Elbit Systems reported second quarter 2026 results that significantly exceeded analyst expectations, driven by record demand for defense electronics and munitions. Revenues grew 16% year-over-year to $2.29 billion, while non-GAAP operating margins expanded by 150 basis points to 10.4% despite ongoing regional geopolitical disruptions.
Key Highlights
- Order backlog reached a record $32.0 billion, well ahead of the $21.5 billion estimate, with 42% scheduled for performance through 2027.
- Land segment revenue surged 32% to $749.5 million, primarily fueled by increased ammunition and munition sales within Israel.
- ISTAR and EW revenues grew 22% due to increased sales of high-power laser and electronic warfare systems in the Asia-Pacific region.