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MELBOURNE, Fla.--(BUSINESS WIRE)--The Board of Directors of L3Harris Technologies (NYSE: LHX) has declared a quarterly cash dividend of $1.25 per common share, payable Sept. 18, 2026, to shareholders of record as of the close of business on Sept. 4, 2026. About L3Harris Technologies L3Harris is the Trusted Disruptor in defense tech. With customers' mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains.

The trading activity of members of Congress continues to draw increased attention from retail traders, especially when committee assignments may lead to what some consider as conflict of interest trading activity.

Rep. Richard McCormick (R-Ga.) recently disclosed multiple stock transactions made in June, with two transactions making him the latest member of Congress to go long on defense stocks while Middle East tension is heightened.

The trades were part of several made by McCormick, including some buys and some sales.

The L3Harris Technologies purchase draws increased attention due to the committee assignments of McCormick.

The congressman serves on the House Armed Services Committee and the House Committee on Science, Space and Technology. He also serves on the Tactical Air and Land Forces subcommittee and the Space and Aeronautics subcommittee.

L3Harris serves the space, air, land, sea and cybersecurity sectors with commercial and government contracts. The company is a key government supplier.

The purchase by McCormick was made days before President Donald Trump invoked the Defense Production Act to address constraints on weapons.

With the purchase made and McCormick’s committee assignments, the trade will be closely followed.

McCormick’s Trading HistoryThis isn’t the first time McCormick has traded L3Harris stock, with the congressman previously selling shares in March and buying the stock back in 2025.

The congressman has made 98 trades since 2023, according to data from Quiver Quantitative. This includes trades of $264,0000 in 2023 and $415,000 in 2025. The congressman made no trades in 2024.

In 2026, the congressman has made $272,000 in trades, currently making more sales than buys for the firs time in a calendar year.

Image via Shutterstock

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ROCHESTER, N.Y.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) has received orders totaling $84 million in support of the U.S. Army for Next Generation Command and Control (NGC2) manpack Falcon® systems. The AN/PRC-158C systems include high-throughput Mobile Ad hoc NETworks (MANET) and highly resilient waveforms for assured communications in all conditions. This is L3Harris' second award in support of NGC2, following an initial $24 million order in October. The manpack systems will serve a.

MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) has delivered the VC-25B Bridge aircraft to the U.S. Air Force, marking a significant milestone in the modernization of the Air Force One fleet.

L3Harris transformed a 747-8i aircraft into the first VC-25B within 10 months, ensuring continuity of the Presidential Airlift mission as the current VC-25A aircraft age and next-generation aircraft remain under development. To meet this accelerated timeline, the team moved with urgency across three shifts with around-the-clock operations, demonstrating the depth, discipline and commitment required to deliver for the customer.

“Through a trusted, fast-tracked partnership with the Air Force, we have proven that the U.S. defense industrial base can move at maximum velocity when the mission demands it,” said Christopher Kubasik, Chairman and CEO, L3Harris. “L3Harris rose to the challenge, and we are deeply honored to deliver to the Commander-in-Chief a symbol of American strength that meets the nation’s highest standards without compromise.”

The VC-25B provides the Office of the President with an airborne command post equipped with a new communications system that enables resilient, secure connectivity to respond to global events without disruption. This unprecedented delivery reflects L3Harris’ decision to invest early in the program - ahead of formal demand - so that capacity, talent and production readiness were in place when the customer needed them.

As a global leader in aerospace integration and aircraft missionization, L3Harris delivers high-performance, integrated solutions for head-of-state transport and VIP aircraft worldwide. The company equips national leaders with actionable intelligence, secure communications and advanced protection systems to support no-fail missions.

About L3Harris Technologies

L3Harris is the Trusted Disruptor in defense tech. With customers’ mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. Visit L3Harris.com for more information.

-

KENNEDY SPACE CENTER, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) has successfully powered the historic launch of the Artemis II mission, providing propulsion and avionics for the first crewed journey toward the moon in more than 50 years.

“Artemis II marks a new era in human space exploration with the first crewed flight of NASA’s Space Launch System rocket and Orion spacecraft,” said Christopher Kubasik, Chairman and CEO, L3Harris. “We congratulate NASA and all our teammates on achieving liftoff, and we remain focused on supporting the Artemis II mission through its successful completion.”

