L3Harris hits 52-week low, as spending concerns overshadow record $42 billion backlog

L3Harris Technologies shares fell to a 52-week low of $261.62 in late August 2026.

The company reported second-quarter revenue of nearly $5.9 billion on July 29.

Earnings reached $3.13 per share, exceeding consensus analyst estimates.

The defense contractor's order backlog reached a record $42 billion.

L3Harris raised its full-year financial guidance following the quarterly results.

Investor concerns regarding future capital spending plans drove the share price decline.

Market focus on the long-term outlook overshadowed the strong operational performance.