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L3Harris (LHX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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L3Harris (LHX - Free Report) reported $5.3 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 12.9%. EPS of $3.24 for the same period compares to $2.97 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.3 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of +1.89%, with the consensus EPS estimate being $3.18.
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: -$64 million versus -$49.64 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +39.1% change.
Revenue- Space and Airborne Systems: $1.71 billion versus the four-analyst average estimate of $1.74 billion. The reported number represents a year-over-year change of -0.5%.
Revenue- Aerojet Rocketdyne: $581 million versus the four-analyst average estimate of $595.08 million.
Revenue- Integrated Mission Systems: $1.73 billion versus $1.66 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.4% change.
Revenue- Communication Systems: $1.35 billion versus $1.34 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
Segment operating income- Aerojet Rocketdyne: $75 million versus the four-analyst average estimate of $70.27 million.
Segment operating income- Communication Systems (CS): $329 million versus $321.88 million estimated by four analysts on average.
Segment operating income- Space and Airborne Systems (SAS): $215 million versus the four-analyst average estimate of $210.59 million.
Segment operating income- Integrated Mission System (IMS): $206 million versus $186.93 million estimated by four analysts on average.
Shares of L3Harris have returned +6.1% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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L3Harris (LHX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
L3Harris (LHX - Free Report) reported $5.3 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 12.9%. EPS of $3.24 for the same period compares to $2.97 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.3 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of +1.89%, with the consensus EPS estimate being $3.18.
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: -$64 million versus -$49.64 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +39.1% change.
- Revenue- Space and Airborne Systems: $1.71 billion versus the four-analyst average estimate of $1.74 billion. The reported number represents a year-over-year change of -0.5%.
- Revenue- Aerojet Rocketdyne: $581 million versus the four-analyst average estimate of $595.08 million.
- Revenue- Integrated Mission Systems: $1.73 billion versus $1.66 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.4% change.
- Revenue- Communication Systems: $1.35 billion versus $1.34 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
- Segment operating income- Aerojet Rocketdyne: $75 million versus the four-analyst average estimate of $70.27 million.
- Segment operating income- Communication Systems (CS): $329 million versus $321.88 million estimated by four analysts on average.
- Segment operating income- Space and Airborne Systems (SAS): $215 million versus the four-analyst average estimate of $210.59 million.
- Segment operating income- Integrated Mission System (IMS): $206 million versus $186.93 million estimated by four analysts on average.
View all Key Company Metrics for L3Harris here>>>Shares of L3Harris have returned +6.1% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.