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Business/Financial

L3Harris Posts Higher Earnings, Lower Sales In Fourth Quarter

By Cal Biesecker

Monday, January 31st, 2022

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L3Harris Posts Higher Earnings, Lower Sales In Fourth Quarter

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

L3Harris Technologies [LHX] on Monday reported higher earnings despite lower sales in its fourth quarter, aided by ongoing performance initiatives and an easier comparison versus a year ago when the company suffered various charges related to the downturn in the commercial aerospace market and COVID-19 impacts. Net income in the quarter jumped 163 percent to $484 million, $2.46 earnings per share (EPS), from $184 million (92 cents EPS) a year ago. Adjusting for various pension items, impairment charges and integration…

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