Elbit Systems: Anticipating Q3 2024 Results and Future Growth
Alpha InspirationTuesday, Oct 29, 2024 3:51 am ET
1min readElbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT), a leading global defense technology company, has announced that it will release its third quarter 2024 financial results on Tuesday, November 19, 2024. The company will host a conference call at 10:00 AM Eastern Time to discuss the results and answer questions. This article explores the potential growth and trends that investors can anticipate from Elbit Systems' upcoming financial results.
Elbit Systems' order backlog has evolved significantly since the previous quarter, reaching approximately $21.1 billion as of June 30, 2024. This represents a 12% year-over-year increase in revenues for the second quarter of 2024 compared to the same period in 2023. The growth in the order backlog indicates a strong pipeline of future business and suggests that Elbit Systems is well-positioned for continued growth.
The expected revenue growth rates for each of Elbit Systems' segments in Q3 2024 are as follows:
- Aerospace: Similar to Q2 2024
- C4I and Cyber: 11% increase (mainly due to radio systems sales)
- ISTAR and EW: 9% increase (mainly due to Electronic Warfare and Electro-Optic systems sales in Israel and Asia-Pacific)
- Land: 37% increase (due to the increase in ammunition and munition sales in Israel)
- Elbit Systems of America: 11% increase (due to the increase in Maritime and Warfighter systems)
Research and development expenses, net, were $116.8 million (7.2% of revenues) in the second quarter of 2024, compared to $93.4 million (6.4% of revenues) in the second quarter of 2023. Marketing and selling expenses, net, were $87.7 million (5.4% of revenues) in the second quarter of 2024, compared to $101.7 million (7.0% of revenues) in the second quarter of 2023. These changes reflect Elbit Systems' continued investment in innovation and growth.
The recently awarded $200 million contract for the "Iron Beam" air defense system is expected to have a positive impact on Elbit Systems' financial performance in Q3 2024 and beyond. This contract includes the supply of high-power laser systems and ongoing support services, contributing to the company's order backlog and future revenue streams.
In conclusion, Elbit Systems' upcoming Q3 2024 financial results are anticipated to reflect the company's strong growth and continued investment in innovation. With a robust order backlog and positive trends in its segments, Elbit Systems is well-positioned for future success in the global defense technology market. Investors should closely monitor the company's financial performance and strategic initiatives as it continues to drive growth and create value.
Elbit Systems' order backlog has evolved significantly since the previous quarter, reaching approximately $21.1 billion as of June 30, 2024. This represents a 12% year-over-year increase in revenues for the second quarter of 2024 compared to the same period in 2023. The growth in the order backlog indicates a strong pipeline of future business and suggests that Elbit Systems is well-positioned for continued growth.
The expected revenue growth rates for each of Elbit Systems' segments in Q3 2024 are as follows:
- Aerospace: Similar to Q2 2024
- C4I and Cyber: 11% increase (mainly due to radio systems sales)
- ISTAR and EW: 9% increase (mainly due to Electronic Warfare and Electro-Optic systems sales in Israel and Asia-Pacific)
- Land: 37% increase (due to the increase in ammunition and munition sales in Israel)
- Elbit Systems of America: 11% increase (due to the increase in Maritime and Warfighter systems)
Research and development expenses, net, were $116.8 million (7.2% of revenues) in the second quarter of 2024, compared to $93.4 million (6.4% of revenues) in the second quarter of 2023. Marketing and selling expenses, net, were $87.7 million (5.4% of revenues) in the second quarter of 2024, compared to $101.7 million (7.0% of revenues) in the second quarter of 2023. These changes reflect Elbit Systems' continued investment in innovation and growth.
The recently awarded $200 million contract for the "Iron Beam" air defense system is expected to have a positive impact on Elbit Systems' financial performance in Q3 2024 and beyond. This contract includes the supply of high-power laser systems and ongoing support services, contributing to the company's order backlog and future revenue streams.
In conclusion, Elbit Systems' upcoming Q3 2024 financial results are anticipated to reflect the company's strong growth and continued investment in innovation. With a robust order backlog and positive trends in its segments, Elbit Systems is well-positioned for future success in the global defense technology market. Investors should closely monitor the company's financial performance and strategic initiatives as it continues to drive growth and create value.
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