On July 30, L3Harris Technologies, Inc. rose 3.61% in after-hours trading, reaching $305.0 per share with turnover of $32.045 million. The move followed the company's release of its fiscal Q2 earnings report after the close on July 29.

Heading into the report, market consensus expected Q2 revenue of $5.808 billion, representing 9.14% year-over-year growth, and adjusted earnings per share of $2.80, up 12.37% year-over-year. The company entered Q2 with strong momentum after a robust Q1, in which revenue of $5.74 billion and EPS of $2.72 both significantly exceeded analyst estimates. Following Q1, management raised its full-year EPS guidance to $11.40-$11.60 and analysts at RBC Capital Markets noted the outlook appeared conservatively set, with expectations for a guidance update alongside Q2 results.

Recent catalysts supporting the business include a US Space Force missile defense satellite contract, a $499.6 million Missile Defense Agency award, and continued progress toward the IPO of its missile solutions unit Axyv, which could raise up to $2 billion.

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