LHX L3Harris Technologies (LHX) Q2 FY25 earnings call
L3Harris Technologies reported a strong Q2 FY25, marked by record orders and robust organic growth, driven by increased global defense spending and strategic portfolio alignment. The company is accelerating cost savings and production ramps, particularly in missile systems and space architectures, positioning it for sustained profitable growth and increased free cash flow through 2026 and beyond. Management emphasized its ability to deliver on schedule as a key differentiator for future opportunities.
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LHX operating KPIs by quarter
| KPI | This call Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Book-to-bill ratio | 1.5 ratioWe posted our highest organic growth in 6 quarters and achieved a record book-to-bill of 1.5, clear evidence of the momentum behind our strategy and the alignment of our portfolio with the future of warfare.Source: earnings call transcript | 1.2 ratioThis quarter, we delivered double-digit organic growth, 15.9% margins, and a book-to-bill of 1.2, proof that our strategy is working.Source: earnings call transcript | 1.4 ratioWe achieved a 1.4x book-to-bill, with awards in missionized aircraft, solid rocket motors and software-defined communication products.Source: earnings call transcript | 1.2 ratioOrders were $7.3 billion, yielding a book-to-bill of 1.2x.Source: earnings call transcript | -14.3% |
| Orders | — | $6.6BWe had $6.6 billion in orders this quarter, resulting in a book-to-bill of 1.2.Source: earnings call transcript | — | $7.3BOrders were $7.3 billion, yielding a book-to-bill of 1.2x.Source: earnings call transcript | — |
| Backlog | — | — | $40B+Our backlog has almost doubled to over $40 billion, and that does not yet include the $25 billion of orders for the Munitions Acceleration Council programs, which are currently in negotiations.Source: earnings call transcript | $42BBacklog increased by more than $1 billion to $42 billion, positioning us well for sustained growth.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.