The following is a summary of the Elbit Systems Ltd. (ESLT) Q3 2024 Earnings Call Transcript:
Financial Performance:
Elbit Systems reported a revenue increase of 14% to $1.718 billion in Q3 2024 compared to $1.502 billion in Q3 2023.
Non-GAAP gross margin in Q3 2024 was 24.4%, slightly down from 24.9% in Q3 2023.
Non-GAAP operating income rose to $140.7 million or 8.2% of revenues in Q3 2024, compared to $120 million or 8% in Q3 2023.Non-GAAP diluted EPS was $2.21 in Q3 2024, up from $1.71 in Q3 2023, marking double-digit EPS growth for the second consecutive quarter.
Business Progress:
Elbit Systems expanded production facilities and increased inventory levels to address a growing backlog and supply chain challenges.
Awarded a $335 million contract to supply defense systems to a European customer, including PULS rocket launchers and Hermes 900 UAVs.
Won a high-power laser contract for the Iron Beam air defense system.
Received a new contract to supply the Iron Fist Active Protection System to the US Army's Bradley IFV.
Awarded the 2024 Israel Defense Prize for three separate defense technological systems.
Opportunities:
Elbit Systems' substantial order backlog of $22.1 billion demonstrates potential for continuous growth, with significant planned execution into 2026 and beyond.
Risks:
Increased financial expenses due to elevated interest rates in both the US and Israel posing a risk to the company's cost structure.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
