L3Harris raises outlook and advances missile spinoff as AXYV
Updated
Updated · MarketWatch · Apr 30
L3Harris raises outlook and advances missile spinoff as AXYV
8 articles · Updated · MarketWatch · Apr 30
First-quarter profit rose to $512 million from $386 million and revenue jumped 12% to $5.74 billion, beating Wall Street estimates; adjusted EPS was $2.72.
The company now expects full-year adjusted earnings of $11.40 to $11.60 a share, while keeping its revenue forecast at $23 billion to $23.5 billion.
L3Harris said demand is being driven by security tensions in the Middle East, Europe and Indo-Pacific; the missile business, backed by a $1 billion Pentagon investment, is due to spin off in late 2026.
As L3Harris spins off its missile unit, how will a government-backed IPO reshape competition in the defense industry?
Is the Pentagon's $1B investment in a defense firm the future of military readiness or a risky market distortion?