Key Highlights
- Q1 revenue climbed 12% year-over-year to $5.74 billion, surpassing analyst projections of $5.42 billion
- Earnings per share reached $2.72, exceeding the consensus estimate of $2.53
- Company increased full-year adjusted EPS guidance to $11.40–$11.60 from previous range of $11.30–$11.50
- Space and mission systems division revenue jumped 24%; missile solutions grew 18%
- Confidential IPO filing submitted for missile solutions business unit
L3Harris Technologies delivered a strong first quarter in 2026, exceeding analyst projections on both top and bottom lines while boosting its annual earnings forecast amid sustained demand for defense equipment and military technology.
The aerospace and defense company reported first-quarter revenue of $5.74 billion, representing a 12% increase from the prior year and significantly outpacing Wall Street’s projection of $5.42 billion. Profit per share reached $2.72, beating the analyst consensus of $2.53.
Quarterly net income totaled $512 million, compared to $386 million during the corresponding period last year — representing approximately a 33% increase.
L3Harris Technologies, Inc., LHX
Chief Executive Christopher Kubasik highlighted increasing demand and what he characterized as a fluid international landscape as primary catalysts. He noted the organization is expanding operations and accelerating manufacturing capacity throughout its business segments.
The company now projects full-year adjusted earnings per share between $11.40 and $11.60, revised upward from its earlier forecast of $11.30 to $11.50. Revenue projections remain steady at $23 billion to $23.5 billion.
FactSet’s analyst consensus currently anticipates adjusted EPS of $11.59 on revenue totaling $23.44 billion.
Space and Missile Divisions Drive Growth
The space and mission systems division emerged as a top performer, generating revenue of $2.99 billion — representing a 24% year-over-year gain. The expansion stemmed from increased production of intelligence, surveillance, and reconnaissance technology for confidential and foreign aircraft initiatives.
The missile solutions division contributed $990 million in revenue, marking an 18% annual increase. This segment manufactures propulsion technology and hypersonic weaponry.
The communication and spectrum-defense business experienced more moderate expansion, recording revenue of $1.86 billion, a 2.5% rise from the previous year.
Confidential Filing for Missile Division Public Offering
On Wednesday evening, L3Harris submitted a confidential IPO registration for its missile solutions business. This filing advances an arrangement with the Department of Defense announced earlier this year.
According to that arrangement, the Pentagon committed $1 billion to the planned independent entity to expand manufacturing of solid rocket motors. These propulsion systems power various missile platforms including Tomahawk cruise missiles and Patriot defense interceptors.
Ongoing international conflicts, such as the U.S.-Israel military operations against Iran, have depleted Defense Department inventories and triggered fresh procurement orders for missiles and ammunition.
L3Harris ranks among the defense industry contractors directly capitalizing on this inventory replenishment cycle.
The confidential public offering submission indicates the company is progressing with the missile unit’s separation, although specific timing and valuation information remain undisclosed.
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