L3Harris is supporting the Artemis II mission with more than 100 separate elements, including RS-25 engines for the Space Launch System core stage, the RL10 engine for the Interim Cryogenic Propulsion Stage and the Orion Main engine for the translunar injection burn. L3Harris also supplied in-space thrusters for course corrections, 40 advanced avionics systems for precision control and monitoring of the launch vehicle and the Orion audio system for continuous astronaut communications.

The 10-day mission around the moon will further demonstrate L3Harris capabilities in support of the Artemis campaign and NASA’s vision of a sustained human presence on the moon and, ultimately, Mars.

About L3Harris Technologies

L3Harris is the Trusted Disruptor in defense tech. With customers’ mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. Visit L3Harris.com for more information.

More News From L3Harris Technologies

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We bought four “new” holdings in the quarter. Two of the four — Blackstone and Otis — we have owned before. In IT, we exited Oracle and trimmed Broadcom. Our five-year investment in Oracle proved highly profitable as the company transitioned its business model from licensing to software-as-a-service. On the semiconductor side, we modestly reduced our position in Broadcom to fund our new investment in Taiwan Semiconductor.

WASHINGTON--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) has closed a $1 billion strategic investment from the Department of War (DoW) in its Missile Solutions (MSL) business, which it will use to expand and modernize facilities, accelerate research and development, and increase production capacity for critical national security technologies.

The investment from the DoW is in the form of a convertible preferred security of the MSL business, which will convert into common equity upon an initial public offering (IPO). In addition, the DoW will receive certain warrants to purchase common stock in MSL. As previously announced, L3Harris intends to pursue an IPO of MSL in the second half of 2026, pending market conditions.

L3Harris is investing billions to transform and grow its production operations at MSL in support of DoW priorities like PAC-3, THAAD, Tomahawk and Standard Missile. MSL was created in early 2026, bringing together the missile capabilities from across L3Harris, including the operations of legacy Aerojet Rocketdyne.

“This strategic partnership with the Department of War is a testament to the critical role L3Harris plays in our national security,” said Christopher Kubasik, Chairman and CEO, L3Harris. “The investment will allow us to accelerate innovation and enhance our ability to deliver the advanced capabilities our warfighters need to deter and defeat emerging threats. We are proud to partner with the DoW to ensure the resilience of our defense industrial base for years to come.”

The DoW investment, along with future IPO proceeds and other sources of capital, will be used to further a variety of expansion and modernization efforts at solid rocket motor production facilities in Camden, Arkansas; Huntsville, Alabama; and Orange, Virginia; among other sites.

L3Harris will remain the majority shareholder (>80%) in the new MSL business and will consolidate the financial results of MSL.

About L3Harris Technologies

L3Harris is the Trusted Disruptor in defense tech. With customers’ mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. Visit L3Harris.com for more information.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These forward-looking statements are based on L3Harris’ current views and assumptions and can change significantly in the future. Actual results and events may be significantly different from what is currently expected. Forward-looking statements may be identified by the use of the words such as “estimate,” “plan,” “shall,” “may,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “will,” “target,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Examples of forward-looking statements include statements about: an independently traded MSL company or the timing or consummation of any potential IPO; any demand for missile solutions capacity; future investments; the value of the investment and L3Harris’ role in an independently traded MSL company. L3Harris cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements.

The following factors, among others, could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements or historical performance: the impact of any legal challenge, protest or investigation in connection with the investment and any related transactions; any unexpected tax, accounting or regulatory treatment of the investment or to any transactions in connection therewith; the availability of government funding; the outcome of government determinations regarding its procurements; any adverse impacts on L3Harris other businesses or relationship with its customers, its suppliers or other contractors for whom L3Harris is a subcontractor or supplier; potential significant adverse consequences resulting from business disruptions or economic or political uncertainty; unexpected costs, liabilities, delays, legal proceedings or the ability to obtain regulatory approvals; unfavorable economic or market conditions; unexpected geo-political events; and other impairments to achieve benefits to L3Harris from the investment, in a timely manner or at all. In addition, important risk factors that could cause actual results or outcomes to differ from those expressed in the forward-looking statements are described in the “Risk Factors” sections of L3Harris’ Annual Report on Form 10-K for the year ended Jan. 2, 2026.

In presenting the forward-looking statements, L3Harris has made material assumptions which may prove incorrect about: the availability of government funding and the statutory and regulatory authority to expand capacity for the DoW’s critical missile programs, including any future direct or indirect purchases of propulsion systems; the continued demand for missile programs; and the estimates and forecasts of investments required to expand capacity for the DoW’s critical missile programs.

