L3Harris 3Q Profit Falls, Sales Tick Up
October 30 2020 - 7:25AM
Dow Jones News
By Dave Sebastian
L3Harris Technologies Inc. said its profit fell for the latest
quarter as its aviation-systems business declined due to the
Covid-19 pandemic, though sales ticked up.
The Melbourne, Fla.-based aerospace and defense company on
Friday reported third-quarter profit of $430 million compared with
$435 million in the same quarter last year, while earnings per
share were $1.99 compared with $1.90.
Adjusted earnings were $2.84 a share, ahead of the $2.74 a share
analysts polled by FactSet had expected.
Sales rose 0.7% to $4.46 billion from $4.43 billion, offset by
the divestiture of the airport security and automation business and
pandemic-related effects. Analysts were looking for $4.48
billion.
Aviation systems sales fell 16% to $792 million. Integration
mission systems sales rose 6.2% to $1.37 billion. Space and
airborne systems sales grew 6.5% to $1.25 billion. Communications
systems sales rose 6% to $1.09 billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 30, 2020 07:10 ET (11:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
L3Harris Technologies (NYSE:LHX)
Historical Stock Chart
From Aug 2024 to Sep 2024
L3Harris Technologies (NYSE:LHX)
Historical Stock Chart
From Sep 2023 to Sep 2024