Financial Data and Key Metrics Changes - The third quarter 2020 revenues were $1,134 million, with a non-GAAP gross margin of 26.7%, up from 26.3% in the same quarter last year [13][16] - GAAP gross margin was 20.9%, down from 26% in the third quarter of last year due to non-cash expenses related to inventory write-offs and asset impairment [16] - Non-GAAP operating income was $93 million, or 8.2% of revenues, compared to $81 million, or 7.3% of revenues in the third quarter of last year [17] - GAAP operating income was $24 million, down from $102 million in the same quarter last year [18] - Non-GAAP diluted EPS was $1.64 compared to $1.33 in the third quarter last year, while GAAP EPS was $0.38 versus $1.63 last year [21] Business Line Data and Key Metrics Changes - Land system sales accounted for 29% of total sales and increased year-over-year, mainly due to precision guided munitions sales to North America and Asia Pacific [13] - Electro-optics accounted for 10% of total sales and increased year-over-year, primarily due to the acquisition of Elbit Night Vision [14] - C4ISR, which accounted for 25% of sales, declined year-over-year due to lower radio sales to Latin America [14] Market Data and Key Metrics Changes - North America was the largest geographic area, accounting for 13% of total revenues, followed by Israel at 25%, Asia Pacific at 22%, Europe at 19%, and Latin America at 2% [15] - Growth in Israel was driven by tank fire control systems, while the decline in Latin America was attributed to lower C4ISR sales [15] Company Strategy and Development Direction - The company plans to reorganize some business activities to leverage synergies across manned and unmanned military aircraft and integrate electro-optical systems with electronic warfare and signal intelligence businesses [28] - The company expects defense budgets to grow due to geopolitical tensions and countries' needs to stimulate growth and support domestic employment [25][26] - The company is focused on integrating artificial intelligence and data analysis into command and control solutions, which is expected to be a significant growth driver [36] Management's Comments on Operating Environment and Future Outlook - Management noted that there has been no change in demand for products and services from customers globally, and the backlog growth indicates sustained demand [24] - The company has not seen indications of defense budget cuts in most countries, and geopolitical tensions are expected to continue driving defense budget growth [25] - Management expressed optimism about the potential synergies from the acquisition of Elbit Night Vision and the integration of various business units [31] Other Important Information - The order backlog as of September 30, 2020, was $10.9 billion, more than $1 billion higher than the backlog at the end of the third quarter of 2019 [11][22] - Operating cash flow for the quarter was negative $62 million, reflecting working capital outflow due to the timing of invoicing and collections [23] Q&A Session Summary Question: Can you discuss free cash flow and working capital balance? - Management indicated challenges with the Ministry of Defense in Israel regarding budget discussions, which delayed payments [43][44] Question: What are the organic growth trends, particularly in land systems? - Management noted improvements in land systems due to integration with IMI and increased sales to the Ministry of Defense [48] Question: Can you provide details on commercial aerospace exposure? - Management stated that non-defense business is less than 10%, with commercial aviation being a small part, and expects recovery in traffic levels by 2023-2024 [53][54] Question: What is the primary driver of the reorganization? - The reorganization aims to generate synergies and enhance revenue, aligning business development activities [58] Question: What is the financial potential of partnerships with BAE? - Management highlighted a joint proposal for a tender to replace the Bradley fleet in the U.S. market, indicating significant potential [65]

Elbit Systems Ltd. (NASDAQ:ESLT) Q2 2020 Earnings Conference Call August 13, 2020 9:00 AM ET Company Participants Rami Myerson - Director, IR Bezhalel Machlis - President and CEO Joseph Gaspar - CFO Conference Call Participants Pete Skibitski - Alembic Global Dina Korshunov - Leader Capital Markets Ella Fried - Bank Leumi Operator Ladies and gentlemen, thank you for standing by. Welcome to Elbit Systems Second Quarter 2020 Results Conference Call. All participants are present in listen-only mode. Following ...

