Harris Corp. Raises 2019 Guidance - Quick Facts

(RTTNews) - Harris Corp. (HRS) said it achieved double-digit EPS growth for the third-quarter driven by the company's highest organic revenue growth and margin in the past eight years. The company said the results position it well to deliver on increased revenue, EPS and free cash flow guidance for the year.

For fiscal 2019, the company now expects non-GAAP EPS of approximately $8.15, increased from previous guidance range of $7.90 - $8.00. Revenue is projected to be $6.72 billion, up approximately 9.0% from fiscal 2018 (increased from previous guidance of up 8.0 - 8.5%). Analysts polled by Thomson Reuters expect the company to report profit per share of $8 on revenue of $6.69 billion. Analysts' estimates typically exclude special items.

For the third-quarter, non-GAAP earnings per share from continuing operations was up 30% to $2.11. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $2.03 for the quarter. Revenue rose 11% to $1.7 billion. Analysts expected revenue of $1.69 billion for the quarter.