Four months out from the megamerger to create it, L3Harris Technologies sounds like it has made some decisions on which businesses to keep and those it will not.
During L3Harris’ third quarter earnings call Wednesday, CEO Bill Brown told investors the defense company has “begun marketing several businesses that we’ve assessed as non-core.”
Brown said it is an ongoing process and did not divulge much more than that, other than to say the “plan is to announce transactions as they occur and use the net proceeds to repurchase shares to offset dilution.”
Those potential sales, Brown told analysts, are part of L3Harris' work on "reshaping our portfolio to focus on high margin, high growth technology differentiated businesses where we can win and generate attractive returns."