AUS
NZ
UK
CA
USA
IND
Highlights
- L3Harris Technologies, Inc’s (NYSE:LHX) revenue fell 5% YoY in Q3, FY21.
- L3Harris expects its revenue to be US$17.9 billion in fiscal 2021.
- Aon plc’s (NYSE:AON) total revenue increased by 13% YoY in Q3, FY21.
Stocks of L3Harris Technologies, Inc. (NYSE:LHX) and Aon plc (NYSE:AON) were trending on Wall Street Friday after reporting their quarterly financial results before the opening bell. The former was down more than 1%, while the latter traded flat in pre-market trading.
The LHX stock was priced at US$220.10, down 1.75%, while the AON stock traded flat at US$321.08 at around 8:30 am ET, compared to their closing prices on October 28.
Quarterly Financial Highlights:
Also Read: Amazon.com, Inc.’s (AMZN) net income falls, sales jump 15% in Q3
L3Harris Technologies, Inc. (NYSE:LHX)
L3Harris is a defense contractor based in Melbourne, Florida, and provides various products and services for defense and commercial applications.
The company's revenue declined 5% YoY to US$4.22 billion in Q3, FY21, compared to US$4.46 billion in the same quarter of the previous year. Its net income came in at US$479 million, up 11% from US$430 million in Q3, FY20. The company reported earnings of US$2.39 per share, compared to US$1.99 per share in the year-ago quarter.
Also Read: Yum! (YUM) beats profit estimates, Hershey (HSY) raises guidance
On a non-GAAP basis, its organic revenue tumbled 1% to US$4.22 billion, while its EPS came in at US$3.21, up 13% YoY, in Q3, FY21.
The company has lowered its annual revenue forecast to US$17.9 billion from its earlier projection range of US$18.1 billion to US$18.5 billion. However, it has raised its lower-end guidance for non-GAAP EPS to US$12.85, from its previous forecast of US$12.80.
It has a market cap of US$45.01 billion, a P/E ratio of 31.33, and a forward P/E one year of 17.21. Its EPS is US$7.15. The 52-week highest and lowest stock prices were US$246.08 and US$158.09, respectively. Its trading volume was 2,145,651 on October 28.
Also Read: Caterpillar (CAT), Illinois (ITW) report solid revenue growth in Q3
Also Read: Linde (LIN) lifts guidance, Comcast (CMCSA) beats profit expectations
Aon plc (NYSE:AON)
Aon plc is an insurance service provider based in London, UK. It offers various financial services like risk-mitigation products, insurances, and other related services.
The total revenue surged 13% YoY to US$2.7 billion in Q3, FY21. It reported an operating loss of US$801 million, compared to an income of US$441 million in the previous year's third quarter.
The net loss of Aon came in at US$891 million, compared to an income of US$282 million in Q3, FY20. Its net diluted loss attributable to common shareholders came in at US$3.99 per share, against an income of US$1.18 per diluted share in the year-ago quarter.
Also Read: Northrop (NOC) ekes out US$1.1 bn profit but misses revenue estimates
Meanwhile, its adjusted earnings came in at US$395 million, or US$1.70 per share in Q3, FY21.
Its market cap is US$72.48 billion, the P/E ratio is 35.24, and the forward P/E one year is 27.58. Its EPS is US$9.11. The stock saw the highest price of US$322.45 and the lowest price of US$179.52 in the last 52 weeks. Its share volume on October 28 was 1,905,785.
Also Read: Merck (MRK), Sanofi (SNY) raise profit guidance after solid Q3 results
Bottomline
Both the stocks witnessed significant gains in recent quarters. The LHX stock rose 24.16% YTD, while the AON stock jumped 56.97% YTD. However, investors should evaluate the companies carefully before considering an investment in the stock market.
