L3Harris Technologies reported second quarter 2026 revenue of $5.9 billion, an 8% increase year-over-year, and diluted EPS of $3.13, up 28%. The results surpassed analyst expectations, prompting the company to raise its full-year 2026 guidance for both revenue and EPS.
Key Highlights
- The company raised its full-year 2026 guidance for revenue to a range of $23.2 billion to $23.7 billion and for diluted EPS to a range of $11.80 to $12.00.
- L3Harris secured new orders of $7.3 billion, driving a book-to-bill ratio of 1.2x and increasing its backlog to a record $42 billion.
- Segment operating margin met expectations at 16.0%, a 10 basis point increase year-over-year, supported by a 230 basis point margin expansion in the Communications & Spectrum Dominance segment.
- Free cash flow grew 37% year-over-year to $771 million, attributed to higher net income and favorable working capital timing.