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 6.61%.
Zacks Rank
Currently, L3 Technologies has a Zacks Rank #3 (Hold), but that could change following L3 Technologies’ first quarter 2018 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 first quarter EPS of $1.99, and the company reported EPS from continuing operations of $2.34.
Revenue Beat
The company posted revenues of $2.37 billion in first quarter, compared to our consensus estimate of $2.33 billion.
L3 Technologies Inc. Price and EPS Surprise
L3 Technologies Inc. Price and EPS Surprise | L3 Technologies Inc. Quote
Key Developments to Note
The company reported 10% year over year increase in its funded orders in the first quarter to $2.6 billion. Funded backlog grew 3% to $8.8 billion at the end of the reported quarter.
The company raised its 2018 earnings guidance. The company currently expects to generate earnings in the range of $9.40−$9.60 per share (versus its prior guided range of $9.30−$9.50 per share). However top line guidance remained same at the range of $9,850 −$10,500 million for 2018.
Stock Price: Following the earnings release, there was no significant change in L3 Technologies’ share price in the pre-market trading session.
Check back later for our full write up on this L3 Technologies earnings report later!
Wall Street’s Next Amazon (NASDAQ:AMZN)
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
L3 Technologies Inc. (LLL): Free Stock Analysis Report
Original post