L3Harris falls after cutting 2025 earnings forecasts

U.S. defense contractor L3Harris Technologies LHX.N shares fall 2% to $212 premarket trading

Co cuts annual earnings forecasts after missing quarterly sales expectations, hurt by decreased volumes in its space unit and the divestment of its aviation solutions business

Florida-based co expects an adj. profit of between $10.30 and $10.50/share in 2025, lower than its previous forecast of $10.55 to $10.85/share

LHX posts Q1 adj. EPS of $2.41, compared with expectations of $2.32, according to data compiled by LSEG

Co reports Q1 total revenue of $5.13 bln, lower than estimate of about $5.22 bln

18 of 24 brokerages rate the stock "buy" or higher, 6 "hold"; their median PT is $253

As of last close, stock had risen 2.9% YTD