Harris Narrows FY18 Revenue And EPS Guidance

(RTTNews) - Harris Corp. (HRS) said it narrowed fiscal 2018 revenue and earnings per share guidance to high end of prior range. It Increased fiscal 2018 adjusted free cash flow guidance.

The company now expects 2018 revenue of approximately $6.14 billion, up 4% from fiscal 2017. It is tightened from previous guidance of $6.08 billion - $6.14 billion, up 3% - 4%.

The company projects annual GAAP earnings per share from continuing operations to be in the range of $5.93 - $5.98 and non-GAAP earnings per share from continuing operations of $6.45 - $6.502. It is tightened from previous guidance of $5.78 - $5.98 GAAP and $6.30 - $6.50 non-GAAP.

The company increased 2018 adjusted free cash flow outlook to a range of $900 million - $925 million, from the previous guidance of approximately $900 million. Analysts polled by Thomson Reuters expect the company to report earnings of $6.46 per share and revenues of $6.12 billion for 2018. Analysts' estimates typically exclude special items.