BUZZ-L3Harris falls after cutting 2025 earnings forecasts

Reuters
04-24
BUZZ-L3Harris falls after cutting 2025 earnings forecasts

** U.S. defense contractor L3Harris Technologies LHX.N shares fall 2% to $212 premarket trading

** Co cuts annual earnings forecasts after missing quarterly sales expectations, hurt by decreased volumes in its space unit and the divestment of its aviation solutions business

** Florida-based co expects an adj. profit of between $10.30 and $10.50/share in 2025, lower than its previous forecast of $10.55 to $10.85/share

** LHX posts Q1 adj. EPS of $2.41, compared with expectations of $2.32, according to data compiled by LSEG

** Co reports Q1 total revenue of $5.13 bln, lower than estimate of about $5.22 bln

** 18 of 24 brokerages rate the stock "buy" or higher, 6 "hold"; their median PT is $253

** As of last close, stock had risen 2.9% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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