Third quarter revenue was flat as a ramp in fuzing, ordinance and guidance systems in Defense Aviation Products was offset by a decline in Commercial Training Solutions and the competitive loss of the USAF C-17 contract. Operating income increased 32% to $127 million, and margin expanded 330 bps to 13.4%, driven by improved performance, including for Electron Devices, and integration savings, partially offset by mix.

L3Harris received $116 million in awards for combat propulsion systems supporting the U.S. Army's ground vehicle recapitalization strategy. Additionally, the company was awarded an initial task order against a $99 million IDIQ as part of the Army's Future Tactical UAS program.

The company continued its solid position in military training and commercial aviation systems with a $74 million award for Army flight training and $50 million in awards from the Transportation Security Administration for security and detection systems.

Year-to-date segment revenue was flat with a funded book-to-bill of 1.05. Operating income increased 17% and operating margin expanded 170 bps to 11.5%.

Cash and Capital Deployment

	($ millions)		Third Quarter												Year-to-Date
			CY 2019				CY 2018				Change				CY 2019				CY 2018				Change
	Operating cash flow		$	81			$	117			$	(36	)		$	797			$	495			$	302
	Adjusted free cash flow6		$	618			$	277			$	341			$	1,629			$	942			$	687

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »