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L3Harris quarterly revenue misses estimates on government shutdown pressures
['Thu', 'January', 'At P.M. Gmt', 'Min Read']
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Jan 29 (Reuters) - Defense contractor L3Harris Technologies missed Wall Street estimates for fourth-quarter revenue on Thursday, as a prolonged U.S. government shutdown delayed contract awards.
The shutdown, the longest in the country's history, lasted 43 days and ended in November, disrupted procurement activity for the military and hurt defense suppliers like L3Harris.
The company took a hit in its space systems business, which was also bogged down by lower volumes in its classified intel and cyber program.
L3Harris' total revenue for the fourth quarter came in at $5.65 billion, up only 2% from a year earlier and lower than Wall Street estimates of $5.78 billion, as per LSEG-compiled data.
It forecast 2026 revenue between $23 billion and $23.5 billion, roughly in line with analysts' expectations of $23.33 billion.