BRUSSELS (dpa-AFX) - Elbit Systems Ltd. (ESLT, ESLT.TA), an Israel-based military technology company, reported Wednesday higher profit and revenues in its second quarter.
Separately, Elbit Systems announced that is has been awarded $1.635 billion contract to deliver a range of defense solutions to an unnamed European country. The Implementation of the contract is expected to span over a 5-year period.
The contract includes two groups of technologically advanced solutions from Elbit Systems, which are based on its cutting-edge technologies and portfolio and include embedded AI technology, among others.
In the first group, the company will provide long-range precision strike artillery-rocket systems and a broad-spectrum of unmanned reconnaissance and loitering aerial combat systems, from operational to tactical ranges, including personally operated drones.
In the second group, among others, the firm will offer highly sophisticated ISTAR capabilities, including SIGINT, COMINT and electronic warfare systems. It also includes enabled intelligence collection and processing systems, along with advanced electro-optical (E/O) and night-vision systems, combat vehicle upgrade, and protective systems.
Further, the company's Board of Directors declared a dividend of $0.75 per share, with record date of October 14, and payable on October 27.
In its second quarter, Elbit Systems' net income attributable to the shareholders climbed to $125.70 million from $78.37 million last year.
Earnings per share were $2.69, as compared to $1.76 in the second quarter of 2024.
Adjusted attributable net income was $151.0 million, compared to $92.7 million a year ago. Adjusted earnings per share were $3.23 for the second quarter, compared to $2.08 last year.
Revenues in the second quarter climbed to $1.97 billion from prior year's $1.63 billion.
Aerospace revenues increased 12 percent mainly due to increased Precision Guided Munition or PGM sales in Israel and Asia Pacific and UAS sales in Europe.
C4I and Cyber revenues increased 21 percent, mainly due to radio systems and command and control systems sales in Israel and Europe.
The Company's order backlog as of June 30 totaled $23.8 billion. Approximately 68 percent of the current backlog is attributable to orders outside of Israel.
Around 46 percent of the order backlog is scheduled to be performed during the remainder of 2025 and 2026.
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