Elbit Systems Reports Strong Q2 Results as Airborne Laser Advances
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.