Farm Share teams up with Global Empowerment Mission to prep Florida for hurricane season
The statewide event begins on Saturday, June 7, at 9 a.m.
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The American Red Cross will sponsor the event alongside Neighbors 4 Neighbors to distribute hurricane supply kits to 6,500 families.
'We know the fear and uncertainty that hurricane season brings for so many Florida families,' said Stephen Shelley, CEO of Farm Share. 'That's why we're committed to showing up, before, during, and after the storm, to make sure our neighbors have the support and supplies they need to stay safe and recover.'
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The locations include:
Tallahassee Fairgrounds – 441 Paul Russell Rd.., Tallahassee, FL 32301
Sumpter Park – 165 SW 3rd Ave, Madison, FL 32340
Fair Ground Youth Fair – 10901 SW 24th St, Miami, FL 33165
Pompano North Lauderdale Park – 4001 NW 62nd St, North Lauderdale, FL 33068
Hand Park – 500 W Canal St S, Belle Glade, FL 33430
West Palm Beach - IBEW Local #728 Building Corp – 4620 Summit Blvd, West Palm Beach, FL 33415
Celebration Church – 9555 R G Skinner Pkwy, Jacksonville, FL 32256
Next Level Church – 12400 Plantation Road, Fort Myers, FL 33966
Raymond James Stadium – 4201 N Himes Ave Lot 14, Tampa, FL 33607
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'Our collective goal is to work hand-in-hand with corporate, government, religious, nonprofit, and individual partners to minimize the impact of major disasters, said Michael Capponi, Founder of GEM. 'We believe that smart partnerships are the key to building a stronger, more resilient response framework.'
Farm Share and GEM delivered more than 13 million pounds of emergency supplies, including food and water, last year.
Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
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Integrated Mission Systems Second Quarter Year to Date 2025 Guidance ($ millions) 2025 2024 Change 2025 2024 Change Revenue $ 1,622 $ 1,671 (3)% $ 3,214 $ 3,298 (3)% ~$6,400(Prior: ~$6,300) Operating margin 13.2% 12.0% 120 bps 13.0 % 11.7% 130 bps ~12%(Prior: high 11%) Revenue: Second quarter revenue decreased 3%, reflecting the divestiture of our CAS business in the first quarter of 2025. Excluding the divestiture impact, organic revenue increased 6% primarily due to ISR classified program ramp. Operating Margin: Second quarter operating margin increased 120 bps to 13.2% primarily due to monetization of legacy end-of-life assets, aligned with our transformation and value creation priorities, partially offset by an unfavorable EAC adjustment from the resolution of a contract matter related to lower utilization on the Canadian Maritime Helicopter Program as it nears completion and impact from divestiture of our CAS business. *Organic revenue is a non-GAAP financial measure defined on page 16. Space and Airborne Systems Second Quarter Year to Date 2025 Guidance ($ millions) 2025 2024 Change 2025 2024 Change Revenue $ 1,787 $ 1,707 5% $ 3,398 $ 3,458 (2)% ~$7,100(Prior: $6,900 - $7,100) Operating margin 12.3% 12.6% (30) bps 11.7% 12.5% (80) bps low 12% Revenue: Second quarter revenue increased 5%, including the impact from the divestiture of our antenna business in the second quarter of 2024. Excluding the divestiture impact, organic revenue increased 7%, primarily from increased FAA volume in our Mission Networks business and higher volume and improved program performance in our Airborne Combat Systems business, partially offset by lower volumes in our Space Systems and Intel and Cyber businesses associated with program timing. Operating Margin: Second quarter operating margin decreased 30 bps to 12.3% primarily from unfavorable mix, partially offset by monetization of legacy end-of-life assets aligned with our transformation and value creation priorities, improved program performance and LHX NeXt driven cost savings. Aerojet Rocketdyne Second Quarter Year to Date 2025 Guidance ($ millions) 2025 2024 Change 2025 2024 Change Revenue $ 698 $ 