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Business/Financial

L3Harris Reports Strong Second Quarter Results; Portfolio Shaping Nearly Done

By Cal Biesecker

Tuesday, August 3rd, 2021

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L3Harris Reports Strong Second Quarter Results; Portfolio Shaping Nearly Done

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

L3Harris Technologies [LHX] on Tuesday reported strong second quarter financial results with a double-digit gain in earnings and solid organic growth and the company announced the sale of two defense electronics businesses in deals that signaled the end is near with divestitures of non-core units. Net income increased 49 percent to $413 million, $2.01 earnings per share (EPS), from $278 million ($1.30 EPS) a year ago, with the gains driven by cost savings synergies, operational improvements, higher sales, pension and…

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