TLDR
- First-quarter revenue for L3Harris climbed 12% year-over-year to $5.74 billion, surpassing the $5.42 billion Wall Street projection
- Adjusted earnings per share reached $2.72, exceeding analyst expectations of $2.53
- The company elevated its full-year adjusted EPS guidance to a range of $11.40–$11.60 from the previous $11.30–$11.50
- Revenue from space and mission systems jumped 24%; missile solutions division grew 18%
- The defense contractor submitted confidential IPO paperwork for its missile solutions business
L3Harris Technologies delivered first-quarter results for 2026 that exceeded analyst projections while elevating its annual earnings forecast, benefiting from sustained demand for defense equipment and military technology.
The aerospace and defense firm reported quarterly revenue totaling $5.74 billion, representing a 12% increase from the year-ago period and comfortably above the $5.42 billion consensus estimate from analysts. Adjusted earnings reached $2.72 per share, outperforming the $2.53 per share projection.
Quarterly net income climbed to $512 million, compared with $386 million during the corresponding quarter last year — representing an increase of approximately 33%.
L3Harris Technologies, Inc., LHX
Chief Executive Christopher Kubasik attributed the performance to strengthening demand and an increasingly complex global security landscape. He emphasized that the organization is expanding manufacturing capabilities and accelerating production across multiple business lines.
Management now projects full-year adjusted earnings per share between $11.40 and $11.60, an increase from the previously stated range of $11.30 to $11.50. The revenue forecast remains steady at $23 billion to $23.5 billion.
Wall Street analysts surveyed by FactSet are currently anticipating adjusted EPS of $11.59 on revenue of $23.44 billion.
Space and Missile Units Lead the Way
The company’s space and mission systems division delivered particularly strong performance, generating revenue of $2.99 billion — representing a 24% gain compared to the prior-year period. The growth stemmed from expanded production of intelligence, surveillance, and reconnaissance technologies for classified government programs and international aircraft initiatives.
The missile solutions division contributed $990 million in revenue, marking an 18% year-over-year increase. This unit specializes in propulsion technologies and hypersonic weapon systems.
The communication and spectrum-defense segment posted more moderate growth, with revenue of $1.86 billion, up 2.5% from the previous year.
Missile Unit IPO Filed Confidentially
Late Wednesday evening, L3Harris submitted confidential registration documents for an initial public offering of its missile solutions business. The filing follows through on an arrangement with the Department of Defense that was announced in January.
As part of that arrangement, the Pentagon committed $1 billion in funding to the future standalone entity to expand production capacity for solid rocket motors. These propulsion systems are critical components in various missile platforms, including Tomahawk cruise missiles and Patriot air defense interceptors.
Ongoing military conflicts worldwide, including escalating tensions involving the U.S., Israel, and Iran, have depleted Pentagon ammunition inventories and generated substantial orders for replacement missiles and munitions.
L3Harris stands among the defense industry contractors gaining directly from this replenishment cycle.
The confidential IPO submission indicates the company is progressing with plans to separate the missile division, though specific timing and valuation details remain undisclosed.
