L3Harris Technologies, Inc. (NYSE:LHX) Q1 2024 Earnings Conference Call April 26, 2024 8:30 AM ET
Company Participants
Mark Kratz - Vice President of Investor Relations
Christopher Kubasik - Chair and Chief Executive Officer
Kenneth Bedingfield - Senior Vice President and Chief Financial Officer
Conference Call Participants
Noah Poponak - Goldman Sachs
Pete Skibitski - Alembic Global
Kristine Liwag - Morgan Stanley
Gavin Parsons - UBS
Peter Arment - Baird
Jason Gursky - Citigroup
Kenneth Herbert - RBC Capital Markets
Gautam Khanna - TD Cowen
Richard Safran - Seaport Research Partners
David Strauss - Barclays
Matthew Akers - Wells Fargo
Sheila Kahyaoglu - Jefferies
Douglas Harned - Bernstein
Operator
Greetings. Welcome to the L3Harris Technologies First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the opening remarks. [Operator Instructions] As a reminder, this conference call is being recorded.
It is now my pleasure to introduce your host, Mark Kratz, Vice President of Investor Relations. You may now begin Mr. Kratz.
Mark Kratz
Thank you, Rob. Good morning, and welcome to our First Quarter 2024 Earnings Call. Joining me this morning are Chris Kubasik, our CEO; and Ken Bedingfield, our CFO. Yesterday we published our first quarter earnings release detailing our financial results and guidance. We also provided a supplemental earnings presentation on our website.
As a reminder, today's discussion will include certain matters that constitute forward-looking statements. These statements involve risks, assumptions and uncertainties that could cause actual results to differ materially. For more information, please reference our earnings release and our SEC filings. We will also discuss non-GAAP financial measures which are reconciled to GAAP measures in the earnings release.
I'd now like to turn it over to Chris.
Christopher Kubasik
Hey, thanks, Mark, and good morning, everyone. Since the merger of L3 and Harris five years ago and after strategic acquisitions and targeted divestitures, we have built a company with a national security focus.
We have critical technologies in all domains that align to national security priorities and the global threat environment. Responsive space, resilient communications, and rocket motors are critical for the future fight. The trusted disruptor strategy and our portfolio are setting the stage for L3Harris to differentiate ourselves with top line growth, while simultaneously increasing our industry-leading margins.
The global security environment continues to be one with heightened tensions and regional conflict. Domestically, Congress recently passed the 2024 appropriations bills, which included $844 billion for defense. Our programs are well-funded and we are positioned for profitable growth across much of the enterprise. Demand remains strong for our products and solutions as we started off the year with a 1.06 book-to-bill ratio.