L3Harris Sees FY Organic Revenue Growth Of 1.0% - 3.0%

(RTTNews) - L3Harris Technologies Inc. (LHX) said it expects earnings per share to be in the range of $10.75 - $11.05, and non-GAAP earnings per share of $13.35 - $13.65 for fiscal year 2022. The company projects annual revenue to be in the range of $17.3 billion - $17.7 billion, and organic revenue growth of 1.0% - 3.0%.

Revenue for the fourth-quarter decreased 7% versus the prior year, primarily due to divestitures within Aviation Systems and supply chain-related constraints within Communication Systems, and decreased 1% on an organic basis.

At the segment level, organic revenue was driven by Integrated Mission Systems and Space & Airborne Systems, up 6% and 2%, respectively, offset by a decline in Communication Systems and Aviation Systems, down 11% and 5%, respectively.