L3Harris Technologies

L3Harris Technologies reported Q2 2026 revenue of $5.9 billion, up 8% year-over-year, driven by growth across all three segments from new program starts and strong backlog execution. Operating income increased 15% to $654 million, with GAAP operating margin expanding 60 basis points to 11.1%. Diluted EPS grew 28% to $3.13, bolstered by higher net income and lower corporate expenses, though partially offset by lower asset gains versus Q2 2025. The company recorded a record $42 billion backlog with book-to-bill of 1.2x from $7.3 billion in orders. Free cash flow surged 37% to $771 million on operating cash flow of $879 million. Management raised 2026 guidance for consolidated revenue to $23.2–23.7 billion (from $23.0–23.5 billion) and for diluted EPS to $11.80–12.00 (from $11.40–11.60), citing strong execution and multi-year backlog visibility.