L3Harris Delays Missile Solutions IPO to Mid‑2027

The company says weak public valuations and near‑term budget uncertainty justify waiting while it completes factory expansions and builds backlog.

Overview

L3Harris disclosed Wednesday that it will push the planned initial public offering and spin‑off of its Missile Solutions unit from the second half of 2026 to mid‑2027.
Management said public markets are not reflecting the unit’s value and that recent volatile IPO activity and federal budget uncertainty prompted the timing change.
The Pentagon’s previously announced $1 billion investment remains in place as convertible preferred securities that will convert to equity when the IPO occurs.
Missile Solutions is growing quickly, with second‑quarter revenue up 14% year over year to $1.05 billion, and the company says it is negotiating more than $20 billion in potential contracts that could significantly raise its backlog.
L3Harris will continue multibillion‑dollar factory and line expansions for solid rocket motors and propulsion parts, and it says most IPO proceeds are not needed until 2027–2029, giving it flexibility to wait for higher valuations.