Elbit Systems Q1 Earnings Call Highlights

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Elbit Systems (NASDAQ:ESLT) reported a stronger archetypal 4th of 2026, with absorption highlighting double-digit maturation successful revenue, operating nett and net per share, arsenic good arsenic a grounds backlog that surpassed $30 cardinal for the archetypal time.

Kobi Kagan, the company’s main fiscal officer, said first-quarter gross roseate 15.5% to $2.189 billion, compared with $1.896 cardinal successful the archetypal 4th of 2025. He said the quarter’s gross besides exceeded the preceding 4th quarter, reflecting “the beardown request we are witnessing from our cardinal markets.”

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• Elbit Systems Jumps connected Record Earnings and a $1.6B Contract

GAAP operating income accrued to $205.1 million, oregon 9.4% of revenue, from $149.7 million, oregon 7.9% of revenue, a twelvemonth earlier. On a non-GAAP basis, operating income was $222 million, oregon 10.1% of revenue, compared with $165.1 million, oregon 8.7% of revenue, successful the prior-year period.

GAAP diluted net per stock roseate 42% to $3.34 from $2.35, portion non-GAAP diluted EPS accrued 51% to $3.87 from $2.57. Kagan said gross margins expanded owed to standard and merchandise mix, with GAAP gross borderline rising to 25.2% from 24.0% a twelvemonth earlier.

Backlog tops $30 cardinal

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Elbit’s backlog reached $30.2 cardinal arsenic of March 31, 2026, up by much than $7 cardinal from the extremity of March 2025. Kagan said astir 71% of the backlog was generated extracurricular Israel. About 49% of the backlog is scheduled to beryllium performed during the remainder of 2026 and successful 2027, with the remainder scheduled for 2028 and beyond.