633 10% $ 1,327 $ 1,217 9% ~$2,800 Operating margin 13.3% 12.8 % 50 bps 12.7% 13.0 % (30) bps mid 12% Revenue: Second quarter revenue increased 10%, including the impact from the divestiture of our AOT business in the fourth quarter of 2024. Excluding the divestiture impact, organic revenue increased 12% from increased production volume across key missile and munitions programs and new program ramp. Operating Margin: Second quarter operating margin increased 50 bps to 13.3%, primarily due to improved performance driven by LHX NeXt driven cost savings and a favorable contract resolution. *Organic revenue is a non-GAAP financial measure defined on page 16. 2025 NON-GAAP EPS GUIDANCE BRIDGE Our updated 2025 non-GAAP diluted EPS guidance reflects an increase of 200 to 300 basis points to the effective tax rate, resulting in a headwind of ~$0.30 at the midpoint. This impact is more than offset by strong first-half performance and increased guidance, driving a net increase of $0.10 to our full-year non-GAAP diluted EPS guidance. 2025 Guidance Non-GAAP diluted EPS (Prior) $10.30 - $10.50 H1 2025 performance and guidance update ~0.40 Non-GAAP EPS (Before tax reform impact) $10.70 - $10.90 Impact of tax reform ~(0.30) Non-GAAP diluted EPS (New)1 $10.40 - $10.60 SUPPLEMENTAL INFORMATION 2025 Other Information Current Prior FAS/CAS operating adjustment ~$15 million ~$15 million Non-service FAS pension income ~$285 million ~$270 million Net interest expense ~$600 million ~$600 million Effective tax rate on non-GAAP income1 13.5% - 14.5% 11.0% - 12.0% Weighted-average diluted shares ~188 188 - 189 Capital expenditures ~2% revenue ~2% revenue 1Non-GAAP diluted EPS and effective tax rate on non-GAAP income are non-GAAP financial measures defined on page 16. A reconciliation of non-GAAP diluted EPS and effective tax rate on non-GAAP income guidance is not available. See Non-GAAP Financial Measures on page 7 for more information. Forward-Looking Statements This earnings release contains forward-looking statements within the meaning of federal securities laws made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples include, but are not limited to: share repurchases; divestiture and realignment impacts; 2025 guidance; budget increases; anticipated LHX NeXt initiative costs and savings; supplemental information for 2025; projection of other financial items; and assumptions underlying any of the foregoing. Investors should not place undue reliance on forward-looking statements, which reflect management's current expectations, estimates, projections, assumptions and information currently available to management, and are not guarantees of future performance or actual results. Important risks that could cause our results to differ materially from those expressed in or implied by these forward-looking statements or from our historical results include, but are not limited to, risks arising from: competitive markets; U.S. Government spending priorities; changes in contract mix; inflation; tariffs and potential trade disputes; unilateral contract action by the U.S. Government; uncertain economic conditions; future geo-political events; supply chain disruptions; impacts of LHX NeXt; indebtedness; defined benefit plan liabilities and returns; interest rates and other market factors; changes in effective tax rate or additional tax exposures; pending and contemplated divestitures. These and other important risks that could impact forward-looking statements are described more fully in the "Risk Factors" in our Form 10-K for fiscal 2024 and our Form 10-Q for Q1 2025 filed with the SEC. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are qualified by the cautionary statements in this section, and we have no duty to and disclaim any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events or developments or otherwise. Non-GAAP Financial Measures Management believes the adjustments to non-GAAP Financial Measures ("NGFMs") in the tables beginning on page 13 are useful to investors because the excluded costs do not reflect our ongoing operating performance. 