Elbit Systems order backlog hits $32 billion amid global defense boom

Elbit Systems reported a record $32 billion order backlog in Q2 2026, up 33% year-over-year. Sales rose 16% to $2.3 billion, and net profit jumped 40% to $173.6 million. Sales to the Defense Ministry grew to 37% of activity, driven by munitions, drones, and intelligence systems. CEO Bezhalel Machlis noted strong demand from abroad and addressed a port incident and Defense Ministry debt.

Elbit Systems reported another record quarter, with its order backlog reaching an all-time high of $32 billion, a 33% increase from $23.8 billion a year earlier. The company's second-quarter sales rose 16% to $2.3 billion, putting it on track for annual sales of $9 billion. Net profit jumped 40% to $173.6 million, and earnings per share stood at $3.61, up from $2.69. Sales to the Defense Ministry continued to grow, reaching 37% of the company's activity, driven by munitions, drones, and intelligence systems. Increased sales of radio and command-and-control systems in Europe drove profits, with C4I and cyber sales up 11% and intelligence and electronic warfare sales up 22%. Land systems sales rose 32% thanks to munitions sales in Israel, while drone sales fell 8% due to an unfavorable project mix. CEO Bezhalel Machlis said most new orders are from abroad, highlighting interest in the airborne laser. He also addressed a report of a container held up at a port, saying it was being investigated, and noted the Defense Ministry has yet to settle its debt with the company.