L3 Technologies, Inc. (NYSE:LLL) is a leading supplier of a broad range of products and services used in a number of aerospace and defense platforms. The company is focused on consolidating its operations through acquisitions to improve its competitiveness. A robust financial position allows the company to continue with its acquisitions and create shareholder value at the same time.
However, the company has been witnessing weak performance in some of its product lines. The most worrying aspect of this is the downward trend in margins for service-related work due to competitive pressure.
Coming to the earnings surprises history, L3 Technologies has reported positive earnings surprises in the last four quarters with an average beat of 10.46%.
Zacks Rank
Currently, L3 Technologies has a Zacks Rank #2 (Buy), but that could change following L3 Technologies’ second quarter 2017 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Beat
Our consensus called for second quarter EPS of $2.03, and the company reported EPS from continuing operations of $2.54.
Revenue Beat
The company posted revenues of $2.73 billion in second quarter, compared to our consensus estimate of $2.70 billion.
Key Developments to Note
The company reported 10.3% year over year increase in its funded orders in the second quarter to $2.36 billion. Funded backlog dropped 4% to $8.51 billion.
The company has raised its 2017 guidance. The company currently expects to generate earnings in the range of $8.65−$8.85 per share (versus its prior guided range of $8.50−$8.70 per share) on revenues of $10,800 −$11,000 million (versus its prior guided range of $10,750 −$10,950 billion) for 2017.
Stock Price: Following the earnings release, there was no significant change in L3 Technologies’ share price in the pre-market trading session.
L-3 Communications Holdings, Inc. Price and EPS Surprise
L-3 Communications Holdings, Inc. Price and EPS Surprise | L-3 Communications Holdings, Inc. Quote
Check back later for our full write up on this L3 Technologies earnings report later!
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