L3Harris Updates Annual Outlook

(RTTNews) - L3Harris Technologies, Inc. (LHX) on Friday Updated its outlook for the full year.

The company lowered its full-year revenue outlook to about $17.9 billion from $18.1 billion - $18.5 billion. On the other hand, its adjusted earnings outlook stands updated at $12.85 - $13.00, higher than the prior outlook of $12.80 - $13.

"In spite of unprecedented global supply chain disruptions that are reducing our organic revenue growth guidance for the year, we're positioned to meet our earnings and cash flow commitments," said Christopher Kubasik, Vice Chair and Chief Executive Officer.

In the third quarter, L3Harris reported net earnings of $479 million or $2.39 per share, higher than $430 million or $1.99 per share on lower expenses.

Revenue for the quarter declined 5% to $4.229 billion from $4.463 billion last year, hurt by supply chain issues.