L3Harris Technologies Inc

LHX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$652.00	Fmgshx	Mdytqfw

L3Harris Posts Strong Bookings as Supply Constraints Limit Sales

Burkett Huey

Jul 29, 2022

Narrow-moat-rated L3Harris Technologies posted a 6.0% organic revenue decline as supply chain challenges limited sales. Sales of $4.1 billion missed FactSet consensus by 2.1%, but non-GAAP earnings per share of $3.23 beat these estimates by 1.7%. After adjusting our model for second-quarter earnings, we are increasing our fair value estimate to $236 per share from $233 due to the time value of money.

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