Free Research Report as L3 Technologies’ Earnings Soared 46%
Stock Monitor: Triumph Group Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 02, 2018 / Active-Investors.com has just released a free earnings report on L3 Technologies, Inc. (NYSE: LLL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LLL. L3 Technologies reported its fourth quarter and fiscal 2017 operating and financial results on January 25, 2018. The communications and surveillance company outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Triumph Group, Inc. (NYSE: TGI), which also belongs to the Industrial Goods sector as the Company L3 Technologies. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=TGI
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, L3 Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=LLL
Earnings Highlights and Summary
For the 2017 fourth quarter, L3 Technologies' consolidated net sales dropped 3% to $2.57 billion compared to net sales of $2.64 billion in Q4 2016. Due to the calendarization of the Company's fiscal quarter end dates, Q4 2017 had 7% less business days compared to Q4 2016. L3 Technologies' reported numbers came in ahead of analysts' estimates of $2.55 billion.
For the year ended December 31, 2017 (FY17), L3 Technologies' consolidated net sales of $9.57 billion grew 4% compared to the year ended December 31, 2016 (FY16) sales of $9.21 billion.
L3 Technologies' operating income fell 7% to $263 million on a y-o-y basis for Q4 2017. The Company's operating margin decreased by 50 basis points to 10.2% in the reported quarter compared to 10.7% for the year earlier corresponding quarter. For Q4 2017, L3 Technologies' operating margin was negatively impacted by 150 basis points due to severance and restructuring costs of $39 million, partially offset by 100 basis points primarily due to improved contract performance for the Electronic Systems, Aerospace Systems, and Communication Systems segments.
L3 Technologies reported net income from continuing operations of $267 million, or $3.34 per diluted share, compared to earnings from continuing operations of $183 million, or $2.32 per diluted share, for Q4 2016. The Company's reported quarter results included an estimated tax benefit of $79 million, or $0.99 per diluted share, related to the recent enactment of the US Tax Cuts and Jobs Act (Tax Reform). L3 Technologies' adjusted earnings totaled $2.35 per share, which was ahead of Wall Street's estimates of $2.30 per share.
L3 Technologies' earnings from continuing operations increased to $753 million, or $9.46 per diluted share, for FY17 compared to earnings of $619 million, or $7.86, for FY16. The Company's reported period results included $0.99 of estimated tax benefits related to US Tax Reform.
L3 Technologies' Segment Results
During Q4 2017, the Electronic Systems segment's net sales fell 7% to $803 million on a y-o-y basis. The segment's operating income edged up 1% to $110 million on a y-o-y basis for the reported quarter, while operating margin increased by 100 basis points to 13.7%.
For Q4 2017, the Aerospace Systems segment's net sales were marginally lower at $727 million compared to $728 million in Q4 2016. The segment's operating income for the reported quarter advanced 16% to $58 million on a y-o-y basis, while operating margin increased by 110 basis points to 8.0%.
The Communication Systems segment's net sales grew 3% to $602 million on a y-o-y basis for Q4 2017, primarily driven by Broadband Communication Systems due to increased deliveries of secure networked communication systems primarily for the US Department of Defense (DoD). The segment's operating income fell 16% to $47 million and operating margin decreased by 180 basis points to 7.8% for the reported quarter.
For Q4 2017, the Sensor Systems segment totaled $442 million, down 6% on a y-o-y basis. The segment's operating income for the reported quarter decreased by 28% to $48 million on a y-o-y basis, while operating margin decreased by 330 basis points to 10.9%.
Order Update
L3 Technologies' funded orders declined 10% to $2.73 billion for Q4 2017 compared to $3.04 billion for Q4 2016. The Company's funded orders increased 5% to $10.00 billion for FY17 compared to $9.52 billion for FY16. L3 Technologies' book-to-bill ratio was 1.06x for the reported quarter and 1.04x for FY17. The Company's funded backlog increased 6% to $8.88 billion at December 31, 2017, compared to $8.38 billion at December 31, 2016.
Cash Matters
L3 Technologies' net cash from operating activities from continuing operations was $986 million for FY17 compared to $1.02 billion for FY16. The Company paid dividends of $236 million during FY17 compared to $220 million during FY16. L3 Technologies repurchased $180 million of its common stock during FY17 compared to $373 million during FY16.
Stock Performance Snapshot
February 01, 2018 - At Thursday's closing bell, L3 Technologies' stock was slightly up 0.76%, ending the trading session at $214.08.
Volume traded for the day: 577.97 thousand shares.
Stock performance in the last month – up 7.97%; previous three-month period – up 14.37%; past twelve-month period – up 35.83%; and year-to-date – up 8.20%
After yesterday's close, L3 Technologies' market cap was at $16.72 billion.
Price to Earnings (P/E) ratio was at 29.43.
The stock has a dividend yield of 1.40%.
The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry. This sector was up 0.2% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
