L3Harris posts strong first-quarter 2026 results

L3Harris Technologies reported first-quarter 2026 results on April 30, highlighting double-digit growth and a record backlog as defense demand accelerates.

Revenue rose 12% to $5.7 billion, or 15% organically. Orders reached $7.8 billion, producing a book-to-bill ratio of 1.4x and pushing backlog to a record $40.7 billion. Operating margin expanded 120 basis points to 11.4%, while segment operating margin increased 10 basis points to 15.7%. GAAP diluted earnings per share were $2.72, up 33%. The company also updated its 2026 EPS guidance.

“We continue to execute against our Trusted Disruptor strategy with both urgency and discipline, leveraging speed and scale to meet the evolving needs of our customers. Our results reflect the strength of our portfolio and its alignment with the nation’s most critical defense missions. We operate in a dynamic global environment, where demand is accelerating and the future of warfare is driving near-term operational priorities. Across the portfolio, we quickly adapt to mission needs and scale our operations to meet increasing demand, accelerating growth across our enterprise,” said Christopher Kubasik, Chairman and CEO.

Kubasik added, “We delivered a strong start to the year with robust orders and revenue growth coupled with progress across our strategic priorities. We are well positioned for the next phase of growth and value creation, remain on track to deliver on our 2026 commitments and continue to advance toward the 2028 Financial Framework we outlined earlier this year.”

The company noted that its forward-looking statements, including 2026 guidance, planned investments, anticipated contract impacts, the 2028 financial framework, potential divestiture timing and a planned public offering by Missile Solutions, are subject to risks and uncertainties. Cited factors include competitive dynamics, U.S. government spending priorities, contract mix shifts, potential unilateral government contract actions or issues tied to a government investment in a subsidiary, economic and geopolitical conditions, supply chain disruptions, indebtedness and interest rates, and changes in tax rates or exposures.