Harris Corporation HRS, based in Melbourne, FL, leading supplier of communications equipment and services. The company has brought about a transformation pertaining to communications and information technology.
The company has a healthy track record with respect to earnings. The company has delivered positive earnings surprises in three of the last four quarters, with an average beat of 2.9%.
Zacks Rank: Currently, Harris Corporation has a Zacks Rank #2 (Buy) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Harris Corporation’s earnings of $1.38 per share in the first quarter of fiscal 2018 beat the Zacks Consensus Estimate of $1.35. Earnings however declined 0.7% on a year over year basis.
Revenue: Revenues in the first quarter came in at $1,413 million lagging the Zacks Consensus Estimate of $1,424.8 million.
Harris Corporation Price and EPS Surprise
Harris Corporation Price and EPS Surprise | Harris Corporation Quote
Key Stats: The company’s projections for fiscal 2018 remain unchanged. It still expects earnings per share (on an adjusted basis) in fiscal 2018 in the band of $5.85 to $6.05 per share. The Zacks Consensus Estimate for fiscal 2018 currently stands at $5.98 per share. The company expects fiscal 2018 revenues in the range of $6.02 – 6.14 billion, up 2-4% year-over-year. The Zacks Consensus Estimate currently stands at $6.08 billion for fiscal 2018. The company expects free cash flow for fiscal 2018 in the band of $850 – 900 million.
Check back later for our full write up on this Harris Corporation earnings report later!
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