L3Harris Technologies — Oct 24, 2024 release

PAGE 1 SUMMARY FINANCIAL RESULTS AND 2024 GUIDANCE* Third Quarter Year to Date 2024 Guidance ($ millions, except per share data) 2024 2023 Change 2024 2023 Change Revenue (see Table 4 for organic revenue) Space & Airborne Systems $ 1,683 $ 1,686 $ 5,141 $ 5,056 Integrated Mission Systems 1,671 1,568 5,069  5,003  Communication Systems 1,382 1,255 4,022  3,707  Aerojet Rocketdyne 596 455 1,719  455  Corporate eliminations (40) (49) (149) (142) Revenue $ 5,292 $ 4,915 8  % $ 15,802 $ 14,079 12  % $21.1B - $21.3B (Prior: $21.0B - $21.3B) Operating income Space & Airborne Systems $ 195 $ 210 $ 626 $ 565 Integrated Mission Systems 204 187 600 534 Communication Systems 359 282 998 873 Aerojet Rocketdyne 75 56 222 56 Corporate unallocated items (338) (256) (1,097) (756) Operating income $ 495 $ 479 3  % $ 1,349 $ 1,272 6  % Unallocated items (see Table 5) 338 256 1,097 795 Adjusted segment operating income $ 833 $ 735 13  % $ 2,446 $ 2,067 18  % —   —   —   —   Margin Operating margin 9.4   % 9.7  % 8.5  % 9.0  % Adjusted segment operating margin 15.7   % 15.0  % 70 bps 15.5  % 14.7  % 80 bps ~15.5% (Prior: 15.2% - 15.4%) Tax rate Effective tax rate (GAAP) 6.0   % 4.5  % 4.9  % 6.4  % Effective tax rate (non-GAAP) 12.9   % 12.9  % 13.0  % 13.2  % EPS Diluted EPS $ 2.10 $ 2.02 4  % $ 5.50 $ 5.61 (2  %) Non-GAAP diluted EPS $ 3.34 $ 3.19 5  % $ 9.63 $ 9.01 7  % $12.95 - $13.15 (Prior: $12.85 - $13.15) Pension adjusted non-GAAP diluted EPS $ 2.94 $ 2.71 8  % $ 8.44 $ 7.62 11  % Cash flow Cash from operations $ 780 $ 543 44  % $ 1,430 $ 1,307 9  % Adjusted free cash flow $ 728 $ 617 18  % $ 1,286 $ 1,273 1  % ~$2.2B Revenue: Third quarter revenue increased 8%, primarily driven by the acquisition of Aerojet Rocketdyne (AR) and 5% total organic growth, primarily from continued robust demand for our resilient communication products and night vision devices in our Communication Systems (CS) segment. Organic growth was also driven by our Integrated Mission Systems (IMS) segment, with higher aircraft missionization volumes, increased volumes for advanced electronics related to space and munitions programs, and higher volumes in our Commercial Aviation business, the divestiture of which is pending closure. * Adjusted segment operating income and margin, effective tax rate on non-GAAP income, non-GAAP diluted EPS, pension adjusted non-GAAP diluted EPS, organic revenue and adjusted free cash flow are non-GAAP financial measures defined on page 17. A reconciliation of adjusted segment operating income and margin, effective tax rate on non-GAAP income, non-GAAP diluted EPS and adjusted free cash flow on a forward-looking basis to GAAP is not available without unreasonable effort due to the unavailability of items for exclusion from the GAAP measure. We are unable to address the probable significance of