L3Harris Technologies (LHX) Tops Q1 EPS by 18c, Lowers FY Guidance
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L3Harris Reports First Quarter 2020 Results and Updates Outlook
May 5, 2020 6:30 AM EDT1Q20 revenue $4.6 billion; up 168% and 5% versus prior-year GAAP and pro forma1, respectively; funded book-to-bill of 1.11 1Q20 GAAP earnings per share from continuing operations (EPS) of $0.99, down 51% versus prior-year GAAP and down 43% versus prior-year pro forma 1Q20 non-GAAP2 EPS of $2.80, up 21% versus prior-year adjusted pro forma 1Q20 operating cash flow of $533 million; adjusted free cash flow3 of $533 million Adjusted 2020 outlook to reflect pandemic-related risks primarily in commercial aerospace Completed divestiture of airport security and automation business on May 4, 2020, for $1 billion
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