L3Harris Technologies Lowers 2021 Revenue Guidance Due to Supply Issues, Completed Divestitures
October 29 2021 - 7:24AM
Dow Jones News
By Dave Sebastian
L3Harris Technologies Inc. lowered its revenue guidance for the
year due to the effect of supply disruptions and completed
divestitures.
The aerospace and defense company on Friday said it expects 2021
revenue of about $17.9 billion, compared with prior guidance of
$18.1 billion to $18.5 billion.
It said it expects organic revenue growth of about 2%, compared
with its previous outlook of 3% to 5% growth.
The company said it expects adjusted earnings of $12.85 a share
to $13 a share, compared with previous guidance of $12.80 a share
to $13.00 a share.
It said it anticipates share repurchases of about $3.6 billion
for the year, compared with its prior expectation of about $3.4
billion.
"We ultimately view these pandemic-related impacts as
temporary," said Christopher Kubasik, vice chairman and chief
executive officer.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 29, 2021 07:09 ET (11:09 GMT)
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