Financial Data and Key Metrics Changes - Elbit Systems reported Q1 2020 revenues of $1.071 billion, a 5% increase year-over-year [13] - Non-GAAP gross margin was 27.6%, similar to 27.7% in Q1 2019, while GAAP gross margin was 27% compared to 27.2% last year [15] - Non-GAAP operating income was $90.4 million (8.4% of revenues) compared to $84 million (8.2% of revenues) last year [15] - GAAP operating income increased to $80 million from $76 million in the previous year [15] - Non-GAAP diluted earnings per share was $1.63, up from $1.54 in Q1 2019, while GAAP EPS rose to $1.44 from $1.18 [20] Business Line Data and Key Metrics Changes - Airborne system sales accounted for 36% of total sales, increasing due to growth in military aircraft systems to U.S. customers [13] - Electro-optics represented 11% of total sales, also increasing mainly due to the acquisition of the Night Vision operation [13] Market Data and Key Metrics Changes - North America contributed 34% of revenues, followed by Israel at 23%, Asia Pacific at 20%, and Europe at 17% [14] - Growth in North America offset declines in Israel, Europe, and Asia Pacific, primarily driven by airborne system sales and the Night Vision acquisition [14] Company Strategy and Development Direction - The company is focused on maintaining business continuity and protecting employee safety amid the COVID-19 pandemic [5][26] - Elbit Systems has implemented cost control measures and increased cash management to mitigate financial impacts [8][30] - The company aims to leverage its technological advancements and diverse geographical client base to enhance its market position [30] Management's Comments on Operating Environment and Future Outlook - Management noted that the financial impact of COVID-19 has not been material so far, but some disruptions are expected [6][9] - The backlog of orders as of March 31, 2020, was $10.8 billion, indicating strong visibility and long-term revenue potential [11][21] - Management expressed optimism about returning to pre-pandemic operational levels and highlighted ongoing demand for high-technology solutions [35] Other Important Information - The board declared a reduced dividend of $0.35 per share for Q1 2020 as part of efforts to address the pandemic's impact [24] - The company has a healthy balance sheet with adequate cash levels and access to credit facilities [8][23] Q&A Session Summary Question: Impact on cash flow in Q1 - Management acknowledged that cash flow was impacted by increased inventory and payments to suppliers, resulting in a $10 million outflow [40][41] Question: Cost savings measures - Management implemented temporary salary reductions for executives and reduced overhead expenses, focusing on critical activities [43][44] Question: Organic sales growth expectations - Management indicated it is too early to predict organic sales growth due to the ongoing COVID-19 situation [48] Question: Supplier payments and receivables - Management clarified that they paid approximately $100 million to suppliers and increased inventory by $80 million to ensure timely deliveries [51][52] Question: Defense budgets and market strength - Management noted stability in defense budgets across various regions, with additional investments in the U.S. [54][56] Question: C4ISR market outlook - Management expressed confidence in the C4ISR market, citing potential contracts in Switzerland and the Netherlands [57] Question: Exposure to commercial aerospace - Management reported limited impact from the commercial aerospace sector, with a couple of hundred million dollars in business and no significant negative effects [60][62] Question: Cyberbit transaction impact - Management confirmed that the Cyberbit transaction would not materially change revenue reporting, as only defense cyber revenue is consolidated [63]

Elbit Systems Ltd. (NASDAQ:ESLT) Q4 2019 Earnings Conference Call March 25, 2020 9:00 AM ET Company Participants Rami Myerson - Director, IR Jose Gaspar - CFO Bezhalel Machlis - President & CEO Conference Call Participants Pete Skibitski - Alembic Global Sheila Kahyaoglu - Jefferies Operator Welcome to Elbit Systems Fourth Quarter and Full Year 2019 Results Conference Call. All participants are present in a listen-only mode. Following management's formal presentation, instructions will be given for the ques ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Ordinary Shares, nominal value 1.0 New Israeli Shekel per shareESLT The NASDAQ Global Select Market FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2019 Commission File No. 0-28998 ELBIT SYSTEMS LTD. (Exact name of registrant as specified in its charter and translation of r ...

Elbit Systems Ltd. (NASDAQ:ESLT) Q3 2019 Results Earnings Conference Call November 26, 2019 9:00 AM ET Company Participants Ehud Helft - GKIR Jose Gaspar - CFO Bezhalel Machlis - President and CEO Conference Call Participants Pete Skibitski - Alembic Global Ella Fried - Bank Leumi Operator Ladies and gentlemen, thank you for standing by. Welcome to Elbit Systems Third Quarter 2019 Results Conference Call. All participants are at present in listen-only mode. Following managementÂ's formal presentation, instr ...

Elbit Systems Ltd. (NASDAQ:ESLT) Q2 2019 Results Earnings Conference Call August 15, 2019 8:30 AM ET Company Participants Ehud Helft - GK Investor Relations Jose Gaspar - CFO Bezhalel Machlis - President and CEO Conference Call Participants Pete Skibitski - Alembic Global David Fingold - Dynamic Funds Operator Ladies and gentlemen, thank you for standing by. Welcome to Elbit Systems Second Quarter 2019 Results Conference Call. All participants are at present in listen-only mode. Following managementÂ's form ...

Elbit Systems Ltd. (NASDAQ:ESLT) Q1 2019 Earnings Conference Call May 28, 2019 9:00 AM ET Company Participants Kenny Green - GKIR Jose Gaspar - CFO Bezhalel Machlis - President and CEO Conference Call Participants Pete Skibitski - Alembic Global Ella Fried - Bank Leumi Operator Ladies and gentlemen, thank you for standing by. Welcome to Elbit Systems First Quarter 2019 Results Conference Call. All participants are at present in listen-only mode. Following managementÂ's formal presentation, instructions will ...

Elbit Systems Ltd (NASDAQ:ESLT) Q4 2018 Earnings Conference Call March 19, 2019 10:00 AM ET Company Participants Ehud Helft - GK, IR Bezhalel Machlis - President and CEO Jose Gaspar - CFO Conference Call Participants Pete Skibitski - Alembic Global Operator Ladies and gentlemen, thank you for standing by. Welcome to Elbit Systems Fourth Quarter and Full-Year 2018 Results Conference Call. All participants are at present in a listen-only mode. Following management’s formal presentation, instructions will be g ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2018 Commission File No. 0-28998 ELBIT SYSTEMS LTD. (Exact name of registrant as specified in its charter and translation of registrant's name into English) Israel (Jurisdiction of incorporation or organization) Advanced Technology Center, Haifa 3100401, Israel (Address of principal executive offices) Jos ...