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L3Harris Technologies, Inc. (LHX) is a major force in the aerospace and defense sector. Headquartered in Melbourne, Florida, the company has a market valuation of $40.2 billion and develops high-tech, mission-critical solutions spanning domains from air and land to space and cyber, serving governments and allied partners around the globe. L3Harris is scheduled to announce its first-quarter earnings on Thursday, Apr. 24, before the market opens.
Ahead of the event, analysts expect L3Harris to report a profit of $2.55 per share, down 16.7% from $3.06 per share in the year-ago quarter. Moreover, the company has consistently surpassed Wall Street’s adjusted EPS projections in each of the past four quarters.
Its adjusted earnings of $3.47 per share for the last quarter exceeded the consensus estimate by 1.2%, thanks to strong execution across its key business segments, improved operational efficiencies, and steady demand for defense technologies.
For fiscal 2025, analysts expect L3Harris to report an adjusted EPS of $11.08, down 15.4% from $13.10 in fiscal 2024. However, in fiscal 2026, its adjusted EPS is expected to grow 12.7% annually to $12.49.
Shares of L3Harris have soared 4% over the past year, trailing the S&P 500 Index’s ($SPX) 4.7% gains but outpacing the Industrial Select Sector SPDR Fund’s (XLI) 1.3% returns in the same timeframe.
Shares of L3Harris surged marginally on Jan. 30 as the company posted strong Q4 results, with revenue up 3% year over year to $5.5 billion, smashing estimates. Gains were driven by solid defense demand and cost-cutting efforts, including a 5% workforce reduction. Despite supply chain headwinds, the company raised its 2025 sales outlook to $21.8 billion to $22.2 billion, exceeding Wall Street forecasts.
The consensus opinion on LHX stock is moderately bullish, with an overall “Moderate Buy” rating. Among the 20 analysts covering the stock, 14 recommend a “Strong Buy,” five advise a “Hold,” and one suggests a “Strong Sell.”
LHX's average analyst price target is $259.45, indicating a potential upside of 21% from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
