Elbit Systems Shares Edge Higher After 3Q Profit, Rev Rise

Dow Jones11-20

By Sabela Ojea

Shares of Elbit Systems on Tuesday rose after the company logged a jump in profit in the third quarter, after seeing growth across all regions.

The stock was up 6.4% to $250.20 in morning trading. Shares have jumped 23% over the past 12 months.

The high technology defense company posted a net income of $79.1 million, or $1.77 a share, compared with $60.7 million, or $1.36 a share, for the same period a year earlier.

Revenue rose to $1.72 billion, up from $1.5 billion in the prior-year quarter.

Chief Executive Bezhalel Machlis said the results were marked by substantial growth across key performance measures exceeding its internal goals.

"The company's order backlog, which hit a record high of over $22 billion, provides stability and resilience for the Company for years to come, as our investments in research and development create strong foundations for long-term growth and development," Machlis said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

November 19, 2024 11:47 ET (16:47 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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