Elbit Systems Q2 profit and revenue jump, sees further growth
ESLT•Quarterly profit and revenue rise
Elbit Systems said on Tuesday it earned $4.14 per diluted share, excluding one-off items, in the second quarter, up from $3.23 a year earlier. Revenue rose to $2.29 billion from $1.97 billion.
The company will pay a quarterly dividend of $1.00 per share.
Defense spending and product development
Machlis said Elbit has many subsidiaries in the U.S. and Europe, where defence spending is rising.
He added that a high-power laser defence system for helicopters would become operational "relatively soon," while Elbit is also developing a similar system for fighter jets. The company is working with defence firm Rafael on ground-based lasers designed to intercept missiles.
Elbit, which is increasing investment in capital expenditure and research and development, said it has strong demand from countries that are party to the Abraham Accords, such as the United Arab Emirates.
Record backlog and overseas demand support outlook
Its order backlog reached a record $32 billion as of June 30, driven mainly by growth in Europe. About 73% of the backlog is for orders from outside Israel.
Elbit forecast continued growth into 2027 helped by robust demand, partly as a result of Israel's military conflicts. CEO Bezhalel Machlis said growth is mainly coming from the international market — the U.S., Europe and Asia Pacific — and that he sees "huge interest" in the company's products and portfolio.
