L3Harris Technologies Inc
LHX: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$297.00 | Fbfjkl | Pntkyqml |
L3Harris Posts Strong Bookings as Supply Constraints Limit Sales
Narrow-moat-rated L3Harris Technologies posted a 6.0% organic revenue decline as supply chain challenges limited sales. Sales of $4.1 billion missed FactSet consensus by 2.1%, but non-GAAP earnings per share of $3.23 beat these estimates by 1.7%. After adjusting our model for second-quarter earnings, we are increasing our fair value estimate to $236 per share from $233 due to the time value of money.