Why Elbit Systems Stock Soared 12% Higher This Week

Core Insights - Elbit Systems experienced a significant share price increase of nearly 12% over the trading week following a strong earnings release [1] Financial Performance - For the fourth quarter and full year, Elbit reported revenues exceeding $1.93 billion, up from$1.63 billion in the same period of 2023 [2] - The company's non-GAAP adjusted net income surged 71% year over year to over $119 million, translating to$2.66 per share [2][3] - Both revenue and profit figures surpassed consensus analyst estimates, which were $1.75 billion in revenue and an adjusted profit of$1.85 per share [3] Operational Highlights - Elbit noted that this quarter marked its fourth consecutive quarter of double-digit revenue growth [3] - CEO Butzi Machlis highlighted the company's success in securing significant contracts globally and emphasized the importance of investments in R&D and production infrastructure [4] Order Backlog - Elbit's order backlog at the end of December stood at $22.6 billion, significantly higher than the$17.8 billion reported at the end of 2023 [5] - Approximately 57% of the backlog is scheduled for shipment within this year and the next [5] Industry Context - The increasing reliance on drone technology in global conflicts positions Elbit favorably for future growth [6]