HighGravityDataL3Harris Technologies — Oct 24, 2024 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000202058-24-000166
Showing in the filing
IMS Revenue
“$6,600 - $6,700 (Prior: $6,500 - $6,700)”
Period
FY2024
Measure
GAAP-tied
Source
Guidance table
All guidance in this release · 23
Revenue for FY2024
“$21.1B - $21.3B (Prior: $21.0B - $21.3B)”
Adjusted segment operating margin for FY2024
“~15.5% (Prior: 15.2% - 15.4%)”
Non-GAAP diluted EPS for FY2024
“$12.95 - $13.15 (Prior: $12.85 - $13.15)”
LHX NeXt savings target for FY2024
“at least $600 million”
LHX NeXt overall savings target
“$1 billion”
Overall cost savings target
“$1 billion”
LHX NeXt cost savings opportunity for the long term
“exceed the $1 billion target”
Segment operating margins for FY2026
“at least 16%”
Adjusted free cash flow for FY2024
“~$2.2B”
SAS Revenue for FY2024
“~$7,000”
SAS Operating margin for FY2024
“low 12%”
IMS Revenue for FY2024
“$6,600 - $6,700 (Prior: $6,500 - $6,700)”
IMS Operating margin for FY2024
“mid - high 11% (Prior: mid 11%)”
CS Revenue for FY2024
“~$5,400 (Prior: $5,300 - $5,400)”
CS Operating margin for FY2024
“mid - high 24% (Prior: mid 24%)”
AR Revenue for FY2024
“$2,400 - $2,500”
AR Operating margin for FY2024
“mid 12% (Prior: high 11%)”
FAS/CAS operating adjustment for FY2024
“~$30 million”
Non-service FAS pension income for FY2024
“~$310 million”
Net interest expense for FY2024
“~$660 million”
Effective tax rate on non-GAAP income for FY2024
“13.0% - 13.5%”
Average diluted shares for FY2024
“Flat”
Capital expenditures for FY2024
“~2% sales”
Exhibit 99.1 · the passage around this item
… earlier in the release
Operating Margin: Third quarter operating margin decreased 90 bps, primarily due to the absence of an $18 million non-recurring license sale that positively impacted 2023 and challenges on classified development programs, partially offset by growth in Intel and Cyber and FAA mission-critical safety of flight networks businesses, and LHX NeXt cost savings. IMS Third Quarter Year to Date 2024 Guidance ($ millions) 2024 2023 Change 2024 2023 Change Revenue $ 1,671 $ 1,568 7% $ 5,069 $ 5,003 1% $6,600 - $6,700 (Prior: $6,500 - $6,700) Operating margin 12.2 % 11.9 % 30 bps 11.8 % 10.7 % 110 bps mid - high 11% (Prior: mid 11%) Revenue: Third quarter revenue increased primarily from higher aircraft missionization volumes, increased advanced electronics demand for space and munitions programs, and higher volumes in our Commercial Aviation Solutions business, the divestiture of which is pending closure. Operating Margin: Third quarter operating margin increased 30 bps, primarily from improved program performance across the segment, LHX NeXt cost savings and higher volume and favorable mix in Commercial Aviation Solutions, partially offset by unfavorable mix impact in our aircraft missionization business. *Organic revenue is a non-GAAP financial measure defined on page 17. PAGE 4 CS Third Quarter Year to Date 2024 Guidance ($ millions) 2024 2023 Change 2024 2023 Change Revenue $ 1,382 $ 1,255 10% $ 4,022 $ 3,707 8% ~$5,400 (Prior: $5,300 - $5,400) Operating margin 26.0 % 22.5 % 350 bps 24.8 % 23.6 % 120 bps mid - high 24% (Prior: mid 24%) Revenue: Third quarter revenue increased 10%, primarily driven by robust demand for our resilient communication equipment, related waveforms, and
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.