Elbit Systems posts “solid year”
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Protection firm Elbit Units (TASE: ESLT Nasdaq: ESLT) produced its fourth quarter and complete year 2021 financials this morning.

Fourth quarter revenue totaled $1.5 billion, 8.8% much more than in the fourth quarter of 2020. Non-GAAP running gain for the quarter was $120.1 million (8.% of income), which compares with an operating financial gain of $113.8 million (8.3% of income) in the corresponding quarter of 2020. On a GAAP basis, functioning financial gain for the fourth quarter was $107.3 million (7.2% of income), which compares with $104.6 million (7.6% of earnings) in the corresponding quarter.

On a non-GAAP basis, the corporation posted a quarterly net financial gain of $94.9 million (6.4% of profits), which compares with $105. million (7.6% of revenue) in the corresponding quarter. On a GAAP foundation, web revenue was $8.2 million (.5% of revenue), which compares with $67.8 million (4.9% of revenue) in the corresponding quarter.

For 2021 as a entire, Elbit Units had earnings of $5.28 billion, representing a rise of 13.2% in comparison with revenue in 2020. Functioning earnings for the calendar year on a non-GAAP foundation was $450.8 million (8.5% (8.5% of income), which compares with $390.1 million (8.4% of income) in 2020. On a GAAP basis, running revenue final year was $418.5 million (7.9% of profits), which compares with $325.7 million (7.% of profits) in 2020. The 2020 figure features a $60 million expense for publish downs of assets and stocks since of the coronavirus pandemic.

Web financial gain for 2021 on a non-GAAP basis was $367.6 million (7.% of revenue), which compares with $318.5 million (6.8% of revenue) in 2020. On a GAAP foundation, web income past calendar year was $274.4 million (5.2% of income), which compares with $237.7 million (5.1% of earnings) in 2020.

At the close of 2021, Elbit Programs has an orders backlog of $13.7 billion, up from $11 billion at the conclusion of 2020. 72% of the backlog signifies orders from consumers outside the house Israel. 60% of the backlog is owing to be loaded in 2022 and 2023.

Elbit Units president and CEO Bezhalel Machlis said, “2021 was a solid 12 months for Elbit Methods, and the economical outcomes indicate the sustained desire for our products and solutions and devices from customers all over the planet. Revenues increased by 13% yr in excess of yr to $5.3 billion, and a report backlog of $13.7 billion delivers us with fantastic visibility. “Elbit Systems’ 2021 results are an final result of the important investments we have created in new yrs to establish foremost technological capabilities and grow our positions in important world-wide defense marketplaces to maintain by way of cycle growth. “I imagine that Elbit Devices is well positioned to gain from the growth in the defense sector about the planet.”




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On the Tel Aviv Inventory Trade this morning, Elbit Systems’ share selling price is down by just around 1%. Over the past yr, the firm’s share price tag has risen by almost 65%.

Printed by Globes, Israel business information – en.globes.co.il – on March 29, 2022.

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