Earnings Release ELBIT SYSTEMS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Backlog of orders at $17.8 billion; Revenues of $6.0 billion; Non-GAAP net income of $299 million; GAAP net income of $215 million; Non-GAAP net EPS of $6.70; GAAP net EPS of $4.82 Haifa, Israel, March 26, 2024 – Elbit Systems Ltd. ("Elbit Systems" or the "Company") (NASDAQ and TASE: ESLT), the international high technology defense company, reported today its consolidated results for the fourth quarter and full year ended Decem ...

HAIFA, Israel, March 25, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it has been awarded a contract worth approximately $300 million to supply defense solutions to an international customer. The contract will be performed over a period of ten years. Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: " This contract further validates our position as a global leader in defense technology, delivering advanced solutions t ...

HAIFA, Israel , March 5, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it expects to record non-cash expenses of approximately $52 million in the fourth quarter of 2023. The expenses are related to the write-off of inventory due to the closing of an underperforming subsidiary with limited synergies to the Company, and of contract assets related to a discontinued project managed under the subsidiary. Approximately $34 million of th ...

HAIFA, Israel, Feb. 26, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company"), announced today, following its announcement from August 16, 2023, that it was awarded a contract worth approximately $600 million to supply systems to Hanwha Defense Australia for the Australian Land 400 Phase 3 Project. This project aims to deliver advanced protection, fighting capabilities and sensors suite to the Redback Infantry Fighting Vehicles (IFV) for the Australian Army. ...

Conference Call Scheduled for March 26, 2024 at 9:00am ETHAIFA, Israel, Feb. 26, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it will be releasing its fourth quarter and full year 2023 financial results on Tuesday, March 26, 2024. Results Conference CallThe Company will host a conference call on March 26, 2024, at 9:00am Eastern Time. On the call, management will review and discuss the results and will be available to answer questions. To partici ...

HAIFA, Israel, Feb. 20, 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 $300 million to supply weapon, reconnaissance, driving, and situational awareness systems for approximately 230 armored vehicles, to a European customer. The contract will be performed over a period of six years and includes custom design, production, lifecycle maintenance and complete in-country support.  ...

Financial Data and Key Metrics Changes - Third quarter revenues increased by 11% to $1.52 billion compared to $1.34 billion in the third quarter of 2022 [4] - Non-GAAP diluted EPS was $1.65 in the third quarter compared with $1.40 in 2022, while GAAP diluted EPS was $1.36 for the third quarter compared with $1.26 in 2022 [7] - Non-GAAP operating income was $117 million or 7.8% of revenues, compared to $84.3 million or 6.3% of revenues last year [62] - GAAP operating income for the third quarter was $106.1 million or 7.1% of revenues versus $73.4 million or 5.4% of revenues in the third quarter of 2022 [62] - The backlog of orders as of September 30, 2023, was $16.6 billion, approximately $1.9 billion higher than the backlog at the end of the third quarter of 2022 [88] Business Line Data and Key Metrics Changes - Aerospace revenues increased by 24% in the third quarter of 2023 compared to the third quarter of 2022, mainly due to training and simulation sales in Europe and UAS sales in Asia Pacific [4] - C4I and Cyber revenues increased by 9% year-over-year, mainly due to radio system sales in Europe [4] - Land revenues increased by 7%, mainly due to artillery and weapon station sales [4] - Elbit Systems of America revenues declined 2% in the third quarter due to lower precision guided munition sales [85] Market Data and Key Metrics Changes - Europe was the largest market, contributing 33% of group revenues; North America contributed 24%; Asia Pacific contributed 21%; and Israel contributed 15% of revenues [5] - European revenues increased due to growth in sales of radio systems, artillery, weapon station, and training and simulation solutions [85] - Israel revenues declined mainly due to lower ammunition sales in the quarter [86] Company Strategy and Development Direction - The company is implementing an operational improvement plan to support transformation into a larger, more profitable entity [15] - The war in Israel has not changed long-term plans but has increased focus on the portfolio to identify capability or technology gaps [15] - The company is exploring M&A opportunities to enhance capabilities and divest less relevant businesses [22][104] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming short-term challenges and delivering on long-term potential [9] - The impact of the war on financial results is uncertain and will depend on future developments [60] - The company has ramped up production to support the IDF while maintaining deliveries to international customers [66] Other Important Information - The effective tax rate in the third quarter was 15% compared to 13% in 2022 [7] - Operating cash flow in the third quarter was an $11 million inflow compared to $178 million inflow in the same quarter last year [64] - The company has increased production capacity by adding shifts and hiring temporary employees to support operations [66] Q&A Session Summary Question: Will the mobilization of employees have a financial impact? - Management indicated that the mobilization of approximately 15% of the workforce would not contribute financially in the quarter, but temporary employees are being recruited to mitigate disruptions [25][80] Question: What is the status of the supplemental funding request from the US? - Management expects to receive part of the supplemental funding package, which could present significant opportunities for the company [77] Question: Are there any differences in margins for rush orders from Israel? - Management stated that there is no difference in margins for rush orders compared to usual margins [34] Question: What is the potential for the Sayyad system in other markets? - Management noted that there is significant interest in the Sayyad system, with several international customers already engaged [47]

Earnings Release ELBIT SYSTEMS REPORTS THIRD QUARTER 2023 RESULTS Backlog of orders at $16.6 billion; Revenues of $1.5 billion; Non-GAAP net income of $73.5; GAAP net income of $60.7 million; Non-GAAP net EPS of $1.65; GAAP net EPS of $1.36 Haifa, Israel, November 28, 2023 – Elbit Systems Ltd. ("Elbit Systems" or the "Company") (NASDAQ and TASE: ESLT), the international high technology defense company, reported today its consolidated results for the third quarter ended September 30, 2023. In this release, t ...

Elbit Systems (NASDAQ:ESLT) Q2 2023 Earnings Conference Call August 15, 2023 9:00 AM ET Company Participants Rami Myerson - Investor Relations Kobi Kagan - Chief Financial Officer Bezhalel Machlis - President, Chief Executive Officer Yossi Gaspar - Senior Executive Vice President, Business Management Conference Call Participants Sheila Kahyaoglu - Jefferies Peter Skibitski - Alembic Global Ella Fried - Bank Leumi Elad Kraus - Meitav Brokerage LTD Boaz Ben-Shitrit - Altshuler Shaham Operator Ladies and gentl ...

Earnings Release ELBIT SYSTEMS REPORTS SECOND QUARTER 2023 RESULTS Backlog of orders at $16.1 billion; Revenues of $1.5 billion; Non-GAAP net income of $70.2; GAAP net income of $62.4 million; Non-GAAP net EPS of $1.57; GAAP net EPS of $1.40 Haifa, Israel, August 15, 2023 – Elbit Systems Ltd. ("Elbit Systems" or the "Company") (NASDAQ and TASE: ESLT), the international high technology defense company, reported today its consolidated results for the second quarter ended June 30, 2023. In this release, the Co ...