L3Harris Technologies, Inc.
L3Harris Technologies, Inc. Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
What the Q2 FY26 call signalled
2 of 4 strong
The short version
- Expecting sustained strong growth over the next decade, particularly in Missile Solutions and Space & Mission Systems. - The company reaffirmed full-year 2026 revenue guidance of $23B to $23.5B, representing 7% organic growth at midpoint.
From L3Harris Technologies, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Expecting sustained strong growth over the next decade, particularly in Missile Solutions and Space & Mission Systems.
- Missile Solutions volume ramp is aggressive, supported by long-term supply agreements and increased capacity investments.
- Space pipeline is robust with tens of billions in opportunities, including classified LEO, MEO, and GEO programs.
- Solid backlog growth: backlog almost doubled to over $40 billion, plus $25 billion pending from Munitions Acceleration Council programs.
- Revenue guidance for 2026 reaffirmed at $23-$23.5 billion, ~7% organic growth; strong first quarter (15% organic growth) indicates potential upside.
- International demand growing rapidly, with >20% growth in some sectors.
- Expansion of missionized aircraft and software-defined communication products expected.
2 more points from L3Harris Technologies, Inc.'s call on revenue
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Profitability & Margins
See what L3Harris Technologies, Inc. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Around $1 billion of investments in solid rocket motors capacity expansion, supported by Department of War funding, including additional cash to accelerate investments.
- Investments focus on expanding factory capacity, including a 200,000 square foot facility built a few years ago to support growth.
- Investments aimed at ramping up production, supporting large volume ramps, and meeting supply chain demands.
- Continued R&D investments in radios (approx. 2.5% to 3% of revenue, around $2 billion annually across the company) to develop new capabilities like the Falcon 5 radio with high data rate technology.
- Investments to develop and integrate VAMPIRE counter-drone systems with a converted factory.
2 more points from L3Harris Technologies, Inc.'s call on capex
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Fundraising & Capital Structure
See what L3Harris Technologies, Inc. said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current backlog: Over $40 billion, nearly doubled in recent years, providing 2x revenue coverage.
- Additional pending orders: $25 billion of orders for the Munitions Acceleration Council (MAC) programs currently in negotiations.
- Book-to-bill ratio for the quarter: 1.4x, demonstrating strong demand.
- Key recent awards include:
- Missionized aircraft contracts with South Korea and a NATO ally valued over $2.2 billion.
- Strategic tanker and transport contracts in Canada totaling approximately $700 million.
- $460 million in international orders for resilient communication products from NATO countries.
2 more points from L3Harris Technologies, Inc.'s call on order book
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Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Frequently Asked Questions
What were L3Harris Technologies, Inc. Q2 FY26 results?
- Expecting sustained strong growth over the next decade, particularly in Missile Solutions and Space & Mission Systems. - The company reaffirmed full-year 2026 revenue guidance of $23B to $23.5B, representing 7% organic growth at midpoint.
What is L3Harris Technologies, Inc. share price analysis?
L3Harris Technologies, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 34.1 with a market cap of $58,642. Investors should review the full earnings analysis for detailed insights.
Is L3Harris Technologies, Inc. planning capital expenditure?
- Around $1 billion of investments in solid rocket motors capacity expansion, supported by Department of War funding, including additional cash to accelerate investments. - Investments focus on expanding factory capacity, including a 200,000 square foot facility built a few years ago to support growth. - Investments aimed at ramping up production, supporting large volume ramps, and meeting supply chain demands. - Continued R&D investments in radios (approx.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.