L3Harris Technologies Expects Higher Revenue in 2021

By Dave Sebastian

L3Harris Technologies Inc. said it expects revenue of $18.5 billion to $18.9 billion, up 3% to 5% on an organic basis, for 2021.

The aerospace and defense company on Friday said it sees earnings of $9.80 a share to $10.11 a share, or $12.60 a share to $13 a share on an adjusted basis. L3Harris posted a profit of $5.19 a share on revenue of $18.19 billion for 2020.

The company said it expects a net income margin of 10.8% to 11.1% and adjusted earnings before interest and taxes margin of 18% to 18.5%.

L3Harris expects operating cash flow of $3.1 billion to $3.2 billion, or $2.8 billion to $2.9 billion on an adjusted basis. It sees roughly $2.3 billion in share repurchases, excluding use of divestiture proceeds.

Shares fell 2% to $173.14 in premarket trading.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

January 29, 2021 07:05 ET (12:05 GMT)

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