• 3Q19 revenue $4.4 billion; up 187% GAAP, up 10% versus prior-year combined¹; funded book-to-bill 1.13 and funded backlog up 10% to $16.5 billion
• 3Q19 GAAP EPS from continuing operations up 7% to $1.90; non-GAAP² up 26% versus prior-year combined to $2.58
• 3Q19 operating cash flow of $81 million; adjusted free cash flow³ of $618 million
• YTD19 revenue $8.0 billion, up 68% GAAP; combined revenue $13.2 billion, up 10% versus prior-year combined
• YTD19 GAAP EPS from continuing operations up 19% to $6.13; combined non-GAAP² up 27% versus prior-year combined to $7.23
• YTD19 combined operating cash flow of $797 million; adjusted free cash flow³ up 73% to $1.6 billion
• Increased EPS guidance and tightened free cash flow to the higher end of the range

MELBOURNE, Fla. — (BUSINESS WIRE) — October 30, 2019 — L3Harris Technologies, Inc. (NYSE: LHX) reported third quarter 2019 revenue of $4.4 billion, up 10% compared with prior-year combined revenue. GAAP earnings per diluted share (EPS) from continuing operations increased 7% to $1.90, and non-GAAP EPS² increased 26% versus prior-year combined EPS to $2.58. Net income increased 104% to $435 million, and adjusted earnings before interest and taxes (EBIT)² increased 25% versus prior-year combined to $766 million with margin expansion of 210 basis points (bps) to 17.4%.

"L3Harris is off to a great start as a new company and delivered strong third quarter results with double-digit revenue growth and strong margin expansion, including the benefit of integration, and returned more than $900 million to shareholders in dividends and share repurchases," said William M. Brown, Chairman and Chief Executive Officer. "These results, together with strong first half combined performance, successful execution against our strategic priorities and solid backlog, give us confidence to raise EPS guidance for the year."

Summary Financial Results