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Earnings Soar At L3Harris In First Quarter As COVID Impacts Ebb

Cal Biesecker By
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Earnings Soar At L3Harris In First Quarter As COVID Impacts Ebb
L3Harris Technologies Chairman and CEO William Brown. Photo: L3Harris Technologies

L3Harris Technologies [LHX] last Friday reported strong earnings in its first quarter due to gains across its business segments and fewer impairment charges related to the COVID-19 pandemic although sales remained relatively flat. Net income increased 140 percent to $466 million, $2.25 earnings per share (EPS), from $194 million (99 cents EPS) a year ago. Adjusted earnings, which exclude impacts from COVID and the divestiture of the former aviation security business, were up 7 percent to $862 million ($3.18 EPS),…

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