L3Harris Technologies Inc (MEX:LHX)
MXN 4616.03 0 (0%) Market Cap: 810.52 Bil Enterprise Value: 1.07 Tn PE Ratio: 32.90 PB Ratio: 2.08 GF Score: 81/100
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Q3 2024 L3Harris Technologies Inc Earnings Call Transcript

Oct 25, 2024 / 12:30PM GMT
Release Date Price: MXN4400

Key Points

Positve
  • L3Harris Technologies Inc (LHX) achieved record order volume and an impressive book-to-bill ratio, indicating strong demand for its products.
  • The company reported robust segment operating margins and solid free cash flow, highlighting its financial strength.
  • L3Harris Technologies Inc (LHX) is on track to exceed its 2024 cost savings target, now expecting to achieve at least $600 million by the end of the year.
  • The company secured significant contracts, including a $600 million next-generation jammer contract and a $1.2 billion IDIQ contract with the US Navy.
  • L3Harris Technologies Inc (LHX) has a diversified portfolio that limits reliance on a single program, enabling steady growth and risk management.
Negative
  • The SAS segment experienced flat revenue growth due to the divestiture of the antenna business and challenges on classified development programs.
  • Margins in the SAS segment declined due to a onetime license sale in the prior year and challenges in the space business.
  • The company faces ongoing challenges in the space area with schedule pressures and cost overruns on classified programs.
  • Despite strong performance, the company acknowledges the need to manage risks associated with growth, particularly in digestible single-digit and low double-digit millions.
  • L3Harris Technologies Inc (LHX) is still working on improving supply chain management and modernizing its digital infrastructure, indicating ongoing operational challenges.
Operator

Good morning, everyone. Welcome to the L3Harris Technologies' third-quarter 2024 earnings call. (Operator Instructions) Also today's call is being recorded. And if you should need any operator assistance during the call today, please press star zero. Now at this time, I'll turn things over to Mr. Dan Gittsovich, Vice President, Investor Relations. Please go ahead, sir.

Daniel Gittsovich
L3Harris Technologies Inc - Vice President, Investor Relations

Thank you, Bob. Good morning, and welcome to our third quarter 2024 earnings call. Joining me this morning are Chris and Ken. Yesterday, we published our third quarter earnings release detailing our financial results and guidance. We've also provided a supplemental earnings presentation on our website.

Today's discussion will include certain matters that constitute forward-looking statements. These statements involve risks, assumptions and uncertainties that could cause actual results to differ materially. For more information, please reference our earnings release and SEC filings. We will also discuss non

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