Elbit beats forecasts: Order backlog at a record $32 billion
The company generated $2.29 billion in revenue and $199 million in profit in the second quarter of the year, beating analyst expectations. According to the company, 73% of its current order backlog comes from abroad.
The defense company Elbit Systems, managed by Bezalel (Butzi) Machlis, concludes the second quarter of 2026 with a further increase in its order backlog to a new record of $32 billion (compared to $28 billion at the end of last year).
Elbit's revenues in the second quarter totaled $2.29 billion, an increase of 16% compared to the same period last year, and on the bottom line, Elbit recorded a profit (Non-GAAP) of $199 million (600 million shekels), a jump of 32%. The adjusted earnings per share on a non-GAAP basis amounted to $4.14 per share. For comparison, analysts on Wall Street expected the company to report revenues of $2.23 billion and a profit of $3.68 per share.
According to Elbit, today 73% of its order backlog comes from outside Israel, and about 42% of it consists of orders expected to be executed by the end of 2027. Elbit further adds that it expects continued growth in demand:
"Since the beginning of the war and the escalation of conflicts in the Middle East, Elbit Systems has experienced a significant and sustained increase in demand for its products and solutions from the Israeli Ministry of Defense compared to pre-war demand levels. This increased demand may continue and generate additional significant orders for the company."
Bezalel (Butzi) Machlis, President and CEO of Elbit Systems, added that "the company continues to invest in research and development with the goal of ensuring the company's future growth. The acceleration in investments in production infrastructure is for expanding operations, improving output, increasing production capacity, and strengthening our ability to supply in large volumes, as well as for converting the order backlog into revenue and growth."
On the other hand, the company notes that it is being harmed by "restrictions imposed by certain countries on engagement with Israel and attacks on some of Elbit Systems' facilities around the world by anti-Israel organizations."
Elbit's stock is currently trading at a valuation of 121 billion shekels, completing a rise of 41% since the beginning of the year and 240% within three years. From the peak it reached last March, the stock has lost 16% of its value.
