Now what: Management now sees full-year 2016 revenue of $7.6 billion to $7.68 billion, down from its prior view of $7.67 billion to $7.83 billion. "We've made excellent progress in both achieving anticipated synergy savings and identifying additional opportunities," said Chairman, President, and CEO William M. Brown. "As a result, we now expect to exit fiscal 2017 with annual run-rate savings in a range of $140 to $150 million, significantly higher than our previous expectation of about $120 million." Given Harris' seemingly significant revenue headwinds and still-lofty 20-plus P/E, however, I'd hold out for an even wider margin of safety before buying into that bullishness.
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L3Harris Technologies, Inc.
The communications technologist seems to be facing some top-line trouble.
Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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