AI English summary of an SEC filing — figures as filed
L3Harris LHXThe company said revenue for Q1 2024 was $5,211 million, up 17% from $4,471 million a year earlier, and operating income was $378 million, down 4% from $393 million.
Key points
AI summaryThe company said revenue for Q1 2024 was $5,211 million, up 17% from $4,471 million a year earlier, and operating income was $378 million, down 4% from $393 million.
L3Harris said its GAAP operating margin for Q1 was 7.3%, down 150 basis points, while its adjusted segment operating margin expanded 80 basis points to 15.1%. The company cited higher LHX NeXt implementation costs and intangible amortization from the Aerojet Rocketdyne acquisition as factors behind the GAAP decline.
The company said diluted earnings per share (EPS) for Q1 2024 were $1.48, down 16% from $1.76 a year earlier, while Non-GAAP EPS was $3.06, up 7% from $2.86.
L3Harris said cash used in operating activities for Q1 was $(104) million and adjusted free cash flow was $(156) million, citing working capital and capital expenditure timing. It said its adjusted free cash flow outlook for 2024 of approximately $2.2B is unchanged from the prior outlook.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Q1 Revenue $5,211 million, Operating Income $378 million
The company said revenue for Q1 2024 was $5,211 million, up 17% from $4,471 million a year earlier, and operating income was $378 million, down 4% from $393 million.
Source · Based on the filing body and exhibits
GAAP Operating Margin 7.3%, Adjusted Segment Operating Margin 15.1%
L3Harris said its GAAP operating margin for Q1 was 7.3%, down 150 basis points, while its adjusted segment operating margin expanded 80 basis points to 15.1%. The company cited higher LHX NeXt implementation costs and intangible amortization from the Aerojet Rocketdyne acquisition as factors behind the GAAP decline.
Source · Based on the filing body and exhibits
Q1 EPS $1.48, Non-GAAP EPS $3.06
The company said diluted earnings per share (EPS) for Q1 2024 were $1.48, down 16% from $1.76 a year earlier, while Non-GAAP EPS was $3.06, up 7% from $2.86.
Source · Based on the filing body and exhibits
Q1 Operating Cash Flow $(104) million
L3Harris said cash used in operating activities for Q1 was $(104) million and adjusted free cash flow was $(156) million, citing working capital and capital expenditure timing. It said its adjusted free cash flow outlook for 2024 of approximately $2.2B is unchanged from the prior outlook.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
You can verify the report’s figures and statements in the original filing on SEC EDGAR.