Q1 2026 Elbit Systems Ltd Earnings Call Transcript
Key Points
- Elbit Systems Ltd (ESLT) reported a strong quarter with double-digit growth in revenues, operating profit, and EPS.
- The company's backlog reached a record $30.2 billion, with significant contributions from international markets.
- Revenues increased by 15.5% year-over-year, driven by strong demand across key markets, particularly in Europe and Israel.
- Elbit Systems Ltd (ESLT) achieved a non-GAAP operating margin exceeding 10%, reflecting strong execution and performance.
- The company is investing in advanced R&D initiatives, including AI capabilities, to support sustainable growth and maintain its leadership position.
- Despite strong financial performance, Elbit Systems Ltd (ESLT) faces increased R&D expenses, which rose to 6.9% of revenues.
- The company experienced a decrease in sales of medical devices, partially offsetting growth in other segments.
- Financial expenses, although reduced, still amounted to $32.2 million in the first quarter.
- The effective tax rate increased slightly to 13% compared to the previous year.
- Elbit Systems Ltd (ESLT) is facing challenges in maintaining cost competitiveness and effectiveness amid rising demand.
Ladies and gentlemen, thank you for standing by. Welcome to Elbit Systems first-quarter 2026 results conference call. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to hand over the call to Daniella Finn, Elbit Systems' VP, Investor Relations. Daniella, please go ahead.
Thank you, Gila. Hello, everyone, and welcome to our first-quarter 2026 earnings call. On the call with me today are Butzi Machlis, President and CEO; Kobi Kagan, CFO; and myself, Daniella Finn, Investor Relations.
Before we begin, I would like to point out that the Safe Harbor statement in the company's press release issued earlier today also refers to the contents of this conference call. I would like to remind all listeners that the conference call today may contain forward-looking statements regarding the company and its subsidiaries' business. Actual future results may differ materially from these forward-looking statements.
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