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 10.38%.
Zacks Rank
Currently, L3 Technologies has a Zacks Rank #3 (Hold), but that could change following L3 Technologies’ first quarter 2019 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 $2.52, and the company reported adjusted EPS from continuing operations of $2.89.
Revenue Beat
The company posted revenues of $2.70 billion in first quarter, compared to our consensus estimate of $2.52 billion.
Key Developments to Note
Funded orders in the first quarter totaled $3.38 billion, reflecting a 28% surge from the year-ago quarter. Operating margin expanded 90 basis points (bps) to 11.5% in the reported quarter.
L3 Technologies now expects to generate net sales of $10.90 billion in 2019, compared to earlier outlook of $10.75 billion.
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!
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L3 Technologies Inc. (LLL): Free Stock Analysis Report
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