L3Harris Reports Strong Harris Standalone Fourth Quarter and Fiscal 2019 Results...Initiates L3Harris Calendar Year 2019 Guidance

In fiscal 2019, Harris generated $1,055 million in adjusted free cash flow5, up 15%, and returned $525 million to shareholders through dividends and share repurchases.

Unaudited Combined L3 and Harris Historical Financial Information6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ millions, except per share data)

Second Quarter

 

First Half

 

 

 

CY 2019

 

CY 2018

 

Change

 

CY 2019

 

CY 2018

 

Change

 

 

Orders

$

4,335

 

 

$

4,612

 

 

(6%)

 

$

9,478

 

 

$

9,001

 

 

5%

 

 

Revenue

$

4,448

 

 

$

4,164

 

 

7%

 

$

8,834

 

 

$

8,012

 

 

10%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unadjusted amounts comparison)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

$

482

 

 

$

592

 

 

(19%)

 

$

948

 

 

$

996

 

 

(5%)

 

 

Net income margin

10.8

%

 

14.2

%

 

(340)bps

 

10.7

%

 

12.4

%

 

(170)bps

 

 

Earnings per share

$

2.12

 

 

$

1.75

 

 

21%

 

$

4.17

 

 

$

3.46

 

 

21%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Adjusted amounts comparison) 6

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBIT

$

723

 

 

$

621

 

 

16%

 

$

1,394

 

 

$

1,190

 

 

17%

 

 

Adjusted EBIT margin

16.3

%

 

14.9

%

 

140bps

 

15.8

%

 

14.9

%

 

90bps

 

 

Earnings per share

$

2.42

 

 

$

1.89

 

 

28%

 

$

4.65

 

 

$

3.65

 

 

27%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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