L3Harris Technologies, Inc. reported a significant increase in financial performance for the first quarter of 2026, with total revenue reaching $5.744 billion, a 12% increase from $5.132 billion in the same period last year. The company's net income also rose to $512 million, compared to $386 million in the first quarter of 2025, resulting in diluted earnings per share of $2.72, up from $2.04. This growth was attributed to higher volumes across all segments, driven by new program ramps and increased international deliveries.
The company experienced notable changes in its operational structure, having streamlined its business segments from four to three, which are now Space & Mission Systems, Communication & Spectrum Dominance, and Missile Solutions. This reorganization aims to align common capabilities and business models more closely. The first quarter results reflected this shift, with the Space & Mission Systems segment reporting a 24% increase in revenue to $2.990 billion, while the Communication & Spectrum Dominance segment saw a 3% increase to $1.855 billion. The Missile Solutions segment also reported an 18% increase in revenue to $990 million.
In terms of operational metrics, L3Harris reported a total contractual backlog of $40.7 billion as of April 3, 2026, with expectations to recognize approximately 40% of this backlog as revenue over the next twelve months. The company’s employee headcount remained stable, and it continued to invest in research and development, with company-funded R&D costs increasing to $146 million from $111 million year-over-year. The company also maintained a strong cash position, ending the quarter with $590 million in cash and cash equivalents.
The filing also highlighted strategic developments, including a recent agreement with the U.S. Department of War for a $1 billion investment in Aerojet Rocketdyne Holdings, Inc., aimed at enhancing the U.S. defense industrial base. This investment is expected to support the expansion and modernization of facilities and increase production capacity for critical technologies. Looking ahead, L3Harris anticipates continued growth driven by favorable government spending trends and ongoing demand for its defense and technology solutions, despite potential challenges from inflation and geopolitical tensions.
About L3HARRIS TECHNOLOGIES, INC. /DE/
L3Harris Technologies is a leading defense contractor providing integrated solutions across space, air, land, sea, and cyber domains. Its core segments include Space & Airborne Systems, Integrated Mission Systems, Defense Electronics, and Communication Systems, serving government and commercial markets worldwide. The company offers advanced technology products, systems, and services focused on national security, intelligence, and aerospace, leveraging innovation and strategic partnerships to maintain a competitive edge.
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