Home / Financial Reports / McAleese & Associates: L3Harris Records 10% Sales Growth in Full Year 2019 Pro Forma Guidance

McAleese & Associates: L3Harris Records 10% Sales Growth in Full Year 2019 Pro Forma Guidance

Jim McAleese

A new report by consulting firm McAleese & Associates says L3Harris Technologies (NYSE: LHX) issued its full year 2019 pro forma guidance, posting a 10 percent sales increase at $18B and a sector operating margin of 16 percent.

Jim McAleese, founder and principal at McAleese & Associates and a 2019 Wash100 winner, wrote in the report that the company reported $6.8B in full year fiscal 2019 sales for standalone Harris and $5.3B in full FY 2019 revenue for standalone L3 Technologies.

L3Harris operates with four business segments and McAleese said the space and airborne systems sector and communications systems business were the two biggest profit drivers in 2019.

The company projects the integrated mission systems segment’s 2019 sales to grow by 11 percent and aviation systems business’ revenue to increase by 4 percent.

According to the report, L3Harris is keen on expanding the F-35 shipset value by as much as 55 percent between 2020 and 2021 and achieving growth in precision engagement, tactical radios, F-35, smallsats, space and classified programs.

Harris and L3 completed their all-stock merger in June eight months after they announced the transaction.

Check Also

Kevin McDonnell to Join AeroVironment as SVP, CFO

Kevin McDonnell, former senior vice president and chief financial officer of JAMS, has been appointed to the same positions at unmanned aircraft system maker AeroVironment (Nasdaq: AVAV). His appointment is effective Feb. 10 and he will succeed Brian Shackley, who has held the CFO role at AeroVironment on an acting basis since October, the company said Thursday.

Army Engineers Select Brayman for $320M Bluestone Dam Rehabilitation Contract

Brayman Construction has landed a potential nine-year, $319.6M contract from the U.S. Army Corps of Engineers to renovate recreational areas and equipment at the Bluestone Dam's stilling basin in West Virginia.