Why Elbit Systems Stock Is Sliding Today

  • Elbit Systems Ltd ESLT reported first-quarter FY22 revenue growth of 21% year-over-year to $1.35 billion, with a significant part of the growth being organic, in addition to the contribution of Sparton.
  • Adjusted gross margin declined 100 bps to 24.6%. Adjusted operating margin contracted to 4.9% from 8.3% in 1Q21.
  • Adjusted EPS fell to $1.22 from $1.72 a year ago.
  • Dividend: ESLT declared a dividend of $0.50 per share, payable on July 11, 2022, to shareholders of record on June 27, 2022.
  • Elbit System's net cash provided by operating activities for Q1 totaled $35.47 million, compared to cash used of $(13.09) million a year ago.
  • The backlog of orders as of March 31, 2022, totaled $13.7 billion, similar to the backlog as of December 31, 2021. Approximately 72% of the current backlog is attributable to orders from outside Israel. ~55% of the backlog is scheduled to be performed during 2022 and 2023.
  • Price Action: ESLT shares are trading lower by 7.47% at $203.56 during the premarket session on Tuesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsDividendsMoversTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!