L3Harris TechnologiesNYSE: LHX

Aerojet Rocketdyne, a subsidiary of L3Harris Technologies, has increased its monthly production of motors for GMLRS rockets, which are widely used in Ukraine, according to a company executive on Tuesday. This increase comes as global demand rises to support Kyiv and replenish dwindling U.S. stockpiles.

L3Harris Technologies, Inc. is a strong dividend growth stock that uses strategic contracts and partnerships to achieve great returns and future expansion. With a backlog of $34 billion, the company is experiencing solid revenue growth and increasing profit margins, which sets it up for long-term success. L3Harris aims to reach its net leverage goal, allowing for significant returns to shareholders through dividends and buybacks, and it expects a free cash flow yield of almost 6% by 2026.

L3Harris Technologies Inc (LHX) shares are rising after the company announced third-quarter financial results that exceeded expectations.

LHX's revenues for the third quarter fell short of the Zacks Consensus Estimate by 0.6%. However, the company anticipates producing around $2.2 billion in adjusted free cash flow in 2024.

L3Harris Technologies, Inc. (NYSE:LHX) held its Q3 2024 Earnings Conference Call on October 25, 2024, at 8:30 AM ET. The call featured company representatives including Daniel Gittsovich, Christopher Kubasik, and Kenneth Bedingfield, along with analysts from various firms. The operator welcomed everyone to the call, marking the start of the discussion on the company's financial performance.

The main figures for L3Harris (LHX) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare these important metrics with Wall Street predictions and the results from the same period last year.

L3Harris (LHX) reported quarterly earnings of $3.34 per share, which is higher than the Zacks Consensus Estimate of $3.27 per share. This is an increase compared to last year's earnings of $3.19 per share.

Alex Karp, the CEO and co-founder of Palantir, and Chris Kubasik, the CEO of L3Harris, appeared on 'Closing Bell Overtime' to discuss their companies' collaboration aimed at enhancing AI in the defense sector.

On Thursday, L3Harris increased the lower range of its yearly profit and revenue predictions, expecting continued demand for weapons and strong defense spending due to growing global security issues.