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L-3 Communications (LLL) Beats on Q1 Earnings & Revenues

L-3 Communications Holdings Inc. LLL is a leading supplier of a broad range of products and services used in a number of aerospace and defense platforms. A robust financial position allows the company to continue with its acquisitions and create shareholder value at the same time.

However, the company has been witnessing weak performance in some of its product lines. The most worrying aspect of this is the downward trend in margins for service-related work due to competitive pressure.

Coming to the earnings surprises history, L-3 Communications has reported positive earnings surprises in two out of the last four quarters with an average beat of negative 0.38%.

Zacks Rank

Currently, L-3 Communications has a Zacks Rank #4 (Sell), but that could definitely change following L-3 Communications’ earnings report which was just released. We have mentioned below some of the vital information from this just-revealed announcement:

Earnings Beat

Our consensus called for first quarter EPS of $1.57, and the company reported adjusted EPS of $2.08.

Revenue Beat

The company posted revenues of $2,353 million in first quarter, compared to our consensus estimate of $2,339 million.

Key Developments to Note

Funded orders in the first quarter of 2016 remained almost flat year over year. The funded orders for the reported quarter were $2.6 billion.

The company now expects its adjusted earnings guidance to the range of $7.55−$7.75 per share (versus its prior guided range of $7.40-$7.60 per share) with revenues of $9,950−$10,150 million for the year.

Check back later for our full write up on this L-3 Communications earnings report later!

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