L3Harris Technologies (LHX) Tops Q4 EPS by 5c, Revenues Miss; Offers FY21 Revenue Guidance Below Consensus, FY21 EPS Mid-Point Outlook Below Consensus

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L3Harris Reports Fourth Quarter and 2020 Results; Initiates 2021 Guidance

January 29, 2021 6:30 AM EST

Fourth Quarter 2020 Results Revenue of $4.7 billion, down 3.6% versus prior year; flat on an organic1 basis; funded book-to-bill of 0.93 Net income margin of 3.9%; adjusted earnings before interest and taxes (EBIT)2 margin of 18.5% GAAP earnings per share from continuing operations (EPS) of $0.92, down 48% Non-GAAP EPS2 of $3.14, up 10% Operating cash flow of $698 million; adjusted free cash flow (FCF)2 of $642 million Full Year 2020 Results Revenue of $18.2 billion, up 42% versus prior year, 0.5% versus prior-year pro forma3, and 2.9% on an organic... More