Subtext

L3Harris Technologies, Inc. LHX

SectorIndustrials
Transcripts24
Date range2019-01-29 – 2025-04-24
Calls charted24

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-28-14+0+14+282019 Q22020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32019 Q2 · Overall: +14.52019 Q3 · Overall: +18.62019 Q4 · Overall: +14.62020 Q1 · Overall: +7.32020 Q2 · Overall: +12.82020 Q3 · Overall: +13.42020 Q4 · Overall: +9.12021 Q1 · Overall: +9.92021 Q2 · Overall: +8.52021 Q3 · Overall: +5.32021 Q4 · Overall: +4.42022 Q1 · Overall: +4.92022 Q2 · Overall: +2.92022 Q3 · Overall: +1.12022 Q4 · Overall: +6.12023 Q1 · Overall: +8.12023 Q2 · Overall: +7.62023 Q3 · Overall: +3.32023 Q4 · Overall: +9.72024 Q1 · Overall: -0.72024 Q2 · Overall: +12.92024 Q3 · Overall: +24.52024 Q4 · Overall: +16.62025 Q1 · Overall: +8.4
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-32-16+0+16+322019 Q22020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32019 Q2 · CEO: +20.22019 Q3 · CEO: +25.22019 Q4 · CEO: +18.12020 Q1 · CEO: +12.02020 Q2 · CEO: +12.62020 Q3 · CEO: +19.92020 Q4 · CEO: +17.62021 Q1 · CEO: +27.52021 Q2 · CEO: +16.92021 Q3 · CEO: +7.62021 Q4 · CEO: +6.62022 Q1 · CEO: +8.32022 Q2 · CEO: +8.82022 Q3 · CEO: +7.02022 Q4 · CEO: +11.92023 Q1 · CEO: +13.12023 Q2 · CEO: +12.32023 Q3 · CEO: +4.52023 Q4 · CEO: +12.12024 Q1 · CEO: +1.12024 Q2 · CEO: +20.32019 Q2 · CFO: +15.42019 Q3 · CFO: +13.72019 Q4 · CFO: +18.72020 Q1 · CFO: +7.32020 Q2 · CFO: +8.62020 Q3 · CFO: +11.22020 Q4 · CFO: +8.52021 Q1 · CFO: +12.12021 Q2 · CFO: +7.32021 Q3 · CFO: +7.82021 Q4 · CFO: +2.32022 Q1 · CFO: +7.42022 Q2 · CFO: -1.52022 Q3 · CFO: +0.02022 Q4 · CFO: +5.72023 Q1 · CFO: +10.12023 Q2 · CFO: +12.42023 Q3 · CFO: +9.32023 Q4 · CFO: +18.22024 Q1 · CFO: +5.82024 Q2 · CFO: +13.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-33-16+0+16+332019 Q22020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32019 Q2 · Prepared remarks: +18.82019 Q3 · Prepared remarks: +22.82019 Q4 · Prepared remarks: +19.32020 Q1 · Prepared remarks: +7.52020 Q2 · Prepared remarks: +9.92020 Q3 · Prepared remarks: +13.12020 Q4 · Prepared remarks: +10.22021 Q1 · Prepared remarks: +19.02021 Q2 · Prepared remarks: +11.72021 Q3 · Prepared remarks: +7.12021 Q4 · Prepared remarks: +7.32022 Q1 · Prepared remarks: -7.42022 Q2 · Prepared remarks: +0.02022 Q3 · Prepared remarks: +6.02022 Q4 · Prepared remarks: +13.02023 Q1 · Prepared remarks: +19.12023 Q2 · Prepared remarks: +1.82023 Q3 · Prepared remarks: +7.52023 Q4 · Prepared remarks: +23.22024 Q1 · Prepared remarks: +0.02024 Q2 · Prepared remarks: +16.32024 Q3 · Prepared remarks: +25.72024 Q4 · Prepared remarks: +28.32025 Q1 · Prepared remarks: +18.72019 Q2 · Q&A responses: +19.42019 Q3 · Q&A responses: +22.02019 Q4 · Q&A responses: +16.72020 Q1 · Q&A responses: +14.12020 Q2 · Q&A responses: +20.12020 Q3 · Q&A responses: +20.42020 Q4 · Q&A responses: +15.02021 Q1 · Q&A responses: +12.82021 Q2 · Q&A responses: +12.52021 Q3 · Q&A responses: +8.22021 Q4 · Q&A responses: +5.42022 Q1 · Q&A responses: +9.32022 Q2 · Q&A responses: +6.52022 Q3 · Q&A responses: +4.22022 Q4 · Q&A responses: +9.72023 Q1 · Q&A responses: +11.22023 Q2 · Q&A responses: +12.52023 Q3 · Q&A responses: +5.62023 Q4 · Q&A responses: +9.62024 Q1 · Q&A responses: +3.92024 Q2 · Q&A responses: +18.52024 Q3 · Q&A responses: +24.12024 Q4 · Q&A responses: +13.32025 Q1 · Q&A responses: +5.9
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$8.79$11.79$14.782019 Q22020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32019 Q2: $9.202019 Q3: $10.692019 Q4: $11.422020 Q1: $12.032020 Q2: $12.062020 Q3: $12.512020 Q4: $13.082021 Q1: $13.302021 Q2: $13.752021 Q3: $14.032021 Q4: $13.682022 Q1: $13.892022 Q2: $14.162022 Q3: $14.182022 Q4: $12.742023 Q1: $12.522023 Q2: $12.772023 Q3: $13.122023 Q4: $13.212024 Q1: $13.062024 Q2: $13.572024 Q3: $13.962024 Q4: $14.37

Forward P/E

12.2017.2322.252019 Q22020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32019 Q2: 21.562019 Q3: 20.082019 Q4: 17.312020 Q1: 13.972020 Q2: 15.872020 Q3: 14.562020 Q4: 14.232021 Q1: 14.432021 Q2: 16.142021 Q3: 16.302021 Q4: 15.572022 Q1: 17.532022 Q2: 16.012022 Q3: 16.502022 Q4: 17.112023 Q1: 16.032023 Q2: 14.952023 Q3: 12.892023 Q4: 15.752024 Q1: 16.512024 Q2: 16.392024 Q3: 16.452024 Q4: 14.85

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2019 Q4 tone ↓ -4.0 fwd EPS ↑ +0.73 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -7.3 fwd EPS ↑ +0.61 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q4 tone ↓ -4.4 fwd EPS ↑ +0.57 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -3.2 fwd EPS ↑ +0.28 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -2.0 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +5.0 fwd EPS ↓ -1.44 Tone rose while the forward EPS estimate was cut.
  • 2023 Q1 tone ↑ +2.0 fwd EPS ↓ -0.22 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -4.3 fwd EPS ↑ +0.36 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -7.8 fwd EPS ↑ +0.41 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-24+8.4——View →
2024 Q42025-01-30+16.6$14.3714.8View →
2024 Q32024-10-25+24.5$13.9616.4View →
2024 Q22024-07-26+12.9$13.5716.4View →
2024 Q12024-04-26-0.7$13.0616.5View →
2023 Q42024-01-26+9.7$13.2115.8View →
2023 Q32023-10-27+3.3$13.1212.9View →
2023 Q22023-07-27+7.6$12.7714.9View →