Defense contractor L3Harris raises 2025 outlook on steady demand

July 24 (Reuters) - U.S. defense contractor L3Harris Technologies LHX.N raised its annual forecast and beat Wall Street expectations for second-quarter results on Thursday, driven by resilient demand amid rising geopolitical tensions.

Shares of the company rose 2% in premarket trading.

Demand for arms and military equipment has ballooned in the face of a protracted Russia-Ukraine war and tensions in the Middle East, boosting sales at L3Harris and rivals.

The company, which makes solid rocket motors on the anti-tank Javelin missile system, expects about $21.75 billion in annual revenue, up from its prior forecast of between $21.4 billion and $21.7 billion.

It projected an adjusted profit of between $10.40 and $10.60 per share for the year, up from its previous expectation of $10.30 and $10.50.

The company's adjusted profit of $2.78 per share in the second quarter topped expectation of $2.50, according to data compiled by LSEG.

The defense contractor posted a revenue increase of 2.4% to $5.43 billion, beating estimates of $5.32 billion.