L3Harris Technologies Reports Strong Q3 2026 Results Driven by Missile Defense and Space Backlog
L3Harris Technologies (LHX) delivered robust third-quarter 2026 financial results, characterized by a massive $53.2 billion backlog—a 47% increase year-over-year. The company's growth was fueled by significant contract wins in missile defense, including $11 billion for PAC-3 and THAAD propulsion systems, and strong performance in its Space & Mission Systems segment. Earnings per share rose 33% to $3.28, supported by higher volumes and improved operational efficiencies. Strategic expansion is a key theme, with the company investing heavily in solid rocket motor manufacturing capacity and utilizing AI to reduce inspection times. While minor supply chain disruptions in printed circuit board laminates were noted, L3Harris successfully reduced its net debt leverage from 4.3x to 1.9x. Looking ahead, management updated its 2026 guidance upward, reflecting lower anticipated interest expenses and a clear path toward a $3 billion free cash flow target by 2028.
Tickers: $LHX
Topics: backlog increase earnings report guidance update missile defense contracts revenue growth