L3Harris Raises Guidance on Higher 2Q Profit, Revenue

By Elias Schisgall

L3Harris Technologies raised its outlook for the year after reporting a higher profit and rising revenue in the second quarter.

The defense contractor on Wednesday said it now expects full-year earnings between $11.80 and $12.00 a share, up 40 cents from the company's previous guidance. The company raised its revenue forecast by $200 million to a range of $23.2 billion to $23.7 billion.

Analysts polled by FactSet are expecting a full-year profit of $11.63 a share on $23.58 billion in revenue.

Shares were up 3.3% to $307.47 in after-hours trading on Wednesday.

L3Harris reported a second-quarter profit of $600 million, or $3.13 a share, compared with a profit of $458 million, or $2.44 a share, a year earlier. Analysts polled by FactSet were expecting a profit of $2.80 a share.

Revenue rose to $5.88 billion from $5.43 billion, beating analyst estimates of $5.81 billion.

In the space and mission-systems unit, revenue rose 7% to $2.97 billion. Revenue from the communication and spectrum-defense unit grew 4% to $1.94 billion.

In the missile-solutions business, revenue was up 14% to $1.05 billion. L3Harris is planning to spin off the missile-solutions business into its own independent company called Axyv, backed by a $1 billion minority investment from the Pentagon. It filed confidential paperwork for an initial public offering for the unit in April.

Earlier this week, L3Harris said it will quadruple propulsion production for one of the U.S.'s missile defense systems under a new framework agreement with the Pentagon and Lockheed Martin. The agreement comes as U.S. military and government officials are debating the impact of declining munitions inventories, according to The Wall Street Journal.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

July 29, 2026 16:21 ET (20:21 GMT)