Financial Performance - Revenues for Q3 2024 were $1.7175 billion, up from $1.5016 billion in Q3 2023, representing a growth of 14.4%[5] - Non-GAAP net income was $98.8 million (5.8% of revenues) for Q3 2024, compared to $76.5 million (5.1% of revenues) in Q3 2023, reflecting a 29.1% increase[13] - GAAP net income for Q3 2024 was $79.1 million (4.6% of revenues), up from $60.7 million (4.0% of revenues) in Q3 2023, marking a 30.5% increase[13] - Non-GAAP diluted earnings per share were $2.21 for Q3 2024, compared to $1.71 for Q3 2023, an increase of 29.2%[13] - For the nine months ended September 30, 2024, GAAP gross profit was $1,176.6 million, an increase from $1,100.8 million for the same period in 2023, representing a growth of 6.9%[28] - Non-GAAP net income attributable to Elbit Systems' shareholders for the nine months ended September 30, 2024, was $272.2 million, compared to $229.0 million for the same period in 2023, reflecting an increase of 18.9%[28] - GAAP diluted net EPS for the nine months ended September 30, 2024, was $5.18, compared to $4.15 for the same period in 2023, an increase of 24.9%[28] - Total revenues for the nine months ended September 30, 2024, increased to $4,897.7 million, up 12.6% from $4,349.0 million in the same period of 2023[46] - Operating income for the nine months ended September 30, 2024, rose to $347.7 million, a 15.3% increase from $301.5 million in the same period of 2023[46] - Net income attributable to Elbit Systems Ltd.'s shareholders for the nine months ended September 30, 2024, was $231.1 million, compared to $185.1 million in the same period of 2023, reflecting a growth of 24.9%[46] Revenue Breakdown - Revenue from Israel increased to $1,395.1 million, accounting for 28.5% of total revenue, compared to $730.0 million and 16.8% in the previous year[49] - North America revenue rose to $1,082.4 million, representing 22.1% of total revenue, slightly up from $1,049.6 million and 24.1% in the prior year[49] - Europe generated $1,287.2 million in revenue, making up 26.3% of total revenue, down from $1,329.7 million and 30.6% in the previous year[49] - Asia-Pacific revenue decreased to $858.4 million, representing 17.5% of total revenue, compared to $968.1 million and 22.3% in the previous year[49] Segment Performance - Aerospace revenues increased by 7%, C4I and Cyber revenues by 13%, ISTAR and EW revenues by 13%, and Land revenues by 24% in Q3 2024 compared to Q3 2023[6] - The Aerospace segment reported external customer revenue of $1,216.2 million for the nine months ended September 30, 2024, up from $1,188.1 million in the same period last year[50] - C4I and Cyber segment external customer revenue increased to $558.4 million, compared to $490.7 million in the previous year[50] - ISTAR and EW segment external customer revenue rose to $832.8 million, up from $735.6 million in the prior year[50] - Land segment external customer revenue increased significantly to $1,144.0 million, compared to $884.7 million in the previous year[50] - Total revenues from reportable segments for the nine months ended September 30, 2024, were $5,340.4 million, up from $4,769.2 million in the previous year[50] Cash Flow and Investments - Cash flow from operating activities was $82.5 million for the nine months ended September 30, 2024, compared to cash flow used of $200.0 million in the same period of 2023[14] - The company reported a net cash provided by operating activities of $82.5 million for the nine months ended September 30, 2024, compared to a net cash used of $200.0 million in the same period of 2023[48] - The company invested approximately $87 million in new manufacturing facilities during the nine months ended September 30, 2024[48] Order Backlog and Contracts - The order backlog reached a record high of $22.1 billion, with approximately 66% of it from international orders[13] - The company was awarded a contract worth approximately $200 million by the Israeli Ministry of Defense for high-power laser systems for the "Iron Beam" air defense system[30] - A follow-on contract of approximately $127 million was awarded for the supply of Iron Fist Active Protection Systems to General Dynamics, to be performed over 34 months[31] - Contracts totaling approximately $335 million were awarded to supply defense systems to a European country, including PULS™ rocket launchers and Hermes™ 900 Unmanned Aircraft Systems[32] Research and Development - Research and development expenses were $119.9 million (7.0% of revenues) in Q3 2024, up from $103.3 million (6.9% of revenues) in Q3 2023[9] - Research and development expenses for the nine months ended September 30, 2024, were $335.2 million, representing an increase of 9.2% from $307.1 million in the same period of 2023[46] Operational Challenges - Approximately 8% of employees were recruited for reserve duty as of September 30, 2024, impacting operations and supply chains[18] Dividends - The Board of Directors declared a dividend of $0.50 per share, with a record date of December 23, 2024[33]

