Elbit Systems (ESLT) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jun 02, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

2.94

Last Year’s EPS

2.35

Same Quarter Last Year

Analyst Consensus

Hold

Based on 3 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 17, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a strongly positive operating and financial performance: double-digit revenue growth, record backlog and free cash flow, expanding margins, sizable contract wins (including advanced directed-energy programs), and a planned CapEx ramp to address capacity. Challenges include a Q4 aerospace revenue decline, near-term capacity and supply-chain pressures, working capital build, and timing uncertainty for some large international opportunities. Overall, the positives (broad-based growth, margin expansion, record backlog and cash generation, and large strategic contract awards) outweigh the lowlights.

Company Guidance

Management's guidance focused on capacity and investment to convert a record $28.1 billion backlog (up ~$5.5 billion year‑over‑year; ~72% from outside Israel; ~54% scheduled for 2026–27) into continued double‑digit growth rather than specific revenue targets: they plan to increase CapEx to ~ $300 million in 2026 (up from $225 million in 2025 and ~ $200 million average over the past five years) to expand factories (including Ramat Beka, with deliveries expected to begin soon) and ammunition and electronics production (some capacity co‑funded by customers); this build‑out is supported by strong cash generation (operating cash flow $778 million in 2025, free cash flow $553 million, +73% YoY) and sustained R&D investment (> $0.5 billion total; net R&D $517 million or 6.5% of revenues), with Europe (27% of 2025 revenues) flagged as a primary growth engine and a $1.00 per‑share dividend declared.

Record Revenue Milestones

Q4 2025 revenues increased 11% to $2.149 billion (first quarterly result > $2.0B). Full year 2025 revenues rose 16% to $7.939 billion from $6.828 billion in 2024.

Strong Segment Growth

Q4 segment performance: C4I & Cyber +19% (driven by radios and C2 systems), ISTAR & EW +39% (maritime and electro-optic, EW and counter-UAS), Land +22% (ammunition/munitions sales), Elbit Systems of America +9%; Aerospace declined -14%.

Expanded Profitability and Margins

GAAP operating income Q4 $192M (9.0% of revenues) vs $141M (7.3% prior year). Non-GAAP operating income Q4 $210M (9.8%) vs $157M (8.2%). Full year non-GAAP operating income $737M (9.3%) vs $550M (8.1%). Gross margins improved: GAAP Q4 24.7% vs 24.1%; non-GAAP Q4 25.0% vs 24.5%.

Significant EPS Expansion

GAAP diluted EPS Q4 $3.52 vs $2.00 prior-year quarter; non-GAAP diluted EPS Q4 $3.56 vs $2.66. Full year GAAP EPS $11.39 vs $7.18 and non-GAAP EPS $12.75 vs $8.76.

Record Backlog and International Diversification

Backlog grew to $28.1 billion, up ~$5.5 billion year-over-year (~24% YoY backlog growth). Approximately 72% of backlog from outside Israel; 54% of backlog scheduled for 2026-2027.

Material Free Cash Flow and Operating Cash Generation

Net cash from operating activities $778M in 2025 vs $535M in 2024. Free cash flow delivered $553M, up 73% from $320M in 2024.

Major Contract Wins and Technology Milestones

Secured IMOD contracts for airborne high-power laser fighter pod and helicopter solutions; won largest-ever international strategic contract (~$2.3B) and an earlier $1.6B European award. PULS launcher backlog exceeded $2B; multiple EW, DIRCM and Active Protection (Iron Fist) wins including NATO CV90 and U.S. Army Bradley follow-ons.

Capital Allocation and Dividend Increase

Board declared a $1.00 per share dividend (increase). Company invested $225M CapEx in 2025 and plans ~ $300M CapEx in 2026 to expand capacity; sustained R&D investment with net R&D expenses $517M (6.5% of revenues).

Improving Financial Efficiency

Financial expenses decreased to $138M in 2025 from $151M in 2024 (lower interest and debt). Effective tax rate declined to 9.9% from 11.4% due to valuation allowance releases and tax settlements.

Elbit Systems (ESLT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ESLT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jun 02, 2026	2026 (Q1)	2.94 / -	2.35	―	―	―
Mar 17, 2026	2025 (Q4)	2.82 / 3.52	2	76.00% (+1.52)
Nov 18, 2025	2025 (Q3)	2.45 / 2.80	1.77	58.19% (+1.03)
Aug 13, 2025	2025 (Q2)	2.41 / 2.69	1.76	52.84% (+0.93)
May 20, 2025	2025 (Q1)	2.15 / 2.35	1.65	42.42% (+0.70)
Mar 18, 2025	2024 (Q4)	1.78 / 2.00	0.67	198.51% (+1.33)
Nov 19, 2024	2024 (Q3)	1.72 / 1.77	1.36	30.15% (+0.41)	―
Aug 14, 2024	2024 (Q2)	1.53 / 1.76	1.4	25.71% (+0.36)
May 28, 2024	2024 (Q1)	1.19 / 1.65	1.4	17.86% (+0.25)
Mar 26, 2024	2023 (Q4)	1.32 / 0.67	1.91	-64.92% (-1.24)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ESLT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 17, 2026	$873.55	$1013.23	+15.99%
Nov 18, 2025	$502.00	$502.82	+0.16%
Aug 13, 2025	$435.49	$459.87	+5.60%
May 20, 2025	$403.28	$404.71	+0.36%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.