L3Harris Reports Strong First Quarter 2021 Results
L3Harris Technologies, Inc. (NYSE:LHX) reported first quarter 2021 revenue of $4.6 billion, down 1.3% versus prior year, and up 1.8% on an organic1 basis. GAAP net income was $466 million, up 140% versus prior year. Adjusted EBIT3 was $862 million, up 6.7% versus prior year, and adjusted EBIT margin3 expanded 140 basis points (bps) to 18.9%. GAAP EPS was $2.25, up 127%, and non-GAAP EPS3 was $3.18, up 14% versus prior year.
“Our first quarter results demonstrate continued strong execution by the L3Harris team in spite of the pandemic, which provides us confidence in delivering on our increased guidance for the year,” said William M. Brown, Chair and Chief Executive Officer. "Our ability to perform exceptionally, along with the differentiated capabilities highlighted at our Investor Briefing, position us to continue creating value for all stakeholders over the long term."