L3Harris Technologies, Inc. (LHX) CEO Chris Kubasik on Q1 2022 Results - Earnings Call Transcript

L3Harris Technologies, Inc. (NYSE:LHX) Q1 2022 Earnings Conference Call April 29, 2022 8:30 AM ET

Company Participants

Rajeev Lalwani - VP of IR

Chris Kubasik - VC and CEO

Michelle Turner - CFO

Conference Call Participants

Robert Spingarn - Melius Research

Sheila Kahyaoglu - Jefferies

Robert Stallard - Vertical Research Partners

Gautam Khanna - Cowen and Company

Peter Arment - Baird

Doug Harned - Bernstein

Richard Safran - Seaport Research Partners

David Strauss - Barclays Bank

Michael Ciarmoli - Truist Securities

Operator

Greetings. Welcome to the L3Harris Technologies First Quarter Calendar Year 2022 Earnings Call. At this time, all participants are in listen-only mode. Today’s call will be focused on questions-and-answers following brief opening remarks. [Operator Instructions] As a reminder, this conference call is being recorded.

It is now my pleasure to introduce your host, Rajeev Lalwani, Vice President of Investor Relations. You may now begin.

Rajeev Lalwani

Thank you, Rob. Good morning, and welcome to our first quarter 2022 earnings call. On the call with me today are Chris Kubasik, our CEO; and Michelle Turner, our CFO.

First, a few words on forward-looking statements and non-GAAP measures. Forward-looking statements involve risks, assumptions and uncertainties that could cause actual results to differ materially. For more information, please see our investor letter and SEC filings. A reconciliation of non-GAAP financial measures to comparable GAAP measures is included in the Investor Relations section of our website, which is l3harris.com, where a replay of this call will also be available.

And as a reminder, at the start of the year, we began reporting our results in our realigned three-segment structure that shifts pension items to the corporate level.

With that, I'll turn it over to Chris for a few comments.

Chris Kubasik

Okay. Well, thank you, Rajeev, and good morning, everyone. As you saw, we released our results after the market closed yesterday in our new streamlined format. We're always looking at ways to improve and challenge the status quo. So instead of issuing a press release at 7:30 this morning, and have Michelle and I read prepared remarks, which were very similar to the press release and maybe with some added color, and then having you follow along with our web charts, which are just a graphic depiction of what we were going to say anyway. We thought we'd try something new and come out with what we're calling our investor letter and putting everything in one document.