L3Harris beats third-quarter estimates and lifts its 2026 revenue and earnings guidance
The defence group raised the floor of its revenue range and its GAAP earnings range, and left its $3 billion free cash flow target as it was.
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L3Harris posted third-quarter GAAP earnings of $3.28 a share, $0.31 above expectations, and raised its 2026 outlook, a sign that its record backlog is turning into earnings.
Revenue for the quarter was $6.06 billion against $5.97 billion expected. For the full year, the company now expects revenue of $23.5 billion to $23.7 billion. The prior range was $23.2 billion to $23.7 billion, so only the low end moved.
The larger change is in earnings. GAAP earnings per share guidance rises to $12.25 to $12.35, from $11.80 to $12.00. That lifts the midpoint by roughly 3% to 4%. Free cash flow guidance stays at $3 billion, which suggests the higher earnings are not costing the company cash.
Chief executive Sam Mehta said the priority is converting record backlog into results. He said L3Harris will keep investing in production capacity and capabilities across missiles, space, communications and sensing.
The backlog has been building through contract wins, including the THAAD propulsion award and an earlier PAC-3 win. Those showed orders coming in. This quarter shows them feeding through to revenue and profit. The next test is whether production can keep pace with the orders already booked.
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