NYSE$LHX
L3Harris · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
L3Harris reported a revenue increase of 3% and diluted EPS of $2.37 for the fourth quarter of 2024.
L3Harris Technologies reported fourth-quarter revenue of $5.5 billion and diluted EPS of $2.37. The company's results reflect business growth and improved operational efficiencies, driving margin improvement. They also delivered on their financial commitments, underscoring their agility and position as the defense industry’s Trusted Disruptor, and achieved a record backlog of $34 billion.
- 2024 orders of $24.2 billion; book-to-bill of 1.14x
- 2024 revenue of $21.3 billion, up 10%, and 4% organically
- 2024 cash from operations of $2.6 billion, adjusted free cash flow of $2.3 billion
- 4Q24 revenue of $5.5 billion, up 3%, and 4% organically
Headline financials
Revenue & EPS history
L3Harris · Revenue · Quarterly
$5.52B
Revenue by segment
L3Harris · $3.86B total across 3 segments · Q4 2021
- Integrated Mission Systems$1.56B+6.3%40.3%
- Space & Airborne Systems$1.29B+2.4%33.3%
- Communication Systems$1.02B-10.9%26.4%
Forward guidance
L3Harris initiated its 2025 guidance, anticipating revenue between $21.8B - $22.2B and adjusted free cash flow of $2.4B - $2.5B.
Tailwinds
- Revenue Adjusted Segment Operating MarginSpace & Airborne Systems $6.9B - $7.1Blow 12%
- Integrated Mission Systems $7.0B - $7.2Blow 12%
- Communication Systems $5.6B - $5.7Bhigh 24%
- Aerojet Rocketdyne ~$2.5Bmid 12%
- Total Company $21.8B - $22.2Bmid - high 15%
Headwinds
- Guidance assumes a Continuing Resolution through March of 2025 and no other funding delays or impacts.
- The administration has issued several Executive Orders that are still being assessed but are not expected to have a significant impact on our 2025 results.
- However, as US Government contracting officers assess the impact of Executive Orders on new contracts, we could see an effect on our Q1 2025 bookings and revenue.
- Non-GAAP diluted EPS (Prior) $13.70 - $14.00
- Intangible amortization, net of income taxes ~(3.15)(3.40)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
+0.4%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.0%
Avg return
30 days after
56%
39 / 70 earnings
Positive
+11.3%
Q1 2009
Best reaction
-10.1%
Q3 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.3% | -5.8% | -2.0% | |
| Q4 2025 | -0.7% | -2.4% | +1.2% | |
| Q3 2025 | +3.0% | +1.5% | -2.9% | |
| Q2 2025 | +0.2% | +0.3% | +2.2% | |
| Q1 2025 | -0.0% | +2.3% | +9.8% | |
| Q4 2024 | +0.1% | -0.6% | -2.8% | |
| Q3 2024 | +2.8% | -0.3% | +1.0% | |
| Q2 2024 | -3.3% | -4.0% | -2.7% | |
| Q1 2024 | +3.3% | +3.1% | +7.5% | |
| Q4 2023 | +2.4% | +3.2% | +5.0% | |
| Q3 2023 | -2.7% | +2.1% | +8.7% | |
| Q2 2023 | -5.8% | -6.0% | -11.5% | |
| Q1 2023 | +0.3% | -2.6% | -8.1% | |
| Q4 2022 | +7.3% | +8.7% | +6.3% | |
| Q3 2022 | -0.5% | -3.5% | -8.5% | |
| Q2 2022 | +7.2% | +9.0% | +4.5% | |
| Q1 2022 | -3.7% | -1.5% | -0.1% | |
| Q4 2021 | -4.0% | -2.5% | +16.0% | |
| Q3 2021 | -1.2% | -1.3% | -4.0% | |
| Q2 2021 | +1.5% | +2.4% | +3.6% | |
| Q1 2021 | +1.2% | +4.0% | +4.2% | |
| Q4 2020 | -1.8% | +1.6% | +3.0% | |
| Q3 2020 | +4.6% | +12.5% | +19.3% | |
| Q2 2020 | -3.1% | -0.6% | +3.8% | |
| Q1 2020 | -2.3% | -3.1% | +6.8% | |
| Q4 2019 | +1.2% | +4.1% | -9.2% | |
| Q3 2019 | +1.6% | -4.0% | -0.9% | |
| Q2 2019 | -1.3% | +1.3% | +6.2% | |
| Q1 2019 | +0.8% | +1.1% | -3.8% | |
| Q4 2018 | +0.9% | -0.4% | +1.2% | |
| Q3 2018 | +2.1% | +4.9% | +4.0% | |
| Q2 2018 | +0.9% | -5.2% | -1.6% | |
| Q1 2018 | +1.4% | +2.3% | +4.3% | |
| Q4 2017 | +0.8% | +1.9% | +7.4% | |
| Q3 2017 | +0.4% | -1.4% | +3.9% | |
| Q2 2017 | +0.1% | -0.1% | +5.2% | |
| Q1 2017 | +1.0% | +1.3% | -1.3% | |
| Q4 2016 | +2.1% | +3.1% | +1.2% | |
| Q3 2016 | -2.2% | — | — | |
| Q2 2016 | +0.8% | — | — | |
| Q1 2016 | +0.0% | — | — | |
| Q4 2015 | -3.7% | — | — | |
| Q3 2015 | -1.3% | — | — | |
| Q2 2015 | +1.2% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | +0.2% | — | — | |
| Q4 2013 | +1.2% | — | — | |
| Q3 2014 | +1.2% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q1 2014 | +0.2% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q1 2013 | -0.9% | — | — | |
| Q4 2012 | +1.6% | — | — | |
| Q3 2012 | -5.8% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | -6.3% | — | — | |
| Q4 2011 | +6.1% | — | — | |
| Q3 2011 | -10.1% | — | — | |
| Q2 2011 | -5.0% | — | — | |
| Q1 2011 | -1.1% | — | — | |
| Q4 2008 | -1.9% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q3 2009 | +3.4% | — | — | |
| Q3 2010 | +3.4% | — | — | |
| Q2 2010 | -8.3% | — | — | |
| Q4 2009 | +11.3% | — | — | |
| Q1 2010 | +11.3% | — | — | |
| Q2 2009 | +11.3% | — | — | |
| Q1 2009 | +11.3% | — | — |
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