Stocktwits Defense Watch: L3Harris, BA Report Record Backlogs, HII Raises FY2026 Shipbuilding Revenue Forecast

Strong demand for military equipment helped U.S. defense contractors report higher Q3 revenue and growing order books.

• L3Harris reported a record $53.2 billion backlog after securing $19.3 billion in quarterly orders.
• HII secured $32.4 billion in new contracts during Q3, with existing awards covering nearly 90% of its expected shipbuilding revenue through 2030.
• Boeing’s defense revenue jumped 15% to $7.94 billion, but weaker commercial airplane performance weighed on overall results.

With the quarterly earnings season in full swing, U.S. defense firms largely delivered strong results this week, highlighting sharp growth in backlogs driven by rising demand for missiles, military aircraft and naval vessels.

L3Harris Technologies (LHX), Boeing (BA), and HII (HII) all reported topline growth, and while Boeing’s earnings fell short of street expectations, the aircraft maker attributed it to weaker performance of its commercial airplanes division.

L3Harris Raises Outlook As Backlog Hits Record $53.2B

On Thursday, L3Harris reported a 7% increase in third-quarter (Q3) revenue to $6.06 billion, beating Wall Street estimates of $5.94 billion, according to Fiscal.ai. Earnings per share (EPS) jumped 33% to $3.28, beating consensus estimates of $2.95.

Crucially, L3Harris reported a record backlog of $53.2 billion, boosted by quarterly orders of around $19.3 billion. CEO Sam Mehta highlighted strong demand for missile systems, space technologies and military communications equipment.

The outperformance allowed the company to raise its full-year 2026 revenue outlook to $23.5 billion to $23.7 billion from $23.2 billion to $23.7 billion and EPS guidance to $12.25 to $12.35 from $11.80 to $12.00.

LHX shares closed 6.8% higher on Thursday.

HII Secures $32.4B In New Orders In Q3

On Thursday, another defense contractor posted a strong quarterly print. Shipbuilder HII reported record third-quarter revenue of $3.54 billion, up nearly 11% and above Wall Street’s $3.37 billion estimates. EPS surged around 49% to $5.48, significantly higher than the $4.43 estimates.

New contract awards during the quarter totaled $32.4 billion, accounting for the majority of the $43.1 billion in contracts it received year-to-date.

CEO Chris Kastner added that existing awards now cover about 90% of expected shipbuilding revenue through 2030. HII raised its 2026 shipbuilding revenue forecast to $10.5 billion to $10.7 billion from $10.2 billion to $10.4 billion.

HII shares surged after the results, closing 13.2% higher.

Boeing’s Defense Business Grows But Q3 Earnings Miss Street Estimates

Boeing’s 4% topline growth primarily reflected higher defense and services volume. The company’s defense division recorded a 15% increase in Q3 revenue to $7.94 billion.

While earnings from operations and operating margins grew significantly over the last year, the gains reflected a $252 million gain from the sale of HRL Laboratories in July. The division’s backlog reached a record $101 billion.

Overall, revenue came in at $24.19 billion, along with a loss of $0.34 per share. Both metrics were below Street estimates. Revenue from its largest segment, commercial airplanes, declined 3%.

BA shares tanked nearly 11% after the results on Tuesday.

How Have LHX, HII And BA Stocks Performed In 2026?

Retail sentiment surrounding LHX and HII on Stocktwits turned ‘neutral’ from ‘bearish’ over the past 24 hours. Sentiment for BA remained in the ‘bullish’ territory.

Despite strong earnings-driven rallies in L3Harris and HII, all three stocks remain in negative territory year-to-date, with Boeing down nearly 21%, HII falling 9.6%, and L3Harris declining 8.6%.

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