L3Harris (LHX) Q3 FY25 earnings call

Earnings call· Sep 2025 (Q3 FY25)· Industrials· Oct 30, 2025

Source: earnings call transcript

L3Harris delivered strong Q3 FY25 results, driven by double-digit organic growth and expanding margins, leading to increased full-year guidance. The company is strategically investing in missile defense and space capabilities, particularly through Aerojet Rocketdyne's record backlog and capacity expansion. Despite headwinds from the government shutdown, management remains confident in its strategy and ability to execute, emphasizing the need for multi-year contracts to formalize demand and enable further industrial investment.

You’re reading a preview. Opening the full call uses 1 concall credit.

LHX operating KPIs by quarter

LHX operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Jun 2025 Q2 FY25	This call Sep 2025 Q3 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Book-to-bill ratio	1.5 ratio We 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 ratio This 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 ratio We 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 ratio Orders were $7.3 billion, yielding a book-to-bill of 1.2x. Source: earnings call transcript	-14.3%
Orders	—	$6.6B We had $6.6 billion in orders this quarter, resulting in a book-to-bill of 1.2. Source: earnings call transcript	—	$7.3B Orders 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	$42B Backlog 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.