Elbit Systems beats analysts, backlog reaches new peak

Elbit Systems reported a record orders backlog of $32 billion at the end of Q2 2026, up from $28 billion at the end of 2025. Revenue rose 16% to $2.29 billion, and non-GAAP net profit increased 32% to $199 million. Adjusted EPS of $4.14 beat consensus estimates of $3.68. The company noted supply chain disruptions due to regional conflicts.

Elbit Systems reported a record orders backlog of $32 billion at the end of the second quarter of 2026, up from $28 billion at the end of 2025. The defense company's revenue for the quarter was $2.29 billion, a 16% increase compared to the same period last year. Non-GAAP net profit rose 32% to $199 million (NIS 600 million), and adjusted earnings per share of $4.14 exceeded the consensus estimate of $3.68. The company said 73% of its backlog comes from outside Israel, with 42% expected to be executed by the end of 2027. CEO Bezhalel Machlis highlighted continued investment in R&D and production infrastructure to support growth. However, the company also noted disruptions from regional conflicts, including supply chain issues, increased transportation costs, and attacks on its facilities. Elbit's market cap stands at NIS 121 billion, with shares up 41% this year but down 5.2% in today's trading.