- Elbit Systems Ltd ESLT reported fourth-quarter FY21 revenue growth of 8.5% year-over-year to $1.49 billion, beating the consensus of $1.26 billion.
- Revenues by segments: Airborne systems $568.2 million (+18.3% Y/Y), C4ISR systems $400.9 million (+3.8% Y/Y), Land systems $353.1 million (+3.2% Y/Y), Electro-optic systems $118 million (+1.4% Y/Y) and Others $54.1 million (+2.5% Y/Y)
- Adjusted gross margin declined 80 bps to 25.5%, and adjusted operating margin contracted by 30 bps to 8%.
- Adjusted EPS was $2.14, beating the consensus of $1.89.
- ESLT's net cash provided by operating activities for FY21 totaled $416.93 million, compared to $278.83 million in FY20.
- The company held cash and equivalents of $260 million as of December 31, 2021.
- Most recently, the company has secured contracts with an aggregate value of ~$130 million to deliver an artillery munitions production line in a country in Asia-Pacific. The company will perform the contracts over 2.5 years.
- Related: Elbit Systems Secures $27M Contract For NATO Compliant Tank Ammunition
- Dividend: The Board declared a dividend of $0.50 per share for the quarter, payable on April 25, 2022, to shareholders of record on April 11, 2022.
- Price Action: ESLT shares are trading lower by 8.48% at $216.73 on the last check Tuesday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.