Elbit Systems Reports Strong 2024 Financial Results

Elbit Systems ( (ESLT) ) has released its Q4 earnings. Here is a breakdown of the information Elbit Systems presented to its investors.

Elbit Systems, a global leader in defense technology, specializes in developing and delivering advanced solutions across multiple domains, leveraging Israel’s technology ecosystem to address evolving battlefield challenges. The company reported strong financial results for the fourth quarter and full year 2024, with revenues reaching $6.8 billion and a backlog of orders totaling $22.6 billion. Non-GAAP net income was $392 million, while GAAP net income stood at $321 million, showcasing significant growth in revenues and profitability.

Key financial highlights include a 14% increase in annual revenues, driven by substantial growth in the Aerospace and Land segments. The company’s operating income also saw a notable rise, attributed to increased revenues and a positive program mix. Elbit Systems of America turned a previous operating loss into a profit, reflecting improved performance in the U.S. market. The company’s global presence and diversified portfolio have positioned it well to capitalize on rising global defense budgets.

Elbit Systems’ management expressed confidence in the company’s ability to continue capturing opportunities in the defense sector, supported by its robust order backlog and ongoing investments in research and development. The company has experienced increased demand for its products from the Israel Ministry of Defense, particularly in response to recent geopolitical tensions.

Looking ahead, Elbit Systems remains focused on maintaining its growth trajectory by leveraging its technological capabilities and expanding its market presence. The company is committed to addressing global security challenges and delivering value to its customers and stakeholders.