Elbit Systems ( (ESLT) ) has released its Q3 earnings. Here is a breakdown of the information Elbit Systems presented to its investors.
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Elbit Systems is a leading global defense technology company based in Israel, specializing in the development and integration of advanced solutions across multiple domains to address modern battlefield challenges.
In its latest earnings report for the third quarter of 2024, Elbit Systems showcased impressive financial results, with a record order backlog of $22.1 billion and revenues reaching $1.7 billion. The company reported a non-GAAP net income of $99 million and a GAAP net income of $79 million, reflecting strong demand for its products and solutions.
Key performance highlights include a 7% increase in aerospace revenues, driven by heightened sales of Unmanned Aerial Systems (UAS) in Israel, and a notable 24% rise in land revenues from increased sales of ammunition and munitions. Additionally, Elbit Systems of America saw a 17% revenue growth due to increased sales of night-vision systems and medical instrumentation. The company’s non-GAAP operating income improved to $140.7 million compared to the prior year.
Looking ahead, Elbit Systems remains optimistic as it continues to meet the increasing demand from both local and international markets. The company’s strategic investments in research and development are expected to support its growth trajectory, despite the ongoing geopolitical challenges that could impact operations.
With a robust order backlog and a commitment to innovation, Elbit Systems anticipates continuing its positive momentum in the defense sector, leveraging its technological advancements to secure future growth.
