# L3Harris Raises 2026 Guidance on Record $42B Backlog as TD Cowen Trims Price Target

- URL: https://stocks.freetheai.org/news/l3harris-raises-2026-guidance-on-record-42b-backlog-as-td-cowen-trims-price-7b1d55
- Published: 2026-10-12T11:00:00Z
- Category: earnings; sentiment: mixed; impact: medium
- Symbols: [NYSE:LHX](https://stocks.freetheai.org/symbols/NYSE-LHX)
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L3Harris Technologies Inc (NYSE:LHX) delivered strong second-quarter performance, generating $5.9 billion in revenue, an 8% increase compared to the same period last year. The defense contractor secured $7.3 billion in orders during the quarter, lifting its total backlog to a record $42 billion. On the back of these operational results, management increased full-year 2026 guidance for both revenue and adjusted earnings per share.

The expanding order book highlights continued demand for defense and technology contracts, providing long-term revenue visibility. However, market sentiment remains nuanced as TD Cowen lowered its price target on the stock from $370 to $280 ahead of broader sector earnings, even while preserving a Buy rating. Shares of L3Harris Technologies Inc were last trading near $237, virtually unchanged on the day.

Investors will monitor whether the company can maintain its order momentum and convert its historic backlog into projected earnings growth amidst broader defense sector trends.

## Key points

- L3Harris Technologies Inc (NYSE:LHX) reported second-quarter revenue of $5.9 billion, an 8% year-over-year increase.
- The company booked $7.3 billion in new orders, expanding its backlog to a record $42 billion.
- Management raised its full-year 2026 guidance for revenue and adjusted earnings per share.
- TD Cowen lowered its price target on the stock from $370 to $280 while keeping a Buy rating.

## Questions and answers

### What were L3Harris Technologies second-quarter revenue and orders?

L3Harris Technologies reported Q2 revenue of $5.9 billion, up 8% year-over-year, and booked $7.3 billion in new orders.

### What is the current backlog for L3Harris Technologies?

The company reached a record backlog of $42 billion following strong order intake in the second quarter.

### Why did L3Harris raise its 2026 financial guidance?

L3Harris raised its full-year 2026 revenue and adjusted EPS guidance due to stronger second-quarter sales and a record $42 billion backlog.