Highlights*
2024 orders of $24.2 billion; book-to-bill of 1.14x
2024 revenue of $21.3 billion, up 10%, and 4% organically
2024 cash from operations of $2.6 billion, adjusted free cash flow of $2.3 billion
4Q24 revenue of $5.5 billion, up 3%, and 4% organically
4Q24 operating margin of 10.3% and 9.0% for 2024
4Q24 adjusted segment operating margin of 15.3% and 15.4% for 2024
4Q24 diluted earnings per share (EPS) of $2.37 and $7.87 for 2024
4Q24 non-GAAP diluted EPS of $3.47 and $13.101 for 2024
MELBOURNE, Fla., January 30, 2025 - L3Harris Technologies (NYSE: LHX) reported fourth quarter 2024 diluted EPS of $2.37 on fourth quarter 2024 revenue of $5.5 billion. Fourth quarter 2024 non-GAAP diluted EPS was $3.47. Fourth quarter results reflect growth in the business and continued operational efficiencies driving margin improvement. Reconciliations of non-GAAP results are detailed in tables beginning on page 13.
2024 was a year of significant accomplishments as we delivered on our financial commitments, underscoring our agility and position as the defense industry's Trusted Disruptor, and achieved a record backlog of $34 billion. These results reflect our alignment with customer priorities, driving strong demand across all domains. Through our LHX NeXt initiative, we exceeded our cost-savings target for 2024, achieving $800 million, and are raising our overall cost-savings goal to $1.2 billion by the end of 2025, a year ahead of schedule, said Christopher E. Kubasik, Chair and CEO.
Kubasik added, As we move into 2025, our momentum remains strong, driven by strong bookings, a robust pipeline, expanding international opportunities, and continued transformation and operational improvements. We are on track to achieve our 2026 financial framework and remain committed to returning excess cash to shareholders. We are confident in our ability to sustain profitable growth and drive long-term value for our stakeholders. We are the agile defense player that is able to rapidly adapt to changing industry dynamics to deliver mission-critical capabilities for our customers.
Conference Call and Webcast
L3Harris Technologies will host an earnings call on January 30, 2025, at 10:30 a.m. Eastern Time (ET). Participants are encouraged to listen via webcast, which will be broadcast live at L3Harris.com/investors. The dial-in numbers for the teleconference are (U.S.) 800-549-8228 and (International) 289-819-1520, and participants will be directed to an operator. A recording of the call will be available on the L3Harris website, beginning at approximately 12 p.m. ET on January 30, 2025.
Forward-Looking Statements
This earnings release contains forward-looking statements within the meaning of federal securities laws made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples include, but are not limited to: share repurchases; potential divestitures and their timing; 2024 guidance; 2026 financial framework; anticipated LHX NeXt initiative costs and savings targets; 2026 margins; supplemental information for 2024; projection of other financial items; and assumptions underlying any of the foregoing. Investors should not place undue reliance on forward-looking statements, which reflect management's current expectations, estimates, projections, assumptions and information currently available to management, and are not guarantees of future performance or actual results. Important risks that could cause our results to differ materially from those expressed in or implied by these forward-looking statements or from our historical results include, but are not limited to, risks arising from: competitive markets; U.S. Government spending priorities; changes in contract mix; inflation; unilateral contract action by the U.S. Government; uncertain economic conditions; future geo-political events; supply chain disruptions; impacts of LHX NeXt; indebtedness; defined benefit plan liabilities and returns; interest rates and other market factors; changes in effective tax rate or additional tax exposures; pending and contemplated divestitures. These and other important risks that could impact forward-looking statements are described more fully in the Risk Factors in our Form 10-K for fiscal 2023 filed with the SEC. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are qualified by the cautionary statements in this section, and we have no duty to and disclaim any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events or developments or otherwise.
*Organic revenue, adjusted segment operating margin, non-GAAP diluted EPS and adjusted free cash flow are non-GAAP financial measures defined on page 19.
View full release PDF with tables on our Investor Relations page.
Most recent headlines
30/01/2025
Steven Yeun and Kristen Stewart at the Love Me premiere (photo by George Pimentl...
30/01/2025
The supply capability of SGL Carbon, a leading international supplier of carbon-...
30/01/2025
Highlights*
2024 orders of $24.2 billion; book-to-bill of 1.14x
2024 revenue o...
30/01/2025
BOSTON - November 7, 2024 - Brightcove (NASDAQ: BCOV), the world's most trus...
30/01/2025
BOSTON - January 16, 2025 - Brightcove (NASDAQ: BCOV), the world's most trus...
30/01/2025
NEW YORK, Jan. 29, 2025 - Black audiences spend 32 hours on apps and websites on...
30/01/2025
Auckland - January 30, 2025 - Data released today by Nielsen Ad Intel and Nielse...
30/01/2025
class=attachment-thumbnail size-thumbnail f-align-center alt= decoding=async data-lazy-srcset=https://www.antonbauer.com/wp-content/uploads/2025/01/David-Pasko-...
30/01/2025
WUPPERTAL, Germany Riedel Communications has announced the acquisition of MECSware, a leading specialist in Private 5G technologies, and the launch of the priva...
30/01/2025
When it comes to current TV-viewing trends, viewers worldwide prefer scripted content to unscripted content, according to a new study from BB Media. But which p...
30/01/2025
COLOGNE, Germany RTW today made available its V 1.3 software for its TouchControl 5 hardware meter, offering support for dialog-gated loudness measurement....
