L3Harris (LHX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
L3Harris (LHX) reported $4.92 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 15.8%. EPS of $3.19 for the same period compares to $3.26 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.82 billion, representing a surprise of +2.00%. The company delivered an EPS surprise of +4.25%, with the consensus EPS estimate being $3.06.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how L3Harris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Corporate eliminations: -$49 million versus the six-analyst average estimate of -$48.58 million.
Revenue- Integrated Mission Systems: $1.57 billion versus the six-analyst average estimate of $1.64 billion. The reported number represents a year-over-year change of -8.3%.
Revenue- Communication Systems: $1.26 billion versus $1.24 billion estimated by six analysts on average.
Revenue- Space and Airborne Systems: $1.69 billion versus $1.68 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +12.3% change.
Non-GAAP Operated Income - Integrated Mission System (IMS): $187 million versus $190.88 million estimated by six analysts on average.
Non-GAAP Operating Income - Communication Systems (CS): $282 million versus the six-analyst average estimate of $306.21 million.
Non-GAAP Operated Income - Space and Airborne Systems (SAS): $210 million compared to the $187.12 million average estimate based on six analysts.
View all Key Company Metrics for L3Harris here>>>
Shares of L3Harris have returned +0.3% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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L3Harris Technologies Inc (LHX) : Free Stock Analysis Report
