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L3harris Technologies (LHX) investor relations material
L3harris Technologies Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record orders of $27.5B in 2025 with a book-to-bill ratio of 1.3x, reflecting strong demand and alignment with defense priorities.
Realigned portfolio through divestitures and acquisitions, including the announced sale of a majority stake in the Civil Space Propulsion and Power business.
Reorganized from four to three business segments, with a Missile Solutions IPO planned for 2H 2026.
Strategy focused on high-growth defense priorities, disciplined capital deployment, and investments in next-generation missile defense and space capabilities.
Delivered $903M in dividends and $1.2B in share repurchases in 2025.
Financial highlights
2025 revenue reached $21.9B, up 5% organically, with growth in all segments.
Adjusted segment operating margin was 15.8%, up 40 bps; non-GAAP EPS was $10.73, up 11% YoY.
Adjusted free cash flow grew to $2.8B, up 21% YoY; cash from operations was $3.1B.
Q4 revenue was $5.6B, up 6% organically; Q4 non-GAAP EPS was $2.86.
Book-to-bill for the year was 1.3, with backlog exceeding $38B.
Outlook and guidance
2026 revenue guidance: $23.0B–$23.5B, representing 7% organic growth at midpoint.
Segment operating margin expected in low 16% range; free cash flow guidance of $3.0B.
GAAP diluted EPS expected between $11.30–$11.50; effective tax rate projected at 15%.
Business reorganized into three segments for 2026: Space & Mission Systems, Communication & Spectrum Dominance, and Missile Solutions.
Sale of majority stake in Space Technology disposal group expected to close in H2 2026.
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Strong growth in customers, profits, and deposits, with stable asset quality and global milestones. - 3407
Net income rose 22.7% year-over-year, with improved financials and a revised upward forecast. - RYM
Refreshed strategy targets NZD 150m cash flow uplift, NZD 500m cash release, and resumed dividends by FY 2028. - 9101
Profits fell across most segments, but energy shipping and a major acquisition stood out. - 4626
Double-digit profit and sales growth, with strong segment results and a stock split impact. - 2371
Revenue up 21.5% YoY, but profit down on higher investments; LiPLUS Holdings acquired. - 3401
Major impairments and divestitures led to a net loss and lower revenue across all segments. - 8002
Profit forecast raised to ¥540.0B and annual dividend to ¥107.50 per share after strong results. - COF
Profit rebounded, NTA and occupancy rose, with strong leasing and premium divestment. - NUF
Statutory loss reported, seeds business repositioned, new CEO appointed, all resolutions passed.
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Frequently asked questions
Defense Technologies
L3Harris Technologies is an American technology company and defense contractor. is an aerospace and defense technology company. Headquartered in Melbourne, Florida, the company specializes in a wide array of advanced technologies, including secure communication systems, night vision, avionics, space and airborne systems, and surveillance solutions. L3Harris is headquartered in Melbourne, Florida, and its shares are traded on the NYSE.
Formation Through a Merger
L3Harris Technologies came to be after a merger of L3 Technologies and Harris Corporation in 2019. Harris Corporation, founded in 1895, initially focused on printing press and typesetting systems, gradually evolving into communications and electronic systems. L3 Technologies was established in 1997 by the formation of various divisions divested by Lockheed Martin. The company quickly became established in the sector and is today one of the leaders in niche fields such as night vision.
A Defense Contractor
Just like how companies such as Lockheed Martin and Northrop Grumman are defense contractors, L3Harris works in a similar way. The company is primarily engaged in providing advanced technology solutions for the defense and intelligence sectors. As a defense contractor, their role involves designing, developing, and manufacturing technology and equipment critical for national security. The company does have some commercial customers and activities as well.
Products
L3Harris Technologies specializes in a wide range of products and services for the defense, aerospace, and commercial sectors. The company’s products are used in intelligence, surveillance, reconnaissance, and analytics, supporting military, government, and commercial customers globally. It provides surveillance solutions, night vision equipment, and air traffic management systems. In cybersecurity, L3Harris offers secure communications and information assurance products. The company also develops integrated mission systems for air, space, sea, and land platforms.
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