Key facts
- L3Harris Technologies exceeded second-quarter revenue estimates, driven by strong demand for weapons and military technology.
- Vulcan Materials beat second-quarter profit expectations, reporting $2.16 billion in revenue and $2.59 in adjusted earnings per share.
- L3Harris' missile solutions segment revenue increased by 14%, and total revenue rose 8.4% year-over-year.
- Vulcan Materials' revenue grew 3% year-over-year, with aggregates shipments up 1%, despite weather impacts.
- L3Harris revised its 2026 sales forecast upward but the midpoint remains below analyst expectations.
Defense supplier L3Harris Technologies surpassed Wall Street's revenue expectations for the second quarter, benefiting from heightened demand for weapons and military technology. The company reported total revenue of $5.88 billion, an 8.4% increase from the previous year, exceeding analysts' estimates of $5.81 billion. L3Harris' missile solutions segment, which produces propulsion systems and hypersonic weapons, saw a 14% revenue increase. Quarterly profit rose to $3.13 per share from $2.44 a year ago. The company also raised its 2026 sales forecast to a range of $23.2 billion to $23.7 billion, though the midpoint fell short of analyst expectations. Shares experienced a slight decline in after-hours trading.
In a separate development, Vulcan Materials also exceeded second-quarter profit expectations. The construction materials company reported revenue of $2.16 billion, a 3% year-over-year increase and above the $2.12 billion average analyst estimate. Adjusted profit per share was $2.59, up from $2.45 in the prior year. Vulcan Materials saw a 1% rise in aggregates shipments, though heavy rainfall in some regions impacted volumes. The company reiterated its full-year adjusted EBITDA forecast and noted an active pipeline for strategic acquisitions.