• 2Q20 revenue
  • $4.4 billion, up 138% and flat versus prior-year GAAP and pro forma¹, respectively
  • Up 2.3% on an organic² basis; funded book-to-bill of 1.09
• 2Q20 margin and earnings
  • Net income margin of 6.3%; adjusted earnings before interest and taxes (EBIT)³ margin of 18.2%
  • GAAP earnings per share from continuing operations (EPS) of $1.30, down 41% and 29% versus prior-year GAAP and pro forma, respectively
  • Non-GAAP³ EPS of $2.83, up 13% versus prior-year adjusted pro forma

• 2Q20 cash flow
  • Operating cash flow of $802 million; adjusted free cash flow (FCF)⁴ of $785 million

MELBOURNE, Fla. — (BUSINESS WIRE) — July 31, 2020 — L3Harris Technologies, Inc. (NYSE: LHX) reported second quarter 2020 revenue of $4.4 billion, up 138% and flat versus prior-year GAAP and pro forma¹, respectively, and up 2.3% on an organic² basis. Net income was $278 million, up 4% and down 33% versus prior-year GAAP and pro forma, respectively. Adjusted EBIT³ was $810 million, up 9% versus prior-year adjusted pro forma, and margin increased 150 basis points (bps) to 18.2%. GAAP EPS was $1.30, down 41% and 29% versus prior-year GAAP and pro forma, respectively. Non-GAAP EPS³ was $2.83, up 13% versus prior-year adjusted pro forma.

“Our top priority continues to be the safety of our workforce, and I am proud of their dedication as well as the progress we have made delivering on customer and shareholder commitments during the pandemic. We’re now at the 1-year mark post-merger and our performance highlights the benefits of the combination,” said William M. Brown, Chairman and Chief Executive Officer. “Our traction with the integration and execution against strategic priorities give us confidence in our current-year outlook and position us well over the medium term."

Summary Financial Results