HighGravityDataL3Harris Technologies — Oct 24, 2024 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000202058-24-000166
Showing in the filing
Revenue
“$21.1B - $21.3B (Prior: $21.0B - $21.3B)”
Period
FY2024
Measure
GAAP-tied
Source
Prose
All guidance in this release · 23
Revenue for FY2024
“$21.1B - $21.3B (Prior: $21.0B - $21.3B)”
Adjusted segment operating margin for FY2024
“~15.5% (Prior: 15.2% - 15.4%)”
Non-GAAP diluted EPS for FY2024
“$12.95 - $13.15 (Prior: $12.85 - $13.15)”
LHX NeXt savings target for FY2024
“at least $600 million”
LHX NeXt overall savings target
“$1 billion”
Overall cost savings target
“$1 billion”
LHX NeXt cost savings opportunity for the long term
“exceed the $1 billion target”
Segment operating margins for FY2026
“at least 16%”
Adjusted free cash flow for FY2024
“~$2.2B”
SAS Revenue for FY2024
“~$7,000”
SAS Operating margin for FY2024
“low 12%”
IMS Revenue for FY2024
“$6,600 - $6,700 (Prior: $6,500 - $6,700)”
IMS Operating margin for FY2024
“mid - high 11% (Prior: mid 11%)”
CS Revenue for FY2024
“~$5,400 (Prior: $5,300 - $5,400)”
CS Operating margin for FY2024
“mid - high 24% (Prior: mid 24%)”
AR Revenue for FY2024
“$2,400 - $2,500”
AR Operating margin for FY2024
“mid 12% (Prior: high 11%)”
FAS/CAS operating adjustment for FY2024
“~$30 million”
Non-service FAS pension income for FY2024
“~$310 million”
Net interest expense for FY2024
“~$660 million”
Effective tax rate on non-GAAP income for FY2024
“13.0% - 13.5%”
Average diluted shares for FY2024
“Flat”
Capital expenditures for FY2024
“~2% sales”
Exhibit 99.1 · the passage around this item
… earlier in the release
ion, up 8%, and 5% organically • Operating margin of 9.4%; adjusted segment operating margin of 15.7% • Diluted earnings per share (EPS) of $2.10; non-GAAP diluted EPS of $3.34 • 2024 revenue guidance range increased to $21.1B - $21.3B • 2024 adjusted segment operating margin guidance increased to ~15.5% • 2024 non-GAAP diluted EPS guidance range increased to $12.95 - $13.15 MELBOURNE, Fla., October 24, 2024 — L3Harris Technologies (NYSE: LHX) reported third quarter 2024 diluted EPS of $2.10, an increase of 4% from third quarter 2023, on third quarter 2024 revenue of $5.3 billion, an increase of 8%. Third quarter 2024 non-GAAP diluted EPS was $3.34, a 5% increase from third quarter 2023. A reconciliation of non-GAAP results are detailed in tables beginning on page 11 . "We delivered strong third-quarter results, highlighted by outstanding book-to-bill of 1.4x, solid organic growth, and while continuing to improve margins as we make progress toward the financial framework announced at our 2023 Investor Day. These results reaffirm that our Trusted Disruptor strategy is working, driving value for our customers, shareholders and employees," said Christopher E. Kubasik, Chair and CEO. Kubasik added, "We are making impressive progress on our LHX NeXt initiative and expect to exceed the 2024 cost savings target of $400 million. As a result, we are updating our 2024 savings target to at least $600 million and now expect
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.