L3Harris Q3 2026: Record $53.2B Backlog and a Sixth Straight EPS Beat
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Backlog hit a record $53.2 billion, lifted by the $6.3 billion THAAD propulsion award. Management raised full-year GAAP EPS guidance to $12.25 to $12.35, and the sixth straight beat shows the missile defense surge already landing in results.
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L3Harris posted GAAP diluted EPS of $3.28 for Q3 2026, exceeding expectations for the sixth consecutive quarter, with revenue rising 7.1% year over year and operating margin expanding to 13.0%.
Backlog reached a record $53.2 billion, with Missile Solutions anchored by a seven-year undefinitized contract to scale THAAD propulsion production. A large portion of that demand is already queued for coming quarters.
Free cash flow rose 195% year over year to $1.26 billion on receivables collections and contract liabilities, with lower interest expense and a lower effective tax rate adding to the bottom line.
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Management raised full-year GAAP EPS guidance to a range of $12.25 to $12.35 and lifted the revenue guidance floor, while free cash flow and operating cash flow guidance were left unchanged.
Capital expenditures of $179 million in the quarter, up 50% year over year, fund production capacity across missiles, space, resilient communications, and multi-domain sensing. The new solid rocket motor facility in Camden, Arkansas is one of roughly 60 sites being built, showing the THAAD and PAC-3 order surge is backed by infrastructure commitments.