The logo of L3Harris is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., July 1, 2019. REUTERS/Brendan McDermid/File photoL3Harris lifted the upper-end of its annual adjusted profit target on Thursday, betting on sustained weapons demand and robust defense spending amid escalating global security concerns.
Following the Aerojet buyout in 2023, L3Harris suspended its merger and acquisition activity for the"foreseeable future" in efforts to strengthen its balance sheet. The company now expects the upper-end of its annual adjusted profit to be $13.05 per share, up from its previous guide of $12.80 per share.
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