• L3Harris Technologies recently reported first-quarter 2026 results showing sales of US$5,744 million and net income of US$512 million, while also modestly raising its full-year 2026 revenue and diluted EPS guidance.
• The combination of higher quarterly earnings per share and tighter, upgraded EPS guidance highlights management’s confidence in the company’s operating performance and outlook.
• Next, we’ll explore how this upgraded 2026 earnings guidance may affect L3Harris’s existing investment narrative and its longer-term assumptions.

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L3Harris Technologies Investment Narrative Recap

To own L3Harris today, you need to believe in steady demand for its mission critical defense and space technologies and its ability to convert that demand into disciplined earnings growth. The raised 2026 revenue and EPS guidance reinforces the near term earnings catalyst but does not remove key risks around U.S. budget constraints in space and exposure to fixed price development work.

The upgraded 2026 outlook sits alongside L3Harris’s Virginia Advanced Propulsion Facilities expansion, which significantly increases solid rocket motor capacity and underpins its missile related growth thesis. Together, the guidance raise and propulsion investments frame a story where execution on large, complex programs matters as much as end market demand.

Yet against this positive earnings guidance, investors should be aware that fixed price development contracts could still...

L3Harris Technologies' narrative projects $27.2 billion revenue and $2.9 billion earnings by 2029. This requires 7.6% yearly revenue growth and about a $1.3 billion earnings increase from $1.6 billion today.

Uncover how L3Harris Technologies' forecasts yield a $392.16 fair value, a 30% upside to its current price.

Exploring Other Perspectives

Three members of the Simply Wall St Community now see L3Harris’s fair value in a tight US$392 to US$415 band, well above the current share price. You can weigh these views against the raised 2026 earnings guidance and ongoing risks around U.S. space budget constraints to consider how different scenarios might influence the company’s future performance.

Explore 3 other fair value estimates on L3Harris Technologies - why the stock might be worth as much as 38% more than the current price!

Reach Your Own Conclusion

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

• A great starting point for your L3Harris Technologies research is our analysis highlighting 6 key rewards and 2 important warning signs that could impact your investment decision.
• Our free L3Harris Technologies research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate L3Harris Technologies' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.