Elbit Systems Q3 Profit Climbs, Beats Market, But Revenues Miss

Add as your preferred news source on Google Add Now Elbit Systems Ltd. (ESLT, ESLT.TA), an Israeli military technology company, reported Tuesday higher profit in its third quarter above market estimates. Revenues increased from last year, but missed the Street view.In the Overnight activity, the shares were gaining 4 percent to trade at $522.82.In the third quarter, net income attributable to the Company's shareholders was $133.40 million, higher than $79.11 million last year. Earnings per share improved to $2.80 from $1.77 a year ago.Adjusted net income was $159.8 million or $3.35 per share, compared to $98.8 million or $2.21 per share last year.The Wall Street analysts on average expected the company to report earnings of $2.73 per share. Analysts' estimates typically exclude special items.Revenues in the third quarter were $1.92 billion, as compared to $1.72 billion in the third quarter of 2024. The Street was looking for revenues of $1.99 billion.Aerospace revenues decreased 3%, while C4I and Cyber revenues increased 14%, ISTAR and EW revenues increased 5%, and Land revenues climbed 41%. Meanwhile, Elbit Systems of America revenues decreased 2%, mainly due to the decrease in Electronic systems and medical instrumentation sales.The Company's order backlog as of September 30 totaled $25.2 billion. The increase in backlog during the quarter came mainly from new European orders.Around 69% of the current backlog is attributable to orders outside of Israel, and around 38% of the order backlog is scheduled to be performed during the remainder of 2025 and 2026. Further, the Board of Directors declared a dividend of $0.75 per share, with record date of December 22 and payment date of January 5, 2026. On Monday, the firm said it has signed an international contract for a strategic solution in an amount of approximately $2.3 billion. The contract will be performed over a period of eight years.For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. For comments and feedback contact: editorial@rttnews.comBusiness News