Elbit Systems Q1 Revenues Rise 15.5% to $2.19 B, Backlog Hits $30.2 B
ESLT•Elbit Systems posted Q1 2026 revenues of $2.19 billion, up 15.5%, driving GAAP net income to $160.8 million and non-GAAP net income to $186.4 million. The company’s record $30.2 billion backlog, fueled by European and Israeli orders, supports its expansion in automation, AI and R&D.
1. Q1 2026 Financial Performance
Elbit Systems’ Q1 2026 revenue reached $2.19 billion, up 15.5% from Q1 2025, with GAAP net income of $160.8 million (7.3% of revenues) and non-GAAP net income of $186.4 million (8.5%). GAAP and non-GAAP operating margins improved to 9.4% and 10.1%, respectively, driven by strong gross profit expansion.
2. Segment Growth Drivers
All core segments posted growth: C4I and Cyber revenues rose 17%, ISTAR and EW increased 17%, Land business jumped 27%, Aerospace ticked up 2%, and Elbit Systems of America saw a 5% gain, reflecting robust demand for command and control systems, lasers, munitions and night-vision devices.
3. Record Backlog and Contract Wins
Order backlog surged to a record $30.2 billion, with 71% attributable to customers outside Israel and 49% scheduled for delivery by end-2027. A major European contract win further bolstered the backlog, underscoring the company’s strategic partnerships across land, sea and air domains.
4. Operational Scaling and R&D Investment
Elbit Systems ramped up production capacity through automation, robotics and AI to meet rising demand while maintaining strict capital discipline. R&D investment climbed to $150.4 million (6.9% of revenues) as the company prioritizes next-generation defense technologies to support long-term growth.
