L3Harris Technologies Inc

**Strong Financial Performance**: L3Harris Technologies reported an 8% increase in consolidated revenue year-over-year for Q3 2024, reaching approximately $5.4 billion. The operating margins improved to 15.7%, a 70 basis point increase, driven by program execution and operational improvements, particularly from their LHX NeXt initiative.

**Record Backlog and Order Volume**: The company achieved record order volume, generating new awards totaling over $7 billion in the quarter, leading to a book-to-bill ratio of 1.4. Their total backlog has now reached an unprecedented $34 billion, positioning the company well for future revenue growth despite potential budgetary pressures in the space and defense sectors.

**Cost-Saving Initiatives Ahead of Schedule**: L3Harris is ahead of its target for $1 billion in cost savings, expecting to achieve at least $600 million by the end of 2024, with potential to exceed this target. These savings are crucial in supporting higher margin targets, with a long-term aspiration to achieve a segment operating margin of at least 16% by 2026.