L3Harris, Huntington Ingalls beat estimates and raise guidance, extending defense earnings rebound

L3Harris and Huntington Ingalls both beat third-quarter estimates and raised guidance, extending a defense-sector earnings rebound. L3Harris posted EPS of $3.28 versus $2.99 expected, on sales of $6.1 billion versus $5.9 billion expected, and lifted its 2026 sales outlook to about $23.6 billion and EPS to about $12.30. Shares rose 6.5% to $277.65. Huntington Ingalls reported EPS of $5.48 versus $4.36 expected and raised its sales midpoint to $10.6 billion; shares jumped 10.7% to $309.29. The gains follow similar beats from Lockheed Martin and Northrop Grumman, helping defense stocks recover from a slump tied to the Iran war and midterm spending concerns. L3Harris's report was the first under new CEO Sam Mehta.