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L3Harris Reports Solid Third Quarter; Efficiency Initiative Delivering

Cal Biesecker By
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L3Harris Reports Solid Third Quarter; Efficiency Initiative Delivering
L3Harris Technologies' radio business helped propel the company to a solid third quarter. Photo: L3Harris

L3Harris Technologies [LHX] last Thursday reported solid third quarter results with mid-single digit organic sales and net income growth. Net income rose 6 percent to $404 million, $2.10 earnings per share (EPS), from $382 million ($2.02 EPS) a year ago. Adjusted earnings, which exclude merger and acquisition expenses, restructuring and certain other costs, were $3.34 EPS, beating consensus expectations by nine cents per share. L3Harris touted its ongoing LHX NeXT efficiency initiative, which will save at least $600 million in…

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