L3Harris Reaffirms 2026 Guidance Hours After CEO Departure
LHX is trading near its 52-week low of $262.68 (9.3% above the low).
Summary
L3Harris reaffirmed its full-year 2026 guidance for consolidated revenue, organic growth, segment operating margin, GAAP EPS, and free cash flow, hours after announcing the immediate departure of CEO Christopher Kubasik following a Board investigation. The Board determined it was in the best interests of the company to enter a separation agreement with Kubasik over conduct. Sam Mehta has been appointed CEO, with compensation including a $1.25 million base salary, 200% bonus, and $13.25 million long-term incentive pro-rated for 2026. The stock was down following the news. The reaffirmation signals operational stability despite the leadership disruption, and investors will watch for further details on the CEO transition and whether guidance holds through the next earnings report.
At the time of this announcement, LHX was trading at $287.12 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $54.3B. The 52-week trading range was $262.68 to $379.23. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.