Elbit Systems Reports Robust Financial Results For Fourth Quarter And Full Year 2024

$ESLT

Elbit Systems (NASDAQ:ESLT), the defense technology company, headquartered in Haifa, Israel, reported a fourth-quarter profit of $90 million, or $2 per share. When adjusted for one-time gains and costs, earnings were $2.66 per share. The company’s revenue for the quarter stood at $1.93 billion, marking a significant increase from the previous year.

For the entire year, Elbit Systems achieved a profit of $321.1 million, or $7.18 per share, with total revenues reaching $6.83 billion. The substantial growth in revenue and backlog, which now totals $22.6 billion. Approximately 65% of the current backlog is attributed to orders from outside of Israel, highlighting the company’s robust global presence.

Aerospace revenues increased by 27% in the fourth quarter compared to the same period in the previous year, driven by increased UAS revenues in Israel and Europe and Precision Guided Munition (PGM) revenues. The C4I and Cyber segments also saw a 7% increase, mainly due to sales of radio systems and command and control systems. Elbit Systems’ commitment to research and development is evident from its expenditure of $131.2 million in the fourth quarter alone, representing 6.8% of revenues.

Elbit Systems’ President and CEO, Bezhalel (Butzi) Machlis, expressed satisfaction with the results, attributing them to the company’s continuous innovation and dedication. He noted, “Elbit Systems reports a solid set of annual and quarterly results today with a fourth consecutive quarter of double-digit growth in revenues and backlog year-over-year.” Machlis also acknowledged the significant contributions of the company’s employees and managers in achieving these results.

With continued focus on technological innovation and market expansion, the company is positioned to sustain its trajectory and strengthen its market leadership in the defense sector. As Elbit Systems moves forward, it remains committed to delivering solutions to its customers while effectively navigating the complexities of the global defense landscape.

**DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE INTERPRETED AS INVESTMENT ADVICE. INVESTING INVOLVES RISK, INCLUDING THE POTENTIAL LOSS OF PRINCIPAL. READERS ARE ENCOURAGED TO CONDUCT THEIR OWN RESEARCH AND CONSULT WITH A QUALIFIED FINANCIAL ADVISOR BEFORE MAKING ANY INVESTMENT DECISIONS.**