Will Merger Related Costs Mar L3Harris' (LHX) Q3 Earnings?
Zacks Investment Research | Oct 27, 2019 10:07PM ET
L3Harris Technologies, Inc. (NYSE:LHX) is scheduled to release third-quarter 2019 results on Oct 30, before the opening bell.
The upcoming quarterly results are expected to primarily reflect the impact of L3 Technologies’ successful merger completion with Harris Corp in July 2019.
Let’s take a detailed look at this and the other factors that may have influenced the company’s performance in the soon-to-be-reported quarter.
Factors at Play
At the onset of third-quarter 2019, L3Harris Technologies was formed following the merger of L3 Technologies and Harris Corp. Following the merger, joint efforts of these two industry leading corporations are expected to have boosted the combined company’s top line.
In July, L3Harris delivered its eighth navigation payload to GPS III satellite prime contractor Lockheed Martin (NYSE:LMT) . Such deliveries must have translated into positive revenue recognition for L3Harris in the third quarter. Further, in August, the company’s training center for commercial airline pilots was inaugurated in London. The training center has already been witnessing strong demand, with 15 international airlines training pilots at the site. So, by the end of third quarter, we expect this training center to have generated sufficient revenues, in turn, contributing to L3Harris’ quarterly top line.
The Zacks Consensus Estimate for L3Harris’ third-quarter revenues is pegged at $4.45 billion, indicating a massive 188.7% surge from the year-ago quarter’s reported figure.
L3Harris Technologies Inc Price and EPS Surprise
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