:

Business/Financial

L3Harris Posts Lower Income, Higher Sales In First Quarter; Kubasik Defends AJRD Bid

By Cal Biesecker

Friday, April 28th, 2023

SHARE:

L3Harris Posts Lower Income, Higher Sales In First Quarter; Kubasik Defends AJRD Bid

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

L3Harris Technologies [LHX] last Thursday reported a sharp drop in first quarter earnings driven by higher interest and pension expenses and a combination of costs related to acquisitions and divestitures despite strong sales. Net income slid 29 percent to $339 million, $1.76 earnings per share (EPS), from $475 million ($2.44 EPS) a year ago. Excluding costs related to acquisitions, divestitures and integrations, L3Harris generated per share earnings of $2.86, a penny above analysts’ estimates. Sales increased 9 percent to $4.5…

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]