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Table 1 - Condensed Consolidated Statement of Operations (Unaudited) Second Quarter Year to Date ($ millions, except per share amounts) 2025 2024 2025 2024 Revenue $ 5,426 $ 5,299 $ 10,558 $ 10,510 Cost of revenue (4,091 ) (3,939 ) (7,873 ) (7,802 ) General and administrative expenses (764 ) (884 ) (1,589 ) (1,854 ) Operating income 571 476 1,096 854 Non-service FAS pension income and other, net1 105 86 189 174 Interest expense, net (152 ) (172 ) (302 ) (348 ) Income before income taxes 524 390 983 680 Income taxes (66 ) (23 ) (139 ) (28 ) Net income 458 367 844 652 Noncontrolling interests, net of income taxes — (1 ) — (3 ) Net income attributable to L3Harris $ 458 $ 366 $ 844 $ 649 Earnings per share attributable to common shareholders Basic $ 2.45 $ 1.93 $ 4.50 $ 3.42 Diluted $ 2.44 $ 1.92 $ 4.48 $ 3.40 Weighted-average common shares outstanding Basic 187.0 189.7 187.7 189.8 Diluted 187.8 190.6 188.5 190.8 1"FAS" is defined as Financial Accounting Standards. Table 2 - Consolidated Statement of Cash Flow (Unaudited) Second Quarter Year to Date ($ millions) 2025 2024 2025 2024 Operating Activities Net income $ 458 $ 367 $ 844 $ 652 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 303 319 604 639 Share-based compensation 29 27 48 53 Net periodic benefit income (66 ) (71 ) (150 ) (143 ) Share-based matching contributions under defined contribution plans 68 72 136 142 Deferred income taxes (5 ) (136 ) (94 ) (247 ) (Increase) decrease in: Receivables, net 64 (32 ) (383 ) (25 ) Contract assets (214 ) 175 (634 ) (165 ) Inventories, net (6 ) 27 86 6 Other current assets (3 ) (36 ) (22 ) (26 ) Increase (decrease) in: Accounts payable (14 ) (209 ) 38 (200 ) Contract liabilities 193 14 177 (138 ) Compensation and benefits 130 69 25 (101 ) Other current liabilities (279 ) 103 (268 ) 85 Income taxes 48 108 321 211 Other operating activities (66 ) (43 ) (130 ) (93 ) Net cash provided by operating activities 640 754 598 650 Investing Activities Capital expenditures (88 ) (97 ) (147 ) (212 ) Proceeds from sales of businesses, net of cash divested — 158 831 158 Other investing activities 10 (3 ) (18 ) (4 ) Net cash (used in) provided by investing activities (78 ) 58 666 (58 ) Financing Activities Proceeds from issuances of long-term debt, net — 4 — 2,241 Repayments of long-term debt (606 ) (357 ) (611 ) (2,607 ) Change in commercial paper, maturities under 90 days, net 450 171 470 497 Proceeds from commercial paper, maturities over 90 days — 208 — 688 Repayments of commercial paper, maturities over 90 days — (480 ) — (685 ) Repurchases of common stock (253 ) (89 ) (822 ) (322 ) Dividends paid (225 ) (221 ) (453 ) (445 ) Other financing activities 24 20 1 33 Net cash (used in) provided by financing activities (610 ) (744 ) (1,415 ) (600 ) Effect of exchange rate changes on cash and cash equivalents 13 2 18 (5 ) Net decrease in cash and cash equivalents (35 ) 70 (133 ) (13 ) Cash and cash equivalents, beginning of period 517 477 615 560 Cash and cash equivalents, end of period $ 482 $ 547 $ 482 $ 547 Table 3 - Condensed Consolidated Balance Sheet (Unaudited) ($ millions) June 27, 2025 January 3, 2025 Assets Current assets Cash and cash equivalents $ 482 $ 615 Receivables, net 1,437 1,072 Contract assets 3,857 3,230 Inventories, net 1,258 1,330 Income taxes receivable 93 379 Other current assets 481 461 Assets of business held for sale — 1,131 Total current assets 7,608 8,218 Non-current assets Property, plant and equipment, net 2,742 2,806 Goodwill 20,372 20,325 Intangible assets, net 7,261 7,639 Deferred income taxes 89 120 Other non-current assets 3,168 2,893 Total assets $ 41,240 $ 42,001 Liabilities and equity Current liabilities Short-term debt $ 985 $ 515 Current portion of long-term debt, net 141 640 Accounts payable 2,033 2,005 Contract liabilities 2,317 2,142 Compensation and benefits 444 419 Other current liabilities 1,402 1,677 Liabilities of business held for sale — 235 Total current liabilities 7,322 7,633 Non-current