L3harris Technologies ( (LHX) ) has released its Q4 earnings. Here is a breakdown of the information L3harris Technologies presented to its investors.
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L3Harris Technologies is a leading defense contractor specializing in communication, electronic, and avionics systems, known for its innovative solutions in the aerospace and defense industry.
L3Harris Technologies reported a strong financial performance for the fourth quarter and full-year 2024, with revenues reaching $21.3 billion, marking a 10% increase from the previous year. The company also achieved record orders of $24.2 billion, indicating robust demand across its business segments.
Key financial highlights include a 10% increase in operating income to $1.9 billion and a 22% rise in GAAP diluted EPS to $7.87 for the year. The company also reported significant cash flow growth, with cash from operations increasing by 22% to $2.6 billion. Notably, the Integrated Mission Systems segment saw a 9% revenue growth due to strong demand in aircraft missionization and advanced electronics.
The LHX NeXt initiative, which aims to enhance operational efficiency, resulted in $800 million in cost savings for 2024, exceeding targets. Looking forward, L3Harris plans to further enhance this initiative, with a new cost-saving goal of $1.2 billion by the end of 2025.
Looking ahead, L3Harris remains optimistic about 2025, forecasting continued growth driven by robust bookings and international opportunities. The company is poised to maintain its trajectory towards achieving its 2026 financial framework, focusing on sustaining profitable growth and delivering long-term value to stakeholders.
