L3Harris Reports Strong Q1 Results, Raises 2026 EPS Guidance on Robust Orders and Record Backlog
LHX sits 49% above its 52-week low of $214.1.
Summary
L3Harris Technologies reported strong first-quarter 2026 financial results, including double-digit revenue and EPS growth, and raised its full-year 2026 EPS guidance.
Key Events · Earnings and Guidance · LHX
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Strong First Quarter Performance
Reported Q1 2026 revenue of $5.7 billion, up 12% (15% organically), and GAAP diluted EPS of $2.72, a 33% increase year-over-year. Operating margin improved to 11.4%, up 120 basis points.
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Raised 2026 EPS Guidance
Updated its 2026 annual diluted EPS forecast to $11.40 - $11.60, an increase from the prior guidance of $11.30 - $11.50, reflecting confidence in sustained growth.
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Record Backlog and Robust Orders
Achieved orders of $7.8 billion, resulting in a book-to-bill ratio of 1.4x and increasing the total backlog to a new record of $40.7 billion, indicating strong future revenue visibility.
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Strategic Execution and Demand
Highlighted strong execution of its 'Trusted Disruptor' strategy, leveraging speed and scale to meet accelerating demand in a dynamic global environment, particularly in defense missions.
Analysis · LHX · Manufacturing
L3Harris Technologies delivered a strong first quarter, exceeding expectations with significant revenue and EPS growth. The company's decision to raise its full-year 2026 EPS guidance signals management's confidence in continued operational strength and future performance. The record backlog, driven by a robust book-to-bill ratio, provides excellent revenue visibility and underscores the strong demand for its defense solutions, including those prioritized by the Department of War. While cash flow was negative for the quarter, this is often a timing issue for large defense contractors and is overshadowed by the strong operational metrics and positive outlook.
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In the 30 days to Sep 10, 2026, 35.8% of the 1864 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. 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 $318.01 on NYSE in the Manufacturing sector, with a market capitalization of approximately $60B. The 52-week trading range was $214.10 to $379.23. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.