LHX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-29

• Both the House and Senate have released GFY 2027 National Defense Authorization Act markups that authorize $1.1 trillion for the DoW base budget. Given the election cycle, the GFY 2027 appropriations cycle is delayed and the U.S. Government began operating on a continuing resolution on October 1, 20…

• Divestiture. On August 3, 2026, we completed the sale of our Space Technology disposal group, which was reported in our Missile Solutions segment through the date of divestiture. See Note O: Divestitures in the Notes for further information.

• Third quarter 2026 and 2025 include thirteen weeks and fourteen weeks, respectively, while year to date 2026 and 2025 both include thirty-nine weeks. Outcomes for specific periods, or year-over-year comparisons of results of operations and segment performance should be considered in this context.

• Third Quarter Comparison. Revenue increased $401 million, or 7%, reflecting higher revenues across all segments, primarily from higher volumes and a milestone related to material procurement in support of classified contracts, partially offset by lower revenue of $103 million from the Space Technolo…

• Included in gross margin are the following net EAC adjustments, by segment, for the periods presented:

Text removed vs the prior filing · source: 10-Q · 2026-07-30

• Both the House and Senate have released GFY 2027 National Defense Authorization Act (“NDAA”) markups that authorize $1.1 trillion for the DoW base budget. Given the election cycle, we expect the GFY 2027 appropriations cycle to be delayed and that the U.S. Government will begin operating on a contin…

• Second quarter 2026 and 2025 both include thirteen weeks, while year to date 2026 and 2025 include twenty-six and twenty-five weeks, respectively. Outcomes for specific periods, or year-over-year comparisons of results of operations and segment performance should be considered in this context.

• Non-service FAS pension income and other, net185 105 258 189

• Year to Date Comparison. Revenue increased $1,067 million, or 10% reflecting higher revenues across all segments, primarily from higher volumes, driven by new program ramps, including a milestone related to material procurement in support of classified contracts, and increased international deliveri…

• Second Quarter Comparison. G&A expenses increased $84 million, or 11%, primarily due to the absence of a $75 million and $17 million gain recognized in connection with the sale of assets from a product line in second quarter 2025 in our Space and Mission Systems and Communications and Spectrum Domin…

Text added vs the prior filing · source: 10-Q · 2026-10-29

• Our multi-year capacity expansion in our Missile Solutions segment involves substantial capital commitments and is reliant on our multi-year procurement contracts. In response to the Munitions Acceleration Council (“MAC”) framework initiatives and increased demand, we are executing a multi-year capa…

• These large-scale facility build-outs and advanced manufacturing expansions are subject to complex execution and commissioning risks, including: delays in permitting, site preparation, engineering, and construction; extended lead times, delivery delays, or integration challenges for specialized tool…

• While we have agreed to multi-year contracts for minimum production volumes for priority MAC missile programs, these contracts require sustained government appropriations across the multi-year performance periods. Although cancellation fees under these multi-year contracts are designed to cover faci…

• Additionally, achieving target production rates requires rapidly scaling our specialized workforce at these expansion sites, including engineering, assembly, quality assurance, and Environmental, Health and Safety personnel with active security clearances. Bottlenecks in recruitment, training, or go…

• Our long-term funding and production volumes could also be adversely affected by proposed legislative initiatives, including second-source mandates for certain of our missile products and subsystems for which we are the sole supplier. If enacted into law or implemented into DoW procurement strategy,…

Text added vs the prior filing · source: 10-Q · 2026-10-29

• Securities Trading Plans of Directors and Executive Officers

• We require all executive officers and directors to effect purchase and sale transactions in L3Harris securities pursuant to a trading plan (each, a “10b5-1 Plan”) intended to satisfy the requirements of Rule 10b5-1 under the Exchange Act (“Rule 10b5-1”). We limit executive officers to a single 10b5-…

• On August 16, 2026, Christopher Kubasik, the Company’s former Chairman and CEO, terminated his February 4, 2026 10b5-1 Plan, which provided for the sale of 189,501 shares.

• Other than as disclosed above, during third quarter 2026, none of the Company’s directors or officers adopted, modified or terminated any 10b5-1 Plan.

• On October 23, 2026, upon the recommendation of the compensation committee (the “Committee”) of the Board, the Board amended each of the Company’s Annual Incentive Plan (the “AIP”) and the Company’s Severance Pay Plan (the “Severance Plan”).

Text removed vs the prior filing · source: 10-Q · 2026-07-30

• None of our directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement or adopted or terminated a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during second quarter 2026.