L3Harris Technologies Reports Strong Third Quarter 2024 Results, Increases 2024 Guidance

Table 5 - Operating Income and Margin and Adjusted Segment Operating Income and Margin (Unaudited)

 

Third Quarter

 

Year to Date

(In millions)

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

 

 

 

 

 

 

 

 

Revenue (A)

$

5,292

 

 

$

4,915

 

 

$

15,802

 

 

$

14,079

 

 

 

 

 

 

 

 

 

Operating income (B)

$

495

 

 

$

479

 

 

$

1,349

 

 

$

1,272

 

Corporate items add back1

 

33

 

 

 

(41

)

 

 

86

 

 

 

(45

)

Significant and/or non-recurring items:

 

 

 

 

 

 

 

Amortization of acquisition-related intangibles and additional cost of revenue related to the fair value step-up in inventory sold 2

 

210

 

 

 

208

 

 

 

642

 

 

 

576

 

Merger, acquisition, and divestiture-related expenses 2

 

25

 

 

 

56

 

 

 

86

 

 

 

144

 

Business divestiture-related losses, net and impairment of goodwill and other assets 2

 

29

 

 

 

 

 

 

67

 

 

 

52

 

LHX NeXt implementation costs 2

 

41

 

 

 

33

 

 

 

216

 

 

 

68

 

Total significant and/or non-recurring items

 

305

 

 

 

297

 

 

 

1,011

 

 

 

840

 

Unallocated items

 

338

 

 

 

256

 

 

 

1,097

 

 

 

795

 

Adjusted segment operating income (C)

$

833

 

 

$

735

 

 

$

2,446

 

 

$

2,067

 

Margins

 

 

 

 

 

 

 

Operating margin (B)/(A)

 

9.4

%

 

 

9.7

%

 

 

8.5

%

 

 

9.0

%

Adjusted segment operating margin (C)/(A)

 

15.7

%

 

 

15.0

%

 

 

15.5

%

 

 

14.7

%

 

 

 

 

 

 

 

 

1 Corporate items add back includes unallocated corporate department expense of $40M and $106M for the third quarter and year to date 2024, respectively, and unallocated corporate department income of $14M for the third quarter 2023 and unallocated corporate department expense of $27M for year to date 2023. Additionally, includes the FAS/CAS operating adjustment of $7M and $20M for the third quarter and year to date 2024, respectively, and $27M and $72M for the third quarter and year to date 2023, respectively. The FAS/CAS operating adjustment represents the difference between the service cost component of Financial Accounting Standards (“FAS”) pension and Other Postretirement Benefits (“OPEB”) income or expense and total U.S. Government Cost Accounting Standards (“CAS”) pension and OPEB cost.

2 Refer to Key Terms and Non-GAAP Definitions on page 17.


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16  Next Page »
Featured Video
Jobs
CAD Engineer for Nvidia at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Upcoming Events
SEMICON Japan 2024 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2024
PDF Solutions AI Executive Conference at St. Regis Hotel San Francisco - Dec 12, 2024
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise