L3Harris raises 2026 revenue and earnings outlook after beating third-quarter estimates

Earnings of $3.28 a share beat expectations by $0.31, and the company keeps its cash forecast at $3 billion.

L3Harris raised its 2026 forecasts for revenue and earnings after beating expectations for the third quarter.

The company earned $3.28 a share in the quarter on a GAAP basis, meaning under generally accepted accounting principles, the standard rules for company accounts. That was $0.31 above what was expected. Revenue came in at $6.06 billion, against $5.97 billion expected.

For the full year, L3Harris now expects revenue of $23.5 billion to $23.7 billion. Its previous range was $23.2 billion to $23.7 billion, so only the bottom of the range has moved. It now expects GAAP earnings of $12.25 to $12.35 a share, up from $11.80 to $12.00. It keeps its forecast for free cash flow, the cash a company has left after spending on its operations and equipment, at $3 billion.

Chief executive Sam Mehta said the company's priority is turning its record backlog, the orders it has yet to fill, into results. He said it will keep investing in production capacity and capabilities across missiles, space, communications and sensing.

The higher outlook shows the backlog turning into sales and earnings. Earlier contract wins, including a THAAD propulsion award and a prior PAC-3 win, had only hinted at this. The midpoint of the earnings forecast rose by roughly 3% to 4%. Holding free cash flow at $3 billion suggests the growth has not come at the cost of cash. The next test is whether production can keep pace with the orders the company has already won.