Shares of Elbit Systems (NASDAQ:ESLT) jumped about 6% in premarket trading Wednesday after the defense technology firm reported higher revenue and profit for the second quarter and announced a significant new contract.
The company revealed it had secured a $1.635 billion deal to provide a range of defense solutions to a European country, with deliveries scheduled over the next five years.
Elbit’s second-quarter revenue increased 21% year-on-year, reaching $1.9 billion.
On a non-GAAP basis, net profit rose 63% to $151 million, equivalent to $3.23 per share, compared with earnings per share of $2.69 versus $1.76 a year ago.
The firm’s order backlog stood at $23.8 billion at the end of the quarter, up $700 million from the previous period. About 68% of the backlog is attributed to clients outside Israel, with roughly 46% expected to be delivered across the remainder of 2025 and 2026.
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