Elbit CEO in Globes interview says some investors sold shares due to 'political pressures'

seekingalpha08-17

Israel-based defense contractor Elbit Systems (NASDAQ:ESLT) has seen its order backlog swell to more than $21B in the first six months of the year, but that strength in its financial performance has ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2460124056?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1488299226/image_1488299226.jpg","is_english":true,"pubTime":"2024-08-17 01:50","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2460124056","market":"us","top_or_hot":-1,"title":"Elbit CEO in Globes interview says some investors sold shares due to 'political pressures'","media":"seekingalpha","content":"<div>\n<p>Israel-based defense contractor Elbit Systems (NASDAQ:ESLT) has seen its order backlog swell to more than $21B in the first six months of the year, but that strength in its financial performance has ...</p>\n\n<a href=\"https://seekingalpha.com/news/4141152-elbit-ceo-in-globes-interview-says-some-investors-sold-shares-due-to-political-pressures\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elbit CEO in Globes interview says some investors sold shares due to 'political pressures'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElbit CEO in Globes interview says some investors sold shares due to 'political pressures'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-17 01:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4141152-elbit-ceo-in-globes-interview-says-some-investors-sold-shares-due-to-political-pressures><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Israel-based defense contractor Elbit Systems (NASDAQ:ESLT) has seen its order backlog swell to more than $21B in the first six months of the year, but that strength in its financial performance has ...</p>\n\n<a href=\"https://seekingalpha.com/news/4141152-elbit-ceo-in-globes-interview-says-some-investors-sold-shares-due-to-political-pressures\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ESLT","symbol_name":"埃尔比特系统","start_time":0,"source_url":"https://seekingalpha.com/news/4141152-elbit-ceo-in-globes-interview-says-some-investors-sold-shares-due-to-political-pressures","article_id":"2460124056","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1488299226/image_1488299226.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2460124056","pubTimestamp":1723830603,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Israel-based defense contractor Elbit Systems (NASDAQ:ESLT) has seen its order backlog swell to more than $21B in the first six months of the year, but that strength in its financial performance has n","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ESLT":"埃尔比特系统","BNS":"丰业银行","BK4187":"航天航空与国防","BK4207":"综合性银行","BK4516":"特朗普概念"},"translate_title":"埃尔比特首席执行官在接受《环球报》采访时表示，一些投资者因“政治压力”而出售股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BNS":1,"ESLT":1},"content_text":"Israel-based defense contractor Elbit Systems (NASDAQ:ESLT) has seen its order backlog swell to more than $21B in the first six months of the year, but that strength in its financial performance has not reflected into gains for the stock, which is down nearly 7% in 2024.  Elbit's (ESLT) revenue and backlog has been partly boosted by the ongoing conflict in Gaza, with sales from Israel contributing to 27% of the company's second quarter revenue. However, top boss Bezhalel Machlis said that the war had also affected the company \"negatively\" by exerting pressure on investors. \"Some investors, fortunately only a few, experienced political pressures of some sort and decided to sell, for example the Canadian fund that sold a large number of shares and pushed the share price down. In the end, I think the trend stopped,\" Machlis said in an interview to Israeli business news website Globes on Wednesday.  The fund that the chief executive was referring to is Bank of Nova Scotia (BNS) unit 1832 Asset Management. The fund has been steadily decreasing its stake in Elbit (ESLT) since last year. At the end of Q3 2023, it held 2.24M shares in the company. Fast-forward to Q2 2024, that number was 641.7K shares, marking a reduction of 71.3% across that period. \"The company's results speak for themselves, and those who invest in Elbit are investing for the long term and believe in an increase in sales, backlog and profit. From a strategic point of view, we are marching forward to continue growth in these parameters, and growth is not a one-off event but a trend,\" Machlis said in the interview. The company in its Q2 financial report on Wednesday showed Y/Y revenue growth of nearly 12% to $1.63B, with sales in Israel nearly doubling to $444M. Elbit's (ESLT) order backlog as of June 30 reached $21.1B, an increase of $5B Y/Y. \"Approximately $2.5B of this increase came from Israel,\" ESLT finance chief Yaacov Kagan said in the earnings conference call. The CFO added that of the $2.4B in new orders recorded in Q2, $1.1B came out of the Israeli market. Haifa, Israel-based Elbit's (ESLT) lines of business include military aircraft and helicopter systems, training and simulation programs, drones and aero structures. Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion.  More on Elbit Systems  Elbit Systems Ltd. (ESLT) Q2 2024 Earnings Call Transcript Elbit Systems Non-GAAP EPS of $2.08 beats by $0.31, revenue of $1.6B beats by $30M Elbit Systems declares $0.50 dividend Elbit Systems secures $130M contract to supply Iron Fist active protection systems Seeking Alpha’s Quant Rating on Elbit Systems","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2460124056"}