Harris Corporation (HRS) Beats on Q1 Earnings

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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 three of the last four quarters, with an average beat of 2.9%.

Zacks Rank : Currently, Harris Corporation has a Zacks Rank #2 (Buy) but that could change following the company's earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings : Harris Corporation's earnings of $1.38 per share in the first quarter of fiscal 2018 beat the Zacks Consensus Estimate of $1.35. Earnings however declined 0.7% on a year over year basis.

Revenue : Revenues in the first quarter came in at $1,413 million lagging the Zacks Consensus Estimate of $1,424.8 million.

Harris Corporation Price and EPS Surprise

Harris Corporation Price and EPS Surprise | Harris Corporation Quote

Key Stats : The company's projections for fiscal 2018 remain unchanged. It still expects earnings per share (on an adjusted basis) in fiscal 2018 in the band of $5.85 to $6.05 per share. The Zacks Consensus Estimate for fiscal 2018 currently stands at $5.98 per share. The company expects fiscal 2018 revenues in the range of $6.02 - 6.14 billion, up 2-4% year-over-year. The Zacks Consensus Estimate currently stands at $6.08 billion for fiscal 2018. The company expects free cash flow for fiscal 2018 in the band of $850 - 900 million.

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.

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