L3Harris Technologies (NYSE:LHX) shares gained around 8% on Friday after the company reported its Q4 results, with EPS of $3.27 coming in better than the Street estimate of $3.26. Revenue was $4.58 billion, beating the Street estimate of $4.34 billion.
The quarterly results reflected continued improvement in the supply chain and other cost pressures. Moreover, the company posted 7% growth in its SAS segment, and 17% growth in its CS segment, with CS margins increasing to 24.9%.
The company provided its fiscal 2023 outlook, expecting EPS to be in the range of $12.00-$12.50, compared to the Street estimate of $12.40. Full-year revenue is expected in the range of $17.4-17.8 billion, compared to the Street estimate of $17.607 billion.
L3Harris Technologies Shares Surge 8 percent on Q4 Beat