Core Viewpoint - Elbit Systems Ltd. has been awarded contracts totaling approximately $335 million to supply defense systems to a European country, which includes PULS rocket launchers and Hermes 900 Unmanned Aircraft Systems [1] Group 1: Contracts and Financials - The contracts will be executed over a period of three years and six months [1] - Elbit Systems reported approximately $1.6 billion in revenues as of June 30, 2024, with an order backlog of approximately $21.1 billion [6] Group 2: Product Details - The PULS system offers a versatile solution for launching unguided rockets, precision-guided munitions, and missiles, adaptable to various platforms, which reduces maintenance and training costs [2] - The Hermes 900 is Elbit Systems' largest unmanned aerial vehicle, designed for a variety of missions including intelligence, surveillance, and reconnaissance, and has been selected by over 20 customers globally since its introduction in 2011 [3] Group 3: Leadership Perspective - Bezhalel Machlis, President and CEO, emphasized the company's commitment to providing advanced defense solutions that enhance operational effectiveness and adaptability, reflecting global trust in their innovative systems [4]

Group 1 - Investors are maintaining a 15% increase in Elbit Systems' stock following the announcement of its high-powered laser interception system [1] - The focus is on Israel-domiciled stocks within various ETFs, including iShares MSCI Israel ETF, VanEck Israel ETF, Amplify Bluestar Israel Technology ETF, and ARK Israel Innovative Technology ETF [1]

Group 1 - Elbit Systems Ltd. has been awarded a follow-on contract worth approximately $127 million to supply Iron Fist Active Protection Systems to General Dynamics Ordnance and Tactical Systems for upgrades to the U.S. Army's Bradley M2A4E1 Infantry Fighting Vehicles [1] - The contract will be executed over a period of 34 months, indicating a long-term commitment to enhancing military capabilities [1] - The Iron Fist APS is designed to provide 360-degree protection against various anti-tank threats, showcasing its advanced technology and effectiveness in both open and urban environments [2][3] Group 2 - Elbit Systems is recognized for its innovative active protection systems, which are crucial for the self-defense of armored platforms [3] - The company employs over 20,000 people globally and reported revenues of approximately $1.6 billion as of June 30, 2024, with an order backlog of about $21.1 billion [5]

Company Overview - Elbit Systems is a leading global defense technology company that develops, manufactures, integrates, and sustains advanced solutions across multiple domains [4] - The company employs over 20,000 people in various countries across five continents [5] Financial Performance - As of June 30, 2024, Elbit Systems reported approximately $1.6 billion in revenues and an order backlog of approximately $21.1 billion [5] Upcoming Events - Elbit Systems will release its third quarter 2024 financial results on November 19, 2024 [1] - A conference call to discuss the results will be held at 10:00 am Eastern Time, with management available to answer questions [2]

Elbit Systems (ESLT) came out with quarterly earnings of $2.08 per share, beating the Zacks Consensus Estimate of $1.77 per share. This compares to earnings of $1.57 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 17.51%. A quarter ago, it was expected that this maker of defense electronics would post earnings of $1.60 per share when it actually produced earnings of $1.81, delivering a surprise of 13.13%. Over the last four q ...

