Valued at roughly $47.4 billion by market cap, L3Harris Technologies, Inc. (LHX) is reshaping the defense landscape with advanced, end-to-end solutions that link space, air, land, sea, and cyber operations, all designed with mission-critical needs at the forefront of national security. The company is set to lift the curtains on its fiscal 2025 second-quarter earnings results before the market opens on July 24. 

Ahead of this event, analysts project LHX to report a profit of $2.48 per share, down a notable 23.5% from $3.24 per share reported in the year-ago quarter. While this projection may raise concerns, it's also important to acknowledge that the company has built a solid track record of consistency, having outpaced Wall Street’s bottom-line estimates for four straight quarters.

For the full fiscal year 2025, analysts forecast L3Harris to report an EPS of $10.45, marking a 20.2% decline from the $13.10 reported in fiscal 2024. However, the dip may be short-lived. Forecasts for fiscal 2026 point to a strong comeback, with EPS expected to rise 16.3% to $12.15, suggesting brighter days could be ahead.

Shares of LHX have gained nearly 13.9% over the past 52 weeks, mirroring the broader S&P 500 Index's ($SPX) 13.4% uptick during the same stretch. But zooming in further, the stock appears to be lagging behind the Industrial Select Sector SPDR Fund’s (XLI) 23% returns during the same time frame.

L3Harris kicked off fiscal 2025 with a mixed Q1 earnings report on April 24. While the company beat Wall Street’s earnings expectations, delivering a 7% year-over-year jump in adjusted EPS to $2.41, about 3.9% above estimates, investors weren’t impressed. The stock barely moved, weighed down by disappointing top-line results. Revenue slipped 2% annually to $5.1 billion, falling short of analysts' $5.2 billion target and signaling softer demand despite strong profit growth.

Nevertheless, analysts' consensus view on LHX remains bullish, with a "Strong Buy" rating overall. Among 20 analysts covering the stock, 15 suggest a "Strong Buy," and five give a “Hold” rating. Its mean price target of $262.50 represents a 2.7% premium to current price levels.