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Earnings Beat at Harris Corporation (HRS) in Q4

Harris CorporationHRS , based in Melbourne, FL, leading supplier of communications equipment and services. The company has brought about a transformation pertaining to communications and information technology.

The company has a healthy track record with respect to earnings. The company has delivered positive earnings surprises in each of the last four quarters, with an average beat of 7.14%.

Zacks Rank : Currently, Harris Corporation has a Zacks Rank #4 (Sell) but that could change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings : Harris Corporation's adjusted earnings of $1.45 per share in the fourth quarter of fiscal 2016 (ended Jul 1, 2016) edging past the Zacks Consensus Estimate of $1.44 per share. Earnings improved 9.85% on a year over year basis. For full fiscal year 2016, the company reported earnings (on an adjusted basis) of 5.70 per share, in line with the Zacks Consensus Estimate.

HARRIS CORP Price and EPS Surprise

HARRIS CORP Price and EPS Surprise | HARRIS CORP Quote

Revenue : Revenues in the fourth quarter came in at $1.90 billion missing the Zacks Consensus Estimate of $1.935 billion. Revenues improved 24.05% from the year-ago figure. For fiscal 2016, the company reported revenues of $7.47 billion, short of the Zacks Consensus Estimate of $7.515 billion. Revenues improved 47% on a year-over-year basis.

Key Stats : The company expects earnings per share (on an adjusted basis) in fiscal 2017 in the band of $5.70 to $5.90. The Zacks Consensus Estimate for fiscal 2017 currently stands at $5.93 per share, above the guidance range. The company expects fiscal 2017 revenues in the band of $7.11 billion to $7.33 billion. The Zacks Consensus Estimate currently stands at $7.565 billion for fiscal 2017, again above the guidance range.

Check back later for our full write up on this Harris Corporation earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.