L3Harris delivered a highly disappointing set of results for the previous quarter as it failed to meet Wall Street expectations in terms of revenues as well as earnings. The supply chain headwinds continued and the availability of electronic components stays volatile. The reduced margins and revenue have been responsible for the guidance decline in free cash flow and EPS. There was growth on the top line, and the booked CS grew in the quarter. Also, TACOM saw double-digit growth. There have been improvements in chemicals, components, and shipping. L3Harris performed well in the non-traditional prime business with a record quarter of more than $5 billion in funded orders. The company was selected for the Mideast aircraft missionization program; but the contract has been pushed now. Among major updates, L3Harris Technology recently announced the signing of one definitive agreement for acquiring the Tactical Data Links business of Viasat. We provide the stock of L3Harris with a ‘Hold’ rating with a revision in the target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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