L3Harris 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
Net interest expense
“~$660 million”
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
PAGE 5 SUPPLEMENTAL INFORMATION* 2024 2023 Other Information Current Prior Actuals FAS/CAS operating adjustment ~$30 million ~$30 million $110 million Non-service FAS pension income ~$310 million ~$310 million $310 million Net interest expense ~$660 million ~$660 million $543 million Effective tax rate on GAAP income 1.9% Effective tax rate on non-GAAP income 13.0% - 13.5% 13.0% - 13.5% 13.0% Average diluted shares Flat Flat 190.6 Capital expenditures ~2% sales ~2% sales 2% sales *Effective tax rate on non-GAAP income is a non-GAAP financial measure defined on page 17. A reconciliation of effective tax rate on non-GAAP income guidance is not available. See Non-GAAP Financial Measures on page 7 for more information. PAGE 6 Forward-Looking Statements This earnings release contains forward-looking statements within the meaning of federal securities laws made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples include, but are not limited to: potential divestitures and their timing; 2024 guidance; 2026 financial framework; anticipated LHX NeXt initiative costs and savings targets and 2026 margins; supplemental information for 2024; projection of other financial items; and assumptions underlying any of the foregoing. Investors should not place undue reliance on forward-looking statements, which reflect management’s current expectations, estimates, projections, assumptions and informa
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.