It's been almost two months since defense contractor L3Harris (NYSE: LHX) reported its first-quarter 2023 earnings. To date, the total change in share price from before earnings came out through Friday's closing price is...less than 1% (specifically, down by 0.7%).

Over the entire two-month span, L3Harris shares have gyrated a bit more than that tiny change might suggest. However, overall and over a considerable span of time, investor consensus still appears to be that L3Harris's Q1 earnings report was kind of a non-event, and the company is doing just fine today.

I disagree.

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Source Fool.com