30/01/2025
Ateliere Expands Live Production Workflows with Rapid Integration API for Techno...
30/01/2025
Blackmagic Design Powers More than 40 Sundance 2025 Projects
Brie Clayton January 30, 2025
0 Comments
Independent filmmakers relied on Blackmagic Desi...
30/01/2025
Sony Captures Every Angle of Super Bowl LIX to Elevate the Fan Experience
Brie Clayton January 30, 2025
0 Comments
Over 100 Broadcast Cameras plus Ext...
30/01/2025
LONDON & LOS ANGELES ThinkAnalytics has announced that Dish Network has selected the Think360 content discovery platform, along with ThinkContentExplorer to str...
30/01/2025
NEW YORK Three-fourths of viewers who watch free ad-supported streaming television (aka FAST channels) want to be able to watch all of those channels on a sin...
30/01/2025
The department will be overseen by Hotcams head of engineering, Hugo Santos
By Jenny Priestley
Published: January 30, 2025
The department will be overseen...
30/01/2025
The solution provides users with remote low latency colour grading as part of Baselight 6.0
By Matthew Corrigan
Published: January 30, 2025
The solution p...
30/01/2025
Proposed expansion plans include new film stages and a data centre
By Matthew Corrigan
Published: January 30, 2025
Proposed expansion plans include new fi...
30/01/2025
According to reports, MFE has submitted a non-binding bid to acquire news channels TVN24 and TVN24BiS
By Jenny Priestley
Published: January 30, 2025
Accor...
30/01/2025
SAN DIEGO Sony said a record number of its cameras will be trained on the Super Bowl Feb. 9, when the Kansas City Chiefs meet the Philadelphia Eagles in New Orl...
30/01/2025
LONDON FilmLight has officially launched FilmLight REMOTE, a remote color-grading solution that allows post houses and colorists to work remotely without sacrif...
30/01/2025
LOS ANGELES Cineverse has announced that JoySauce is using its streaming platform Matchpoint to license, monetize and distribute their full library of original ...
30/01/2025
Pliant Technologies, a leading provider of professional wireless intercom solutions, announces an important, new distribution agreement with Leading Technologie...
30/01/2025
Ateliere Creative Technologies, a leading GenAI media software solutions company, has made available a new Application Programming Interface (API) for Ateliere ...
30/01/2025
NAKIVO Inc., a leading provider of data protection solutions for physical, virtual, cloud, and SaaS environments, announced today strong Q4 2024 results, highli...
30/01/2025
TAG has announced a partnership with Tencent Cloud, the cloud business of the leading global technology company Tencent.
Through this partnership, TAG will all...
30/01/2025
Today, Chaos launches V-Ray 7 for Maya and V-Ray 7 for Houdini with new features that accelerate everything from fast 3D environment creation to production shad...
30/01/2025
Supercars Media and EMG / Gravity Media, a world leading global provider of complex live creative production and media services, today outlined the broadcast an...
30/01/2025
Brainstorm, leading manufacturer of real-time 3D graphics and virtual studio solutions, is contributing to the media and broadcasting world's undergoing rev...
30/01/2025
30 Jan 2025
VEON Gets Unanimous Support from Noteholders Voting in Consent Soli...
30/01/2025
Super Bowl LIX: Beyonc 's Holiday NFL Halftime Show Resets the Wireless-Audi...
30/01/2025
NHL Launches New Weekly Animated Recap Show NHL HOCKEYVERSE Matchup of the Week...
30/01/2025
Super Bowl LIX: Telemundo Announces Programming for the Big Game News, entertainment shows will lead up to the game's largest Spanish-language distribution ...
30/01/2025
Riedel Acquires MECSware, Allowing Customers To Tap Into Private 5G More Easily The Private 5G specialist will be part of Riedel Group but remain an independent...
30/01/2025
ESPN To Deploy Two Live Drones for Broadcast of Pro Bowl Weekend Festivities Access is key in coverage of skills competitions and flag football game By Mark J ...
30/01/2025
Disney Entertainment & ESPN Creates Product Engineering Group; Hires Andre Rohe ...
30/01/2025
SVG New Sponsor Spotlight: ProximaVision Aerospace Systems' Walter Raps on t...
30/01/2025
ESPN and ACC Re-Up Media Rights Deal Through 2035-36 The ESPN and ACC relationship has spanned more than 35 years and includes ACC Network By Jason Dachman, Ed...
30/01/2025
From tough guy to tux: Danny Dyers butler transformationEast End geezer lands new role as a butler alongside fellow actor JosephThursday 30 January 2025
Danny ...
30/01/2025
Enabling connections, empowering innovations: Rohde & Schwarz presents its mobil...
30/01/2025
Wuppertal January 30, 2025
Riedel Expands 5G Expertise with MECSware Investmen...
30/01/2025
Back to All News
Reza Rahardian and Sheila Dara Aisha Light Up the Screen: Netf...
30/01/2025
Back to All News
Trailer for Dalah: Death and the Flowers' Reveals More Cl...
30/01/2025
Back to All News
Are You in for the Final Game?: Squid Game' Season 3 to Premiere on June 27
Entertainment
30 January 2025
GlobalSouth Korea
Link copi...
30/01/2025
Back to All News
The First Season of The Eternaut Will Release Globally on Netf...
30/01/2025
Integrated into New Neopix and UHD Finepix LED Panels, Enhanced Tech Will Also B...
Highlights*
