L3Harris (LHX) Q2 2026: EPS Beats by 10.7%, Backlog Hits $42 Billion
As seen on the 24/7 Wall St. homepage on July 29, 2026.
L3Harris extended its five-quarter earnings beat streak with a 10.7% EPS surprise, as record $42 billion backlog and double-digit growth in Missile Solutions drove the defense contractor to raise full-year guidance on both revenue and profit.
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L3Harris Technologies reported Q2 2026 earnings per share of $3.13, clearing the consensus estimate of $2.83 by about 10.7% — the company's sixth consecutive quarter of beating Wall Street's EPS forecast. Revenue came in at $5.88 billion, edging past the $5.82 billion estimate by roughly 1%. The results were strong enough for management to raise its full-year guidance on both revenue and profit.
The standout driver was double-digit growth in Missile Solutions, a segment benefiting from sustained defense spending demand. The company's backlog reached a record $42 billion, a figure that signals sustained revenue visibility and gives management the confidence to lift annual targets. Looking back at the past two years of quarterly results, L3Harris has consistently delivered reported EPS above estimates, with the margin of outperformance widening notably in the most recent two quarters.
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The price reaction around the filing on July 29, 2026 showed shares moving from roughly $298 to briefly touch $301 before settling back near $297, suggesting investors largely absorbed the beat as expected given the run of prior strong quarters. The record backlog and raised guidance are the key metrics to watch heading into Q3 2026.