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Beat-and-raise earnings report with a record backlog and margin/cash-flow strength typically supports valuation upside; near-term price may drift higher as investors digest stronger guidance, despite a minor after-hours move.
What happened, with direct paths to the underlying reporting
L3Harris delivered a strong Q2 with EPS of $3.13 on $5.88B in revenue, beating expectations. Backlog climbed to a record $42B with a 1.2x book-to-bill, while margins and cash flow improved. The company lifted 2026 guidance to $11.80–$12.00 per share and $23.2–$23.7B in revenue, signaling durable demand and potential upside for shares despite a modest after-hours dip.
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