L3Harris Q2 Earnings: 8% Revenue Growth, 28% EPS Jump, and a Raised Full-Year Outlook
LHX is trading near its 52-week low of $267.25 (10% above the low).
Summary
L3Harris posted strong Q2 2026 results, with revenue up 8% to $5.9B and EPS up 28% to $3.13, beating expectations. The company raised its full-year guidance and reported a record backlog of $42B.
Key Events · Earnings and Guidance · LHX
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Revenue +8%, EPS +28%
Q2 revenue reached $5.9B, up 8% YoY, with diluted EPS of $3.13, a 28% increase. All three segments contributed to growth.
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Record Backlog and Orders
Orders of $7.3B resulted in a 1.2x book-to-bill ratio, pushing backlog to a record $42B, signaling strong future revenue visibility.
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Margin Expansion
Operating margin improved 60 bps to 11.1%, while segment operating margin reached 16.0%, driven by volume and program performance.
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Cash Flow Surge
Operating cash flow rose 37% to $879M, and free cash flow hit $771M, also up 37%, reflecting strong working capital management.
Analysis · LHX · Manufacturing
A standout quarter saw L3Harris beat expectations across the board. Revenue jumped 8% to $5.9 billion, fueled by strength in all three segments, while diluted EPS surged 28% to $3.13. Operating margins expanded 60 basis points to 11.1%, and free cash flow soared 37% to $771 million. Confidence in sustained momentum is evident in the raised full-year revenue and EPS guidance. A record $42 billion backlog and a 1.2x book-to-bill ratio underscore robust demand, particularly from defense and space programs. This performance reinforces the company's position as a prime beneficiary of elevated global defense spending.
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In the 30 days to Sep 11, 2026, 35.8% of the 1706 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.10%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, LHX was trading at $295.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $55.4B. The 52-week trading range was $267.25 to $379.23. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.