liabilities Long-term debt, net 10,976 11,081 Deferred income taxes 800 942 Other non-current liabilities 2,864 2,766 Total liabilities 21,962 22,422 Total equity 19,278 19,579 Total liabilities and equity $ 41,240 $ 42,001 Reconciliation of Non-GAAP Financial Measures Table 4 - Organic Revenue Reconciliation (Unaudited) Second Quarter 2025 2024 ($ millions) GAAP Adjustments Organic GAAP Adjustments1 Organic CS $ 1,376 — $ 1,376 $ 1,346 — $ 1,346 IMS 1,622 — 1,622 1,671 (138 ) 1,533 SAS 1,787 — 1,787 1,707 (32 ) 1,675 AR 698 — 698 633 (12 ) 621 Corporate eliminations (57 ) — (57 ) (58 ) — (58 ) Revenue $ 5,426 $ — $ 5,426 $ 5,299 $ (182 ) $ 5,117 Year to Date 2025 2024 ($ millions) GAAP Adjustments Organic GAAP Adjustments1 Organic CS $ 2,728 $ — $ 2,728 $ 2,640 $ — $ 2,640 IMS 3,214 — 3,214 3,298 (138 ) 3,160 SAS 3,398 — 3,398 3,458 (76 ) 3,382 AR 1,327 — 1,327 1,217 (20 ) 1,197 Corporate eliminations (109 ) — (109 ) (103 ) — (103 ) Revenue $ 10,558 $ — $ 10,558 $ 10,510 $ (234 ) $ 10,276 1Adjustment to exclude amounts attributable to divested businesses. Table 5 - Reconciliation of Operating Income to Adjusted Segment Operating Income (Unaudited) Second Quarter Year to Date ($ millions) 2025 2024 2025 2024 Operating income $ 571 $ 476 $ 1,096 $ 854 Unallocated corporate department items Amortization of acquisition-related intangibles 193 215 387 432 Unallocated corporate department expense, net 50 33 65 66 FAS/CAS operating adjustment (3 ) (6 ) (6 ) (13 ) Total unallocated corporate department items 240 242 446 485 Significant and/or non-recurring items: Merger, acquisition, and divestiture-related expenses1 13 21 30 61 Business divestiture-related losses and impairment of goodwill1 — 38 17 38 LHX NeXt implementation costs1 39 48 74 175 Total significant and/or non-recurring items 52 107 121 274 Unallocated corporate expenses 292 349 567 759 Adjusted segment operating income $ 863 $ 825 $ 1,663 $ 1,613 1Refer to Key Terms and Non-GAAP Definitions on page 16. Table 6 - Reconciliation of Effective Tax Rate to Effective Tax Rate on Non-GAAP Income (Unaudited) Second Quarter 2025 2024 ($ millions) Earnings Before Tax Tax Expense (Benefit) Effective Tax Rate Earnings Before Tax Tax Expense Effective Tax Rate Income before income taxes $ 524 $ 66 12.6 % $ 390 $ 23 5.9 % Merger, acquisition, and divestiture-related expenses1 13 3 21 7 Business divestiture-related losses and impairment of goodwill1 — (18 ) 38 (2 ) LHX NeXt implementation costs1 39 4 48 11 Non-GAAP income before income taxes $ 576 $ 55 9.5 % $ 497 $ 39 7.8 % Year to Date 2025 2024 ($ millions) Earnings Before Tax Tax Expense (Benefit) Effective Tax Rate Earnings Before Tax Tax Expense Effective Tax Rate Income before income taxes $ 983 $ 139 14.1 % $ 680 $ 28 4.1 % Merger, acquisition, and divestiture-related expenses1 30 4 61 16 Business divestiture-related losses and impairment of goodwill1 17 (23 ) 38 (2 ) LHX NeXt implementation costs1 74 7 175 22 Non-GAAP income before income taxes $ 1,104 $ 127 11.5 % $ 954 $ 64 6.7 % 1Refer to Key Terms and Non-GAAP Definitions on page 16. Table 7 - Reconciliation of Diluted EPS to Non-GAAP Diluted EPS and Pension Adjusted Non-GAAP Diluted EPS (Unaudited) Second Quarter Year to Date ($ millions, except per share data) 2025 2024 2025 2024 Diluted weighted-average common shares outstanding 187.8 190.6 188.5 190.8 Diluted EPS $ 2.44 $ 1.92 $ 4.48 $ 3.40 Significant and/or non-recurring items included in diluted EPS above: Merger, acquisition, and divestiture-related expenses1 0.07 0.11 0.16 0.32 Business divestiture-related losses and impairment of goodwill1 — 0.20 0.09 0.20 LHX NeXt implementation costs1 0.21 0.25 0.39 0.92 Income taxes on above adjustments and other, net2 0.06 (0.08 ) 0.06 (0.20 ) Non-GAAP diluted EPS2 $ 2.78 $ 2.40 $ 5.18 $ 4.64 Less: per share impact of: FAS/CAS operating adjustment3 (0.01 ) (0.03 ) (0.03 ) (0.06 ) Non-service FAS pension income3 (0.35 ) (0.39 ) (0.77 ) (0.79 ) Pension adjusted non-GAAP diluted EPS $ 2.42 $ 1.98 $ 4.38 $ 3.79 1Refer to Key Terms and Non-GAAP Definitions on page 16. 