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LHX · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 8.4% y/y to $5.88B, operating margin 11.1% vs 10.5%, net income $586M (+27.9% y/y).
Net income available to common shareholders
$586M
up 27.9% y/y
Revenue
$5,881M
up 8.4% y/y
Operating income
$654M
up 14.5% y/y
- Revenue +8.4% — growth across all segments from new program starts and execution on record backlog
Source
«Revenue: Second quarter revenue increased $455 million, up 8%, driven by growth across all segments resulting from new program starts and strong execution against our record backlog.»
press release, 8-K - Operating income +14.5% — higher segment operating income, mainly at Communications & Spectrum Dominance, and lower corporate and other expense
Source
«The improvement in operating income was driven by an increase in segment operating income primarily at Communications & Spectrum Dominance and lower corporate and other expense.»
press release, 8-K
All figures in $M.
| Line item | Amount and change |
|---|---|
| Revenue | $5,881 · +8.4% |
| Cost of revenue | $4,379 · +7.0% |
| General and administrative expenses | $848 · +11.0% |
| Operating income | $654 · +14.5% · 11.1% margin |
| Non-service FAS pension income and other, net | $185 · +76.2% |
| Interest expense, net | $129 · −15.1% |
| Income before income taxes | $710 · +35.5% |
| Income tax expense | $110 · +66.7% · 15.5% effective rate |
| Subsidiary preferred stock deemed dividend | $14 · vs $0 |
| Net income available to common shareholders | $586 · +27.9% · $3.13/sh · 10.0% margin |
Verdict: revenue grew 8.4% y/y to $5.88B, operating margin 11.1% vs 10.5%, net income $586M (+27.9% y/y).
Operating cash flow was $879 million and free cash flow was $771 million, both up 37%.
Source and notation
Source: L3Harris Technologies press release, 8-K EX-99.1 of 07/29/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
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<figure> <a href="https://whoreportstoday.com/t/lhx/q2-2026"><img src="https://whoreportstoday.com/t/lhx/q2-2026/sankey.png" alt="LHX Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/lhx/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/lhx/q2-2026">LHX Q2 2026 earnings chart (Who Reports Today)</a>
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- Orders were $7.3 billion with a book-to-bill of 1.2x, lifting backlog to a record $42 billion.
- Operating income was $654M, a 11.1% margin vs 10.5% a year earlier.
- The effective tax rate was 15.5% vs 12.6% a year earlier.
- Diluted EPS was $3.13 vs $2.44 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
LHX — a defense technology company that supplies space, airborne, communications, sensor and propulsion systems to the U.S. government, prime contractors and allied nations; the U.S. government accounted for 75% of its fiscal 2025 revenue.
It reports four segments: Space & Airborne Systems, Integrated Mission Systems, Communication Systems and Aerojet Rocketdyne, which makes rocket motors and propulsion. · Source: annual report (Form 10-K, SEC)
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