Safe to assume L3Harris products used at some level in Venezuela, says CFO

Summary

Ken Bedingfield, CFO of L3Harris Technologies, discusses the company's agreement to sell a majority stake in its Space, Propulsion and Power business to HP Industrial, retain 40%, and revitalize the Rocketdyne name. He explains the deal supports L3Harris's focus on national security by freeing cash to expand missile production, especially solid rocket motors and electronics, for the Department of War and allies. Bedingfield also discusses the broader defense budget environment, deconsolidation, and L3Harris's role in U.S. military missions, noting the stock hit an all-time high.

• L3Harris announced sale of a majority stake in Space, Propulsion and Power to HP Industrial, retaining 40%.
• The business will operate as standalone Rocketdyne, with the partner expected to invest in growth.
• L3Harris plans to use proceeds to expand missile production capacity, including solid rocket motors.
• The company is working with defense primes and the Department of War to accelerate critical programs.
• Management sees the deal as creating more competition in aerospace and defense.
• L3Harris says its products are likely embedded in major U.S. military missions.
• Defense budgets and geopolitical uncertainty remain key context for the sector.