2Second quarter 2024 amount updated to exclude adjustment of $1.13 per share and $0.29 per share for amortization of acquisition-related intangible assets and related income tax expense, respectively. Year to date 2024 amount updated to exclude adjustment of $2.26 per share and $0.60 per share for amortization of acquistion-related intangible assets and related income tax expense, respectively. 3Net of tax effect. Table 8 - Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) Second Quarter Year to Date ($ millions) 2025 2024 2025 2024 Net cash provided by operating activities $ 640 $ 754 $ 598 $ 650 Capital expenditures (88 ) (97 ) (147 ) (212 ) Proceeds from disposal of property, plant and equipment, net 9 — 9 — Free cash flow 561 657 460 438 Cash used for merger, acquisition and severance1 13 57 42 120 Adjusted free cash flow $ 574 $ 714 $ 502 $ 558 1Refer to Key Terms and Non-GAAP Definitions on page 16. Key Terms and Non-GAAP Definitions Description Definition Merger, acquisition, and divestiture-related expenses Transaction and integration expenses associated with the AJRD acquisition; external costs related to pursuing acquisition and divestiture portfolio optimization; non-transaction costs related to divestitures; and salaries of employees in roles dedicated to planned divestiture and acquisition activity. Business divestiture-related losses and impairment of goodwill In 2024, includes loss on sale and impairment of goodwill recognized in connection with the sale of our antenna and related businesses and a loss associated with the then pending divestiture of our Commercial Aviation Solutions business. In 2025, includes loss recognized in connection with the sale of our Commercial Aviation Solutions business. LHX NeXt implementation costs Costs related to the LHX NeXt initiative are expected to continue into 2026 and are expected to include workforce optimization costs and incremental IT expenses for implementation of new systems, third-party consulting expenses and other related costs, including costs related to personnel dedicated to this project. Organic revenue* Excludes the impact of completed divestitures and is reconciled in Table 4. Orders Total value of funded and unfunded contract awards received from the U.S. Government and other customers, including incremental funding and adjustments to previous awards, excluding unexercised contract options and potential orders under ordering-type contracts, such as indefinite delivery, indefinite quantity (IDIQ) contracts. Non-GAAP income before income taxes* Represents income before income taxes adjusted for items reconciled in Table 6. Effective tax rate on non-GAAP income* Represents the effective tax rate (tax expense as a percentage of income before income taxes) adjusted for the tax effect of items reconciled in Table 6. Adjusted segment operating income and margin* On a consolidated basis represents operating income and margin, excluding unallocated corporate department items and items reconciled in Table 5. Non-GAAP diluted EPS* Represents EPS (earnings per share attributable to common shareholders) adjusted for items reconciled in Table 7. Pension adjusted non-GAAP diluted EPS* Represents Non-GAAP diluted EPS, described above, adjusted for the after tax per share impact of the FAS/CAS operating adjustment and Non-service FAS pension income reconciled in Table 7. Adjusted free cash flow* Net cash provided by operating activities less capital expenditures, plus proceeds from disposal of property, plant and equipment and cash used for merger, acquisition and severance reconciled in Table 8. Cash used for merger, acquisition, and severance* Cash related to merger, acquisition and divestiture-related expenses (described above) and severance costs included in LHX NeXt implementation costs. _____ *Refer to Non-GAAP Financial Measures on page 7 for more information. View source version on Contacts Investor Relations Contact: Daniel Gittsovich, 321-724-3170investorrelations@ Media Relations Contact: Sara Banda, 321-306-8927media@