L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

No Offer or Solicitation

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

-

MELBOURNE, Fla.--(BUSINESS WIRE)--The Board of Directors of L3Harris Technologies (NYSE: LHX) has declared a quarterly cash dividend of $1.25 per common share, payable June 26, 2026, to shareholders of record as of the close of business on June 5, 2026.

About L3Harris Technologies

L3Harris is the Trusted Disruptor in defense tech. With customers’ mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. Visit L3Harris.com for more information.

More News From L3Harris Technologies

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The market expects Firefly Aerospace (FLY - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 4. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis space and defense technology company is expected to post quarterly loss of $0.50 per share in its upcoming report, which represents a year-over-year change of +69.7%.

Revenues are expected to be $73.82 million, up 32.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.97% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Firefly Aerospace?For Firefly Aerospace, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +13.52%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Firefly Aerospace will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Firefly Aerospace would post a loss of$0.48 per share when it actually produced a loss of -$0.38, delivering a surprise of +20.83%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Firefly Aerospace appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAnother stock from the Zacks Aerospace - Defense industry, L3Harris (LHX - Free Report) , is soon expected to post earnings of $2.53 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +5%. Revenues for the quarter are expected to be $5.42 billion, up 5.7% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for L3Harris has been revised 1.3% down to the current level. Nevertheless, the company now has an Earnings ESP of +1.29%, reflecting a higher Most Accurate Estimate.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that L3Harris will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) reports first quarter 2026 results.

Highlights

Orders of $7.8 billion; book-to-bill of 1.4x increases backlog to new record $40.7 billion Revenue of $5.7 billion, up 12%, and 15% organically* Operating margin of 11.4% up 120 bps; Segment operating margin of 15.7% up 10 bps GAAP diluted EPS of $2.72, up 33% Updates 2026 EPS guidance “We continue to execute against our Trusted Disruptor strategy with both urgency and discipline, leveraging speed and scale to meet the evolving needs of our customers. Our results reflect the strength of our portfolio and its alignment with the nation’s most critical defense missions. We operate in a dynamic global environment, where demand is accelerating and the future of warfare is driving near-term operational priorities. Across the portfolio, we quickly adapt to mission needs and scale our operations to meet increasing demand, accelerating growth across our enterprise,” said Christopher Kubasik, Chairman and CEO.

Kubasik added, “We delivered a strong start to the year with robust orders and revenue growth coupled with progress across our strategic priorities. We are well positioned for the next phase of growth and value creation, remain on track to deliver on our 2026 commitments and continue to advance toward the 2028 Financial Framework we outlined earlier this year.”

SUMMARY FINANCIAL RESULTS*

First Quarter

2026 Guidance

($ millions, except per share data)

2026

2025

Revenue

Space & Mission Systems

$

2,990

$

2,411

Communication & Spectrum Dominance

1,855

1,809

Missile Solutions

990

840

Intersegment

(91

)

(74

)

Segment revenue

5,744

4,986

Other1

—

146

Revenue

$

5,744

$

5,132

$23B - $23.5B

Operating income

Space & Mission Systems

$

313

$

238

Communication & Spectrum Dominance

465

443

Missile Solutions

124

96

Segment operating income

902

777

Unallocated corporate items and other, net1 (see Table 4)

(250

)

(252

)

Operating income

$

652

$

525

Operating margin

11.4

%

10.2

%

Segment operating margin

15.7

%

15.6

%

low 16%

Tax rate

Effective tax rate

13.1

%

15.9

%

GAAP EPS

Diluted EPS

$

2.72

$

2.04

$11.40 - $11.60

(Prior: $11.30 - $11.50)

Diluted weighted-average common shares outstanding

188.1

189.1

Cash flow

Cash used in operations

$

(95

)

$

(42

)

Free cash flow2

$

(187

)

$

(101

)

$3.0B

1 Includes other non-reportable businesses, which is the divested Commercial Aviation Solutions business ("CAS disposal group").

2 Free cash flow is a non-GAAP Financial Measure defined and reconciled to GAAP in Table 6. Net cash provided by operating activities is anticipated to be approximately $3.6 billion and capital expenditures are anticipated to be approximately $600M.

* Organic revenue is a non-GAAP Financial Measure defined and reconciled to GAAP in Table 5.

Revenue: Increased $612 million, up 12%, and 15% organically, driven by growth across all segments reflecting new program ramps and increased international volume.

Operating Income: Increased $127 million, up 24%. Operating margin was 11.4%, up 120 bps. The improvement in operating income was primarily driven by a $125 million increase in segment operating income due to strong growth in the quarter and a decline in unallocated corporate items and other, net costs.

