Leading defense contractor, L3HARRIS Technologies Inc. LHX says it is fully prepared to meet President’s requirements Donald Trump’s “Golden Dome” Missile Defense Initiative.
View the current price of LHX shares here.
What happened: During the profit call of the second quarter on Thursday, the CEO of the company, Christopher Kubasiksaid: “We are preparing to use a complete constellation of 40 to 45 proven HPTSS -Satellites in time,” referring to hypersonic ballistic tracking space -Sensor satellites, an important part of the Golden Dome Missile Defense System.
Kubasik called the effort ‘one of the most consistent Homeland Security Initiatives in our history’, referring to the $ 175 billion plan set out by Trump in May.
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He says that the ability of the company to detect hypersonic threats will be crucial for the development and operation of the rocket weather system.
L3HARRIS said that Golden Dome-related satellite work will contribute to the income from 2026 and noted that the land-based production efforts also scales. “We quickly scale a solid rocket motor production to meet the urgent demand of the country,” said Kubasik. “I have entered into a commitment … to increase capacity and to accelerate deliveries, and I intend to keep it.”
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Why it matters: Earlier this week, Lockheed Martin Corp. LMT said it held conversations with the government about the architecture of the proposed missile weather system. However, the company emphasized that there were no contracts or bid proposals yet.
L3HARRIS published his profit in the second quarter on Thursday and reported $ 5.43 billion in income, prior to consensus estimates at $ 5.32 billion. The profit during the quarter was $ 2.78 per share, so that the estimates of analysts of $ 2.49 per share were again defeated.
Price promotion: Shares of L3HARRIS rose by 1.34% on Thursday, traded at $ 273.22 and are still 0.65% higher after hours.
According to Benzinga’s Edge Stock RankingsL3HARRIS shares score high at Momentum and Quality, and have a favorable price trend in the short, medium and long term. Click Here for deeper insights in stock, are colleagues and competitors.
Photo Thanks to: Piotr Swat on Shutterstock.com
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