Key Points – Elbit Systems posted a strong Q1 2026, with revenue up 15.5% to $2.189 billion, GAAP diluted EPS up 42% to $3.34, and non-GAAP diluted EPS up 51% to $3.87.
Operating margins and gross margins also improved, reflecting stronger demand and better product mix. – Backlog hit a record $30.2 billion, up more than $7 billion year over year, and contract awards in the quarter topped $4 billion
Management also announced a new roughly $1.4 billion European modernization contract, reinforcing robust demand across defense markets. – Growth is being driven by Land, C4I/Cyber and electronic warfare, with Europe described as a key growth engine. Elbit is also increasing investment in capacity, R&D and AI, while cash flow improved and the board raised the quarterly dividend to $1 per share. – Defense Dividends: 3 Strong Performers That Are Raising Payouts Elbit Systems (NASDAQ:ESLT) reported a stronger first quarter of 2026, with management highlighting double-digit growth in revenue, operating profit and earnings per share, as well as a record backlog that surpassed $30 billion for the first time. Kobi Kagan, the company’s chief financial officer, said first-quarter revenue rose 15.5% to $2.189 billion, compared with $1.896 billion in the first quarter of 2025.
He said the quarter’s revenue also exceeded the preceding fourth quarter, reflecting “the strong demand we are witnessing from our key markets.” – Elbit Systems Jumps on Record Earnings and a $1.6B Contract GAAP operating income increased to $205.1 million, or 9.4% of revenue, from $149.7 million, or 7.9% of revenue, a year earlier. On a non-GAAP basis, operating income was $222 million, or 10.1% of revenue, compared with $165.1 million, or 8.7% of revenue, in the prior-year period. GAAP diluted earnings per share rose 42% to $3.34 from $2.35, while non-GAAP diluted EPS increased 51% to $3.87 from $2.57.