L3Harris Technologies, Inc. reported its third quarter 2026 results on October 29, 2026, highlighting record backlog levels and strong financial performance across its segments.
For the third quarter, the company reported revenue of $6.1 billion, which represents a 7% increase compared to the prior year and a 9% increase on an organic basis. This growth was driven by double-digit increases in the Space & Mission Systems and Missile Solutions segments. Operating income margin was 13.0%, an increase of 200 basis points compared to the prior year, while segment operating margin remained flat at 15.9%.
GAAP diluted earnings per share (EPS) for the quarter increased 33% year-over-year to $3.28. The company generated $1.4 billion in operating cash flow and $1.3 billion in free cash flow, which is a 195% increase compared to the prior year.
Backlog reached a record level of $53.2 billion, driven by orders of $19.3 billion in the quarter. The book-to-bill ratio was 3.2x. By segment, the Space & Mission Systems book-to-bill was 1.0x, Communications & Spectrum Dominance was 1.9x, and Missile Solutions was 11.8x.
Management updated its fiscal year 2026 guidance, increasing the bottom end of the revenue range to $23.5 billion to $23.7 billion (previously $23.2 billion to $23.7 billion) and increasing the GAAP EPS range to $12.25 to $12.35 (previously $11.80 to $12.00). The company maintains its full-year free cash flow guidance of $3 billion.
Recent business highlights include the capture of a $6.3 billion contract to scale propulsion production for the THAAD system and a $4.7 billion contract for the PAC-3 Missile Segment Enhancement interceptor. Additionally, the company opened a new solid rocket motor production facility in Camden, Arkansas, and completed the launch of NASA's Nancy Grace Roman Space Telescope.
