L3Harris Technologies, Inc. reported a revenue increase of 3% for the fiscal year ending January 2, 2026, reaching $21.865 billion compared to $21.325 billion in the previous year. The company's net income also rose to $1.606 billion, or $8.53 per diluted share, up from $1.502 billion, or $7.87 per diluted share, in fiscal 2024. This growth was attributed to higher volumes across all segments, particularly in international deliveries and new program ramps, despite the impact of the divestiture of its Commercial Aviation Solutions (CAS) segment.
The company underwent significant organizational changes, streamlining its business segments from four to three, effective in fiscal 2026. The new segments will be Space & Mission Systems, Communication & Spectrum Dominance, and Missile Solutions. This restructuring aims to better align capabilities and enhance operational efficiency. Additionally, L3Harris completed the divestiture of its CAS segment in March 2025, generating $820 million in cash proceeds, and announced a strategic investment from the Department of War, which includes a $1 billion convertible preferred security linked to the planned IPO of its Missile Solutions business.
Operationally, L3Harris reported a contractual backlog of $38.7 billion, a 13% increase from the previous year, with expectations to recognize approximately 45% of this backlog as revenue by the end of fiscal 2026. The company employed around 45,000 individuals, including 18,000 engineers and scientists, and hired approximately 6,000 new employees during fiscal 2025. The majority of its revenue, 75%, was derived from U.S. government contracts, reflecting the company's strong reliance on defense spending.
Looking ahead, L3Harris anticipates continued growth driven by its focus on innovation and operational excellence. The company plans to invest in research and development, with $536 million allocated in fiscal 2025, representing 2% of total revenue. The management expressed confidence in maintaining a competitive edge through strategic partnerships and technological advancements, despite potential challenges posed by macroeconomic conditions and government budget uncertainties.
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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