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
SAS Revenue
“~$7,000”
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
Adjusted free cash flow : Increased 18% to $728 million driven by net income growth and decreases in capital expenditures, partially offset by timing of working capital. PAGE 3 SEGMENT RESULTS AND GUIDANCE* SAS Third Quarter Year to Date 2024 Guidance ($ millions) 2024 2023 Change 2024 2023 Change Revenue $ 1,683 $ 1,686 —% $ 5,141 $ 5,056 2% ~$7,000 Operating margin 11.6 % 12.5 % (90) bps 12.2 % 11.2 % 100 bps low 12% Revenue: Third quarter revenue was flat, reflecting the divestiture of the antenna business in the second quarter. Excluding the divestiture impact, organic revenue increased 2%, primarily from growth of classified programs in Intel and Cyber, and increased volume in our FAA mission-critical safety of flight networks business. Organic revenue was partially offset by lower F-35 related volumes as TR-3 development ramps down in our Airborne Combat Systems business. Growth was also impacted by challenges on classified development programs, LHX NeXt cost savings and the absence of a non-recurring license sale that positively impacted 2023. 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
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.