Shares of Elbit Systems Ltd (ESLT) surged 9.37% during Tuesday's intraday trading session following the release of the company's fourth-quarter financial results.
The defense technology contractor reported quarterly adjusted earnings of $3.56 per share, surpassing the FactSet consensus estimate of $3.14. Revenue for the quarter rose 11.3% year-over-year to $2.15 billion, also beating analyst expectations. The company attributed the strong performance to higher demand for its defense systems, particularly from the Israel Ministry of Defense, amid ongoing regional conflicts.
Management highlighted significant growth in key segments, including C4I and Cyber, ISTAR and EW, and Land systems, driven by sales in Europe and Israel. CEO Bezhalel Machlis noted that the company continues to benefit from expanding global demand while strengthening its strategic partnerships during current military operations.
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