Segment Operating Income: Increased $125 million, up 16%. Segment operating margin was 15.7%, up 10 bps. Segment operating income grew across all segments due to increased volume, improved program performance and higher monetization of legacy assets aligned with our transformation and value creation priorities, partially offset by higher growth in businesses with lower average margin and increased investments in go-to-market activities and research and development.

Diluted EPS: Increased 33% to $2.72 driven by higher operating income, lower interest expense due to lower total outstanding debt, including both short-term and long-term debt, and a lower effective tax rate, partially offset by lower FAS pension income.

Cash Flow: Cash used in operations was ($95) million, impacted by timing of cash receipts coupled with higher cash disbursements. Capital expenditures were ($99) million, contributing to free cash flow of ($187) million.

SEGMENT RESULTS

Space & Mission Systems

First Quarter

($ millions)

2026

2025

Increase

Revenue

$

2,990

$

2,411

24%

Operating margin

10.5

%

9.9

%

60 bps

Revenue: Increased 24%, primarily from the ramp in activity in our ISR business on classified and international missionized aircraft programs, including a milestone related to material procurement in support of classified contracts, as well as higher volume in Space, Mission Networks and Maritime programs partially offset by lower classified volume in our intel products and solutions business.

Operating Margin: Increased 60 bps to 10.5% driven by improved program performance, partially offset by increased material procurement in programs with lower average margins and increased investments in research and development.

Communication & Spectrum Dominance

First Quarter

($ millions)

2026

2025

Increase

Revenue

$

1,855

$

1,809

3%

Operating margin

25.1

%

24.5

%

60 bps

Revenue: Increased 3%, primarily driven by increased volume for night vision devices, international software-defined resilient communications and the ramp in activity on the Next Generation Jammer Electronic Warfare program.

Operating Margin: Increased 60 bps to 25.1% primarily driven by increased sales associated with higher margin products in night vision devices and software-defined resilient communications as well as the favorable settlement of a legal matter, partially offset by increased investments in customer demonstrations, prototypes, and research and development.

Missile Solutions

First Quarter

($ millions)

2026

2025

Increase

Revenue

$

990

$

840

18%

Operating margin

12.5

%

11.4

%

110 bps

Revenue: Increased 18% from higher production volumes across key missile and munition programs, including those prioritized by the Department of War's ("DoW") Munitions Acceleration Council, and space propulsion programs as well as new program ramps.

Operating Margin: Increased 110 bps to 12.5%, primarily due to the monetization of legacy assets aligned with our transformation and value creation priorities, partially offset by net unfavorable EAC adjustments.

Forward-Looking Statements

This earnings release contains forward-looking statements within the meaning of federal securities laws made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples include, but are not limited to: planned investments; 2026 guidance; the impact of recent and expected contract awards; the 2028 financial framework; divestiture timing; planned public offering by Missile Solutions; the impact of the global security environment; projections of other financial items; and assumptions underlying any of the foregoing. Investors should not place undue reliance on forward-looking statements, which reflect management’s current expectations, estimates, projections, assumptions and information currently available to management, and are not guarantees of future performance or actual results. Important risks that could cause our results to differ materially from those expressed in or implied by these forward-looking statements or from our historical results include, but are not limited to, risks arising from: competitive markets; U.S. Government spending priorities; changes in contract mix; unilateral contract action by the U.S. Government or unexpected issues related to the DoW's investment in our subsidiary; uncertain economic conditions; future geo-political events; supply chain disruptions; indebtedness; interest rates and other market factors; and changes in effective tax rate or additional tax exposures. These and other important risks that could impact forward-looking statements are described more fully in the "Risk Factors" in our Form 10-K for fiscal 2025. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are qualified by the cautionary statements in this section, and we have no duty to and disclaim any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events or developments or otherwise.

Table 1 - Condensed Consolidated Statement of Operations (Unaudited)

  First Quarter

($ millions, except per share amounts)

2026

2025

Revenue

$

5,744

$

5,132

Cost of revenue

(4,342

)

(3,782

)

General and administrative expenses

(750

)

(825

)

Operating income

652

525

Non-service FAS pension income and other, net1

73

84

Interest expense, net

(136

)

(150

)

Income before income taxes

589

459

Income taxes

(77

)

(73

)

Net income

$

512

$

386

Earnings per share attributable to common shareholders

Basic

$

2.74

$

2.05

Diluted

$

2.72

$

2.04

Weighted-average common shares outstanding

Basic

186.8

188.5

Diluted

188.1

189.1

1“FAS” is defined as Financial Accounting Standards.

