FX.co ★ L3Harris Technologies, Inc. Q4 Profit Decreases, but beats estimates

L3Harris Technologies, Inc. (LHX) recently disclosed their earnings for the fourth quarter of last year, which showed a decrease compared to the same period in the previous financial year; nevertheless, the results surpassed Wall Street's expectations.

The company recorded a net income of $158 million or $0.83 per share, which is a drop from $416 million or $2.17 per share from the fourth quarter of the year before.

When excluding certain elements, L3Harris Technologies, Inc. posted an adjusted earnings of $3.35 per share for the quarter.

On average, analysts had predicted the company would earn $3.31 per share, according to data gathered by Thomson Reuters. These estimates customarily overlook special items.

The revenue of the company for the quarter increased by 16.6% to $5.34 billion, up from $4.58 billion the previous year.

To summarize, L3Harris Technologies, Inc.'s GAAP earnings for the fourth quarter are as follows:

- Earnings (Q4): $158 million against $416 million from last year.

- Earnings Per Share (EPS, Q4): $0.83 down from $2.17 last year.

- Analyst Estimates: $3.31

- Revenue (Q4): $5.34 billion as opposed to $4.58 billion last year.