ELBIT SYSTEMS REPORTS THIRD QUARTER 2025 RESULTS

Core Insights - Elbit Systems reported strong quarterly results with significant growth in sales and profits, alongside a record order backlog exceeding $25 billion, indicating long-term visibility for future operations [3][14]. Financial Performance - Revenues for Q3 2025 were $1.92 billion, up from $1.72 billion in Q3 2024, reflecting a year-over-year increase of approximately 11.8% [4]. - GAAP net income for Q3 2025 was $133.4 million (6.9% of revenues), compared to $79.1 million (4.6% of revenues) in Q3 2024, marking a 68.5% increase [12]. - Non-GAAP net income for Q3 2025 was $159.8 million (8.3% of revenues), up from $98.8 million (5.8% of revenues) in Q3 2024, representing a 61.7% increase [12]. - GAAP diluted earnings per share (EPS) were $2.80 for Q3 2025, compared to $1.77 in Q3 2024, while non-GAAP diluted EPS were $3.35, up from $2.21 [13]. Revenue Breakdown - Aerospace revenues decreased by 3% year-over-year, primarily due to reduced Precision Guided Munition sales in Asia Pacific, offset by increased sales in Israel [5]. - C4I and Cyber revenues increased by 14%, driven by sales of radio systems and command and control systems in Europe [5]. - Land revenues surged by 41%, mainly due to ammunition and munition sales in Israel and Europe [5]. - Elbit Systems of America revenues decreased by 2%, attributed to lower sales in electronic systems and medical instrumentation [5]. Order Backlog and Market Demand - The order backlog reached $25.2 billion as of September 30, 2025, with approximately 69% of this backlog from international orders [14]. - The ongoing global conflicts and increased defense budgets have led to heightened demand for Elbit Systems' products, particularly from the Israel Ministry of Defense [16]. Operational Challenges - The company faced operational disruptions due to supply chain constraints and increased transportation costs stemming from conflicts in the Middle East [17]. - Elbit Systems has implemented measures to mitigate these disruptions and maintain business continuity [18]. Recent Developments - On November 17, 2025, Elbit Systems signed a strategic international contract valued at approximately $2.3 billion, to be executed over eight years [19]. - The Board of Directors declared a dividend of $0.75 per share, with a record date of December 22, 2025 [20].