Table 2 - Condensed Consolidated Balance Sheet (Unaudited)

  ($ millions)

April 3, 2026

January 2, 2026

Assets

Current assets

Cash and cash equivalents

$

590

$

1,069

Receivables, net

1,912

1,371

Contract assets

3,530

3,566

Inventories, net

1,234

1,219

Other current assets

702

484

Assets of business held for sale

926

884

Total current assets

8,894

8,593

Non-current assets

Property, plant and equipment, net

2,658

2,665

Goodwill

19,999

20,010

Intangible assets, net

6,331

6,509

Deferred income taxes

71

76

Other non-current assets

3,427

3,342

Total assets

$

41,380

$

41,195

Liabilities and equity

Current liabilities

Short-term debt

$

350

$

—

Current portion of long-term debt

1,816

673

Accounts payable

1,930

2,461

Contract liabilities

2,736

2,262

Compensation and benefits

391

482

Other current liabilities

1,267

1,235

Liabilities of business held for sale

111

113

Total current liabilities

8,601

7,226

Non-current liabilities

Long-term debt, net

9,191

10,443

Deferred income taxes

1,225

1,114

Other non-current liabilities

2,683

2,777

Total liabilities

21,700

21,560

Total equity

19,680

19,635

Total liabilities and equity

$

41,380

$

41,195

Table 3 - Condensed Consolidated Statement of Cash Flows (Unaudited)

  First Quarter

($ millions)

2026

2025

Operating Activities

Net income

$

512

$

386

Adjustments to reconcile to net cash used in operating activities:

Depreciation and amortization

282

301

Share-based compensation

21

19

Net periodic benefit income

(70

)

(84

)

Share-based matching contributions under defined contribution plans

62

68

Deferred income taxes

119

(89

)

(Increase) decrease in:

Receivables, net

(623

)

(447

)

Contract assets

72

(420

)

Inventories, net

(17

)

92

Other current assets

(218

)

(19

)

Increase (decrease) in:

Accounts payable

(527

)

52

Contract liabilities

461

(16

)

Compensation and benefits

(87

)

(105

)

Other current liabilities

(15

)

11

Income taxes

(7

)

273

Other operating activities

(60

)

(64

)

Net cash used in operating activities

(95

)

(42

)

Investing Activities

Capital expenditures

(99

)

(59

)

Proceeds from disposal of property, plant and equipment, net

7

—

Proceeds from sales of businesses, net of cash divested

—

831

Other investing activities

(5

)

(28

)

Net cash (used in) provided by investing activities

(97

)

744

Financing Activities

Repayments of long-term debt

(106

)

(5

)

Change in commercial paper, net

350

20

Repurchases of common stock

(296

)

(569

)

Dividends paid

(238

)

(228

)

Other financing activities

6

(23

)

Net cash used in financing activities

(284

)

(805

)

Effect of exchange rate changes on cash and cash equivalents

(3

)

5

Net decrease in cash and cash equivalents

(479

)

(98

)

Cash and cash equivalents, beginning of period

1,069

615

Cash and cash equivalents, end of period

$

590

$

517

Table 4 - Unallocated Corporate Items (Unaudited)

  First Quarter

($ millions)

2026

2025

Unallocated corporate items:

Amortization of acquisition-related intangibles

$

173

$

194

LHX NeXt implementation costs1

—

35

Business divestiture-related losses1

10

17

Acquisition, divestiture and transaction-related expenses1

30

17

Other unallocated corporate items

37

12

Unallocated corporate items

250

275

Other non-reportable businesses2

—

(23

)

Unallocated corporate items and other, net

$

250

$

252

  1 Refer to Key Terms on page 10.

2 Includes the divested CAS disposal group.

Table 5 - Organic Revenue Non-GAAP Financial Measure Reconciliation (Unaudited)

  First Quarter

2025

($ millions)

GAAP

Adjustments

Organic1

Revenue

$

5,132

$

(146

)

$

4,986

1 Organic revenue is a non-GAAP Financial Measure as defined by Regulation G. We use organic revenue to exclude revenue attributable to our divested CAS disposal group in prior periods.

