L3Harris Technologies reported strong second quarter 2026 results with revenue of $5.9 billion, up 8% year-over-year. The aerospace and defence company posted diluted earnings per share of $3.13, a 28% increase. Orders reached $7.3 billion with a book-to-bill ratio of 1.2x, pushing backlog to a record $42 billion. Operating margin improved 60 basis points to 11.1%, whilst segment operating margin reached 16.0%. Operating cash flow rose 37% to $879 million, and free cash flow increased 37% to $771 million. Capital expenditures totalled $108 million. The company raised its full-year 2026 guidance, now expecting consolidated revenue of $23.2 billion to $23.7 billion and diluted EPS of $11.75 to $11.95. Growth was driven across all segments including Space & Mission Systems, Communications & Spectrum Dominance, and Missile Solutions.

L3Harris Technologies has signed two seven-year contracts with the Department of Defense and Lockheed Martin to expand production of propulsion components for missile defence systems. The investment amount was not disclosed. Under the agreements, L3Harris will triple manufacturing of propulsion products for the Patriot Advanced Capability-3 Missile Segment Enhancement system and quadruple production for the Terminal High Altitude Area Defense missile system. Lockheed Martin serves as the prime contractor for both weapons systems. The defence contractor is investing billions across its portfolio, building approximately 60 facilities and adding nearly 1 million square feet of manufacturing space at US solid rocket motor sites. In April, L3Harris announced plans to spend $1.3 billion on an advanced propulsion campus in Virginia.

L3Harris Technologies has secured a contract from the US Space Force's Space Development Agency to produce 18 Accelerated Missile Defense Tranche 3 satellites. The satellites will enhance America's space-based missile tracking capabilities, designed to detect and track advanced threats from hypersonic and ballistic weapons. L3Harris will manufacture the satellites at its expanded facility in Indiana and integrate them at a new facility in Florida. The AMDT3 satellites feature medium-field-of-view payloads that provide fire control quality data for missile defence. The contract builds on L3Harris' existing work, including a successful on-orbit demonstration of its Hypersonic and Ballistic Tracking Space Sensor satellite. The company currently has over 70 missile tracking and defence satellites on order, with five already in orbit.