L3Harris provides solid rocket motors and liquid divert and attitude control systems for THAAD interceptor missiles. Credit: Missile Defense Agency
WASHINGTON — L3Harris Technologies is postponing the initial public offering of its Missile Solutions business, concluding that Wall Street is undervaluing a business that is expanding rapidly to meet one of the Pentagon’s highest priorities: rebuilding U.S. missile production.
The defense contractor said July 29 it now expects to revisit an IPO in mid-2027 rather than pursue the offering in the second half of 2026, the timetable it laid out in January after the Defense Department agreed to invest $1 billion in the business.
Chief Executive Christopher Kubasik told analysts on the company’s second-quarter earnings call that demand for the business continues to strengthen, but recent IPO activity has made public markets less attractive.
“Market conditions have evolved and do not reflect the tremendous value we are building,” Kubasik said. “The demand signals are outstanding. We are actively negotiating more than $20 billion in new contracts, potentially tripling our backlog and positioning us for meaningful and sustained revenue and profit growth.”
