L3harris Technologies (LHX) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $6.060B, up 7% reported and 9% organically; diluted EPS rose 33% to $3.28, and free cash flow was $1.260B, up 195%.

• Orders of $19.3B drove 3.2x book-to-bill and record backlog of $53.2B, including $31.2B funded.

• Growth across all three segments and major missile awards supported results; execution, capacity expansion, supply-chain conditions and budget timing remain considerations.

Financial highlights

• Revenue was $6.060B versus $5.659B; Q3 2026 had 13 weeks versus 14 weeks in Q3 2025, while organic growth was 9%.

• Operating income rose 27% to $786M from $621M; consolidated operating margin expanded to 13.0% from 11.0%.

• Net income was $632M versus $462M; net income available to common shareholders was $613M, and diluted EPS was $3.28 versus $2.46.

• Operating cash flow was $1.439B and free cash flow was $1.260B versus $427M; capital expenditures were $179M and R&D was $143M.

• YTD revenue was $17.685B versus $16.217B; diluted EPS was $9.13 versus $6.92.

Outlook and guidance

• FY2026 revenue guidance increased to $23.5B–$23.7B from $23.2B–$23.7B; organic growth guidance is 9%–10%, up from 8%–10%.

• FY2026 GAAP EPS guidance rose to $12.25–$12.35 from $11.80–$12.00; free cash flow guidance remains $3.0B.

• FY2026 segment operating margin guidance remains in the low 16% range; operating cash flow is expected to be ~$3.6B with ~$600M of capital expenditures.

• 2028 framework retains 8% organic revenue CAGR; segment margin is 16% versus prior 16.3%, and free cash flow is $3B+ versus prior $3.5B.

• Segment revenue outlook: Space & Mission Systems ~$11.9B, Communications & Spectrum Dominance ~$7.9B and Missile Solutions ~$4.1B.