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Elbit Systems Reports Strong Q2 Results as Airborne Laser Advances

Elbit Systems logoElbit Systems
Sig2.90Sen+6.80Env0.00Soc-1.10Gov0.00

Elbit Systems posted excellent second-quarter results as demand for its defense products stays extremely strong. Europe drove most backlog growth, while revenue from Israel rose 27% year over year to $855 million. The CEO said the company delivered unmanned ships to Israel and other countries and is developing an airborne laser to counter missiles and drones, as ground-based lasers are not expected to be used for years. Shares slid on supply constraints, higher taxes, and valuation.

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