L3Harris Technologies says demand for company solutions ‘remains robust’

The company states: “National security is at the core of our mission and the customers we serve. Following the recent terrorist attacks in Israel, there are heightened geopolitical tensions worldwide further emphasizing the need for strengthened deterrence to support the U.S. and its allies. Despite these threats, the U.S. has begun the government fiscal year under a 48-day Continuing Resolution and with the looming threat of a government shutdown if Congress fails to act. Budgets will be further pressured as the U.S. attempts to balance priorities and a rising national debt. In times like these, our Trusted Disruptor strategy sets L3Harris apart from our peers. With a national security, technology-focused portfolio, we can meet our customers’ evolving needs across all domains. Demand for L3Harris solutions remains robust, and in the third quarter we received $5.0B in orders, bringing year-to-date funded book-to-bill to 1.17x. These orders were underpinned by strategic awards, including a $220 million contract for advanced solid rocket motors for the Army’s Guided Multiple Launch Rocket System, and a $200 million prime contract to deliver Maritime Underwater Tracking Ranges for the Royal Australian Navy. Since closing the Aerojet Rocketdyne (AR) acquisition on July 28, the leadership team and I have been actively engaged with our new colleagues across various sites. These sessions reaffirm our acquisition thesis with strong customer relationships, an energized employee base, and increasing product demand amid a heightened threat environment. We are already seeing the benefits of combining our resources and expertise with AR’s propulsion and energetics capabilities.”