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Business/Financial

L3Harris Opens With Strong Third Quarter; Raises Earnings Outlook

By Cal Biesecker

Wednesday, October 30th, 2019

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L3Harris Opens With Strong Third Quarter; Raises Earnings Outlook

L3Harris Technologies Chairman and CEO William Brown. Photo: L3Harris Technologies

L3Harris Technologies [LHX] on Wednesday posted strong third quarter consolidated sales and earnings that combine the results of the former Harris Corp. and L3 Technologies and raised its guidance for earnings this year. Pro forma sales increased 10 percent to $4.4 billion from $4 billion a year ago and adjusted operating income grew 25 percent to $766 million, $2.58 earnings per share (EPS), from $612 million ($2.04 EPS), topping consensus estimates by 21 cents per share. Adjusted operating margins were…

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