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l3harris.comOCT 294 min read$LHX

L3Harris Delivers Record Backlog and Strong Third-Quarter Results

L3Harris (NYSE: LHX) reported Q3 2026 revenue of $6.1B, up 7% YoY, with EPS of $3.28, up 33%. Backlog reached $53.2B, driven by $19.3B in orders. Guidance raised: revenue to $23.5B-$23.7B, EPS to $12.25-$12.35. Free cash flow was $1.3B, up 195%.

Original reporting
l3harris.com
Published Oct 29, 2026, 10:05 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Oct 29, 2026, 10:49 AM UTC. Informational, not investment advice.
How this was made
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L3Harris Delivers Record Backlog and Strong Third-Quarter Results — source image
Source · l3harris.com
Decision brief

The 30-second read

$LHXBullishHigh
01

Why it matters

The company delivered strong Q3 operating performance, record backlog supported by large orders, and raised the bottom end of FY26 revenue and GAAP EPS guidance, alongside a large free-cash-flow improvement.

02

Market read

This is a decision-grade earnings and guidance update with record backlog and cash flow, likely driving near-term re-rating and positioning for FY26 defense demand.

03

What to watch

Book-to-bill varies sharply by segment (e.g., Missile Solutions 11.8x vs Space & Mission Systems 1.0x), which could create uneven earnings trajectory and mix-driven margin risk.

Relevance 9/10Novelty 9/10Timing: post-market earnings release, guidance update effective immediately for positioning

Background

L3Harris is a defense and aerospace contractor with exposure to missiles, space systems, resilient communications, and electronic warfare.

Company-level read

Ticker impact

$LHXBullishHigh confidence
Context

L3Harris reported Q3 results with record $53.2B backlog, $19.3B orders, and raised FY26 revenue and GAAP EPS guidance ranges.

Expected impact

Likely upward bias as the market prices in stronger FY26 revenue/EPS and improved backlog-to-revenue conversion.

Evidence & confidence

The release includes multiple decision-grade datapoints: record backlog, book-to-bill 3.2x, EPS growth, free cash flow surge, and explicit guidance increases for revenue and GAAP EPS.

Market effects

Sector

Reinforces demand visibility in defense electronics, missiles, and space systems, potentially supporting sentiment across defense primes and subcontractors.

Regional

Limited direct regional read-through; primarily US defense procurement sentiment.

Global

Moderate, as THAAD/PAC-3 and electronic warfare demand signals persist across allied procurement cycles.

Counterpoint

What could challenge this read

Guidance increases may already be partially anticipated; investors may focus on whether backlog conversion and margin durability can sustain beyond FY26.

Key entities

  • company
    L3Harris Technologies

    Reported Q3 2026 results, record backlog/orders, and increased FY26 revenue and GAAP EPS guidance.

  • program
    THAAD

    L3Harris received a seven-year undefinitized contract to scale propulsion production.

  • program
    PAC-3 MSE

    L3Harris received a seven-year undefinitized contract to scale propulsion production.

  • program
    VAMPIRE C-UAS

    L3Harris secured VAMPIRE C-UAS orders and delivered initial units to the U.S. Army.

  • program
    U.S. Navy NGJ-LB

    L3Harris received a contract modification to advance development and production preparation.

Read at source← All news

StoryL3Harris reports record Q3 backlog and raises FY2026 revenue and EPS outlook

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