Table 6 - Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow - Non-GAAP Financial Measures Reconciliation (Unaudited)

  First Quarter

($ millions)

2026

2025

Net cash used in operating activities

$

(95

)

$

(42

)

Capital expenditures

(99

)

(59

)

Proceeds from disposal of property, plant and equipment, net

7

—

Free cash flow1

$

(187

)

$

(101

)

1 Free cash flow is a non-GAAP Financial Measure as defined by Regulation G. We use free cash flow to evaluate business performance and overall liquidity, and it is a performance metric in our annual incentive plan. We believe free cash flow is useful because it represents the cash generated from operations after reinvesting in our business that may be available to return to stockholders and creditors (through dividends, stock repurchases and debt repayments) or available to fund acquisitions or other investments. The entirety of free cash flow amount is not available for discretionary expenditures, however, because of certain mandatory expenditures, such repayment of debt.

Key Terms

Description

Definition

Business divestiture-related losses

In 2026, includes a loss recognized in connection with the Space Technology disposal group, which consists of certain product lines of our Space Propulsion and Power Systems sector and the space portion of our Space & Sensors division reported in our Mission Solutions segment. In 2025, includes a loss recognized in connection with the CAS disposal group divestiture.

Acquisition, divestiture and transaction-related expenses

Transaction and integration expenses associated with the Aerojet Rocketdyne acquisition in 2025; external costs related to pursuing acquisition and divestiture portfolio optimization; non-transaction costs related to divestitures; costs related to the carve-out and planned MSL public offering; salaries of employees in roles dedicated to planned strategic transaction activity; and resolution of a procurement contract matter.

LHX NeXt implementation costs

Includes costs related to workforce optimization costs, incremental IT expenses for implementation of new systems, third-party consulting expenses and other related costs, including costs related to personnel dedicated to this project. The implementation phase of LHX NeXt was completed in fiscal 2025.

Orders

Total value of funded and unfunded contract awards received from the U.S. Government and other customers, including incremental funding and adjustments to previous awards, excluding unexercised contract options and potential orders under ordering-type contracts, such as indefinite delivery, indefinite quantity (IDIQ) contracts.

HUNTSVILLE, Ala.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) has expanded its Advanced Manufacturing Facility-South (AMF-South) in Huntsville with a $25 million investment that includes an additional 130,000 square feet of manufacturing space.

The expansion increases the company’s footprint in Huntsville to ~670,000 square feet across three local sites. The AMF-South location is able to scale rapidly by utilizing space that already has the necessary infrastructure in place.

“The additional space allows us to lean forward and surge capacity in a way that directly aligns with the Department of War’s demand for critical munition acceleration,” said Ken Bedingfield, President, Missile Solutions, L3Harris. “Huntsville’s expansion at AMF-South gives us the flexibility we need to grow quickly and continue delivering for our customers.”

The facility growth builds on the company’s sustained investments in Huntsville, including a tripling of capital spend from 2024 to 2025. Huntsville currently supports more than half of L3Harris’ solid rocket motor programs with inert component production, and output continues to increase year-over-year.

AMF-South is currently hiring for a variety of key positions, including Mechanical and Manufacturing Engineering, Project Engineering, Quality and skilled trades such as Machinists and Composite Technicians.

About L3Harris Technologies

L3Harris is the Trusted Disruptor in defense tech. With customers’ mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting space, air, land, sea and cyber domains in the interest of national security. Visit L3Harris.com for more information.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about capacity are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) has been selected by the U.S. Army to deliver VAMPIRETM counter-unmanned systems (c-UxS) to support urgent defense against hostile drones. The Army’s order is worth up to $106 million as part of the United States’ layered c-UxS defense approach.

The VAMPIRE capability is a self-contained weapons solution that delivers advanced reconnaissance and precision strike against drones and remotely piloted aircraft. Military forces have used the technology extensively in support of European combat operations, logging more than 350,000 operational hours since 2023.

“We’ve worked with the Army to understand their needs for new counter-UxS systems that can be quickly assembled, delivered, set-up and fired,” said Tom Kirkland, President, Targeting & Sensor Systems, Communications & Spectrum Dominance, L3Harris. “VAMPIRE is effective at hunting and engaging drone threats affordably, which enables U.S. armed forces to sustain reliable defense of its personnel and infrastructure.”

L3Harris developed and invested in VAMPIRE at the beginning of the war in Ukraine to provide a low-cost solution to eliminate Russian drone threats. In 2026, L3Harris ramped up production of the VAMPIRE system, initiating high-volume production in Huntsville, Alabama. The new production line is a direct response to the United States and its allies’ need to combat the persistent drone threat.

About L3Harris Technologies

L3Harris is the Trusted Disruptor in defense tech. With customers’ mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. Visit L3Harris.com for more information.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about order values are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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