Elbit Systems Q4 Profit Down, Revenues Rise; Declares Dividend

(RTTNews) - Elbit Systems Ltd. (ESLT), an Israeli military technology company and defense contractor, reported Tuesday that its fourth-quarter net income attributable to the shareholders was $30.0 million, down from last year's $85.3 million.

Earnings per share declined to $0.67 from prior year's $1.91.

Adjusted net income was $69.7 million, compared to $76.1 million in the fourth quarter of 2022. Adjusted earnings per share were $1.56, compared to prior year's $1.71.

Revenues in the fourth quarter of 2023 were $1.63 billion, as compared to $1.51 billion in 2022. Aerospace revenues increased by 3 percent.

Backlog of orders for the year 2023 totaled $17.8 billion, as compared to $15.1 billion as of December 31, 2022. Approximately 72 percent of the current backlog is attributable to orders from outside Israel. Around 60 percent of the current backlog is scheduled to be performed during 2024 and 2025.

Further, the Board of Directors declared a dividend of $0.50 per share. The dividend's record date is April 24, and will be paid on May 6.

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