Core Insights - Elbit Systems reported a consolidated revenue of $1.6 billion for the second quarter of 2024, reflecting a 12% year-over-year increase from $1.45 billion in the same quarter of 2023 [3][4]. - The company has an order backlog of $21.1 billion, with approximately 69% of this backlog attributed to international orders [13][36]. - Non-GAAP net income for the second quarter of 2024 was $93 million, or $2.08 per diluted share, compared to $73.5 million, or $1.65 per diluted share, in the second quarter of 2023 [11][12]. Financial Performance - Revenues for the second quarter of 2024 were $1,626.2 million, up from $1,453.9 million in the second quarter of 2023 [4]. - Non-GAAP gross profit was $396.2 million, representing 24.4% of revenues, compared to $379.3 million or 26.1% of revenues in the same quarter of 2023 [6]. - GAAP net income attributable to shareholders was $78 million, up from $62.4 million in the second quarter of 2023 [11]. Segment Performance - Aerospace revenues remained stable compared to the second quarter of 2023, while C4I and Cyber revenues increased by 11% due to radio systems sales [5]. - ISTAR and EW revenues rose by 9%, driven by sales in Electronic Warfare and Electro-Optic systems in Israel and Asia-Pacific [5]. - Land revenues surged by 37%, primarily due to increased sales of ammunition in Israel [5]. Research and Development - Research and development expenses for the second quarter of 2024 were $116.8 million, or 7.2% of revenues, compared to $93.4 million, or 6.4% of revenues, in the second quarter of 2023 [7]. - Marketing and selling expenses decreased to $87.7 million, or 5.4% of revenues, from $101.7 million, or 7.0% of revenues, in the same quarter of 2023 [7]. Recent Contracts and Developments - The company was awarded a contract worth approximately $190 million to supply Iron Sting laser and GPS-guided mortar munitions to the Israeli Ministry of Defense [27]. - A contract valued at approximately $340 million for ammunition supply to the Israeli Ministry of Defense was also announced, with a manufacturing facility to be established [28]. - Elbit Systems secured a $270 million contract for rocket artillery supply to an international customer [29]. Impact of Current Events - The ongoing conflict in Israel has led to increased demand for Elbit Systems' products from the Israel Ministry of Defense, with a material rise in orders compared to pre-war levels [15]. - The company has experienced some operational disruptions due to supply chain constraints and employee mobilization for reserve duty, with approximately 6% of employees mobilized as of June 30, 2024 [16]. - Elbit Systems is taking measures to ensure employee safety and maintain production levels, including relocating production lines and increasing inventory [17]. Dividend Declaration - The Board of Directors declared a dividend of $0.50 per share, with a record date of October 15, 2024, and payment scheduled for October 28, 2024 [31]. Conference Call - A conference call was scheduled for August 14, 2024, to discuss the results and answer questions from investors [32].

HAIFA, Israel, Aug. 8, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it was awarded a contract worth approximately $130 million to supply Iron Fist Active Protection Systems (APS) to BAE Systems Hägglunds. The systems will be installed on the CV90 Infantry Fighting Vehicle (IFV) as part of a project of a European country. The contract will be performed over a period of five and a half years. The Iron Fist APS is an advanced Hard K ...

HAIFA, Israel, Aug. 6, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it was awarded a contract worth approximately $270 million to supply rocket artillery to an international customer. The contract will be performed over a period of 4 years. Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: "This contract reaffirms Elbit Systems' position as a leading provider of advanced artillery solutions, enhancing the operational ...

HAIFA, Israel, Aug. 1, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today, that it was awarded a contract in an amount of approximately $340 million for the supply of ammunition to the Israeli Ministry of Defense (IMOD). The contract will be performed over a period of 10 years. Elbit Systems will establish a manufacturing facility to produce the ammunition. Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: "We continue to expand ...