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| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $17,814 | $17,062 | $19,419 | N/A | $21,325 |
| Gross Profit | $5,376 | $4,927 | $5,113 | N/A | $5,524 |
| Operating Income | $3,342 | $1,826 | $1,426 | N/A | $1,918 |
| Net Income | $1,846 | $1,062 | $1,227 | N/A | $1,502 |
Over the period from 2021 to 2025, L3Harris Technologies experienced a mixed financial performance with notable volatility in its key metrics. In 2021, the company reported solid figures with revenue at $17,814 million, a gross profit of $5,376 million, operating income of $3,342 million, and net income of $1,846 million. However, in 2022 there was a modest revenue decline of about 4.5% to $17,062 million, yet the decline in operating income was markedly steeper—falling nearly 45%—with net income decreasing by over 42%. This sharp contraction in operating and net income could indicate rising costs or margin pressures during that year, suggesting the company faced operational challenges or unfavorable market conditions. The recovery appears more pronounced in subsequent years. In 2023, revenue rebounded by roughly 14% to $19,419 million, while gross profit inched up to $5,113 million. Notably, even though operating income dipped by approximately 22% compared to 2022, net income increased by nearly 16%, hinting at improved efficiency at the bottom line. The missing data for 2024 interrupts the trend, but by 2025 the company not only recovered but improved its performance significantly: revenue increased to $21,325 million, gross profit rose to $5,524 million, operating income surged by over 34% to $1,918 million, and net income climbed by more than 22% to $1,502 million. Overall, despite the earlier setbacks, L3Harris demonstrated resilience and a capacity to adjust operational strategies effectively. The financial trajectory leading to 2025 suggests an improving balance between revenue expansion and profitability, underscoring a sustainable and robust financial health within its competitive industry.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.