stock just tanked again on missed expectations.
cash, revenue, and profit are all down but hey Earnings Per Share (EPS) is up so the layoffs worked, we gave more money to the shareholders.
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I spent over a quarter century at the great beige building in New jersey. I can tell you that in spite of 1 million square feet and a constant presence of exterminators, I was never more than two feet from a two-legged rat. I haven't been there in years but I hope to be able to visit on the day of the bulldozers tear it down.
Honestly, probably not most. There are unique key personnel that know how everything works; but chances are L3's way of thinking is they can replace most of the floor staff despite their wealth of experience and knowledge. As a previous poster mentioned, they have been actively wanting to close Clifton and move everything down to Florida. This was in the works for EW in Amityville too but the Eng. team brought in acknowledged there was no way to replicate. Good luck to all of you
If Clifton closes, would they offer most employees transfer options to different facilities to continue supporting the work at a new location?
"Not sure why the stock dropped so much today, overall the 2Q numbers don't look that bad... unless Wall Street is taking a closer look and not liking what they find.
Let's see what happens next week, maybe investors will snap up LHX at bargain prices... or will the rout continue?"
Seriously? L3 has a almost non existent growth yet they trade at a PE multiple of ~40, if you work in this place you know there is no "growth", historically it came from acquisitions rather than organic. They just spend $5B on AJR and what has the return been so far on that? They cant spin off the junk because they want too much and other people know it is garbage, not complicated.
The great beige building in New Jersey is over 75 years old and is in a constant state of repairs. The roof leaks, the plumbing is terrible and the band aids are just not working any more. 1 million dollar a year property taxes and a real estate property value of over 25 million dollars. Dwindling work and an exodus of talent coupled with unsurmountable quality issues. Closing the aging facility is being actively discussed in Florida. Probably by the end of 2025.
“What are your sources for the great beige building closing in April?”
Maybe HR…probably BS…maybe nj tax breaks for this facility aren’t enough and other facilities out west will be way cheaper…maybe certain programs/contracts that have to be in nj are over…maybe it’s Melbourne maybe it’s Maybelline.
What are your sources for the great beige building closing in April?
Maybe the smart analysts are paying attention to what we’re saying. There’s probably a reason why posts get deleted on here and on r e d d i t
Not sure why the stock dropped so much today, overall the 2Q numbers don't look that bad... unless Wall Street is taking a closer look and not liking what they find.
Let's see what happens next week, maybe investors will snap up LHX at bargain prices... or will the rout continue?
....and the great beige building is a tiny part of L3Harris.
Agree with previous poster - worked remote and had nothing to do. Told them and they said hang in there! RTO will uncover it all.
if the RTO mandate September 16th does not produce the voluntary departures the company expects, then October will see more RIFs. But, the big RIF won't happen until April 2025. The great beige building in New Jersey where defense work has been done for 77 years, will close.
I love it, bunch of id--ts chasing their "metrics". That dude is an absolute rube. The one thing I can take solace in, is working remote for the last 4 years and doing almost nothing. I bet I have put in about 2 weeks worth of effort, sounds great but it is a miserable existence spending your professional life living a lie and having no control over your future, I have told them that they don't even care. I have ZERO respect for anyone left that I worked with or any of the management. FAST FORWARD!
Effect of the RTO is going to show up in the stock in next quarter, not this, since it was only just announced and isn’t actually required yet.
But yeah next quarter’s earnings will probably tank the stock again.
The gibberish coming out of fu--ing cube’s mouth is cr-p. He needs to be put down.
The RTO mandate is absolutely a result of this quarters overall bad earnings. If they don’t get enough people to quit voluntarily, you can lock in additional layoffs in the fall.
Did Kube sell millions of dollars worth of shares before this earnings call? Or would this time be pushing it since he did it before the RIFs….insider trading what….