Elbit Systems shares rise after Q1 earnings beat estimates and announcement of a $1.4 billion European defense modernization contract.
Elbit Systems Ltd. (NASDAQ:ESLT) shares are trading higher on Tuesday after the Israel-based company reported upbeat first-quarter results and won a $1.4 billion contract.
Earnings Snapshot
Revenue of $2.19 billion, beating the consensus of $2.16 billion.
Adjusted EPS of $3.87, beating the consensus of $3.37.
Adjusted gross margin expanded to 25.5% from 24.3% a year ago. Also, adjusted operating margin expanded to 10.1% from 8.7% in the same quarter last year.
Elbit Systems Awarded Approximately $1.4 Billion Contract for Extensive Military Modernization Programs for a European Customer
Elbit Systems wins $1.4 billion European military modernization deal | The Jerusalem Post
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