Here's What Key Metrics Tell Us About L3Harris (LHX) Q4 Earnings

For the quarter ended December 2023, L3Harris (LHX) reported revenue of $5.34 billion, up 16.6% over the same period last year. EPS came in at $3.35, compared to $3.27 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $5.29 billion, representing a surprise of +0.98%. The company delivered an EPS surprise of +1.21%, with the consensus EPS estimate being $3.31.

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- Integrated Mission Systems: $1.63 billion versus the five-analyst average estimate of $1.71 billion. The reported number represents a year-over-year change of -10.2%.
  • Revenue- Space and Airborne Systems: $1.80 billion versus $1.73 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.
  • Revenue- Corporate eliminations: -$47 million versus the five-analyst average estimate of -$53.75 million.
  • Revenue- Communication Systems: $1.36 billion compared to the $1.29 billion average estimate based on five analysts.
  • Revenue- Aerojet Rocketdyne: $597 million versus the four-analyst average estimate of $604.28 million.
  • Non-GAAP Operated Income- Integrated Mission System (IMS): $194 million versus the five-analyst average estimate of $221.23 million.
  • Non-GAAP Operating Income- Communication Systems (CS): $356 million compared to the $336.11 million average estimate based on five analysts.
  • Non-GAAP Operated Income- Space and Airborne Systems (SAS): $191 million compared to the $174.75 million average estimate based on five analysts.
View all Key Company Metrics for L3Harris here>>>

Shares of L3Harris have returned -2.7% over the past month versus the Zacks S&P 500 composite's +2.5% 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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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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