Elbit Systems Crushes Q3 Expectations Boosted By Global Defense Demand
Elbit Systems Ltd. (NASDAQ:ESLT) shares are trading higher premarket on Tuesday after it reported third-quarter revenue of $1.718 billion, beating the consensus of $1.608 billion. Segment revenues (year over year): Aerospace $492.2 million, +7%), C4I and Cyber $213.4 million (+13%), ISTAR and EW $323.9 million (+13%), Land $421.8 million (+24%) and Elbit Systems of America (ESA) $416.6 million (+17%). Adjusted gross margin contracted to 24.4% from 24.9% a year ago, and adjusted operating margin