a $400 million…

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