L3Harris Technologies Reports Strong First Quarter 2026 Financial Results

L3Harris Technologies reported strong first quarter 2026 results, with orders reaching $7.8 billion, a book-to-bill ratio of 1.4x, and a record backlog of $40.7 billion. Revenue was $5.7 billion, a 12% increase (15% organically), driven by growth across all segments due to new program ramps and increased international volume. Operating margin improved by 120 basis points to 11.4%, with segment operating margin at 15.7%, up 10 basis points. GAAP diluted Earnings Per Share (EPS) was $2.72, a 33% increase. The company updated its 2026 EPS guidance. The Space & Mission Systems segment saw a 24% revenue increase, Communication & Spectrum Dominance grew 3%, and Missile Solutions increased 18%. Cash flow from operations was negative $95 million, resulting in free cash flow of negative $187 million, impacted by the timing of cash receipts and disbursements.