Intel stock extends gains after report of possible U.S. government stake
Investing.com -- Elbit Systems (NASDAQ:ESLT) shares popped around 6% in premarket trading Wednesday after the military technology company reported higher second-quarter revenue and profit on Wednesday, alongside securing a major new defense contract.
Elbit announced it has been awarded a $1.635 billion contract to supply a range of defense solutions to an undisclosed European country, with implementation over five years.
The company’s second-quarter revenue rose 21% year-on-year to $1.9 billion.
On a non-GAAP basis, net profit climbed 63% to $151 million, or $3.23 per share, while earnings per share were $2.69 compared with $1.76 a year earlier.
The company’s order backlog reached $23.8 billion at the end of the quarter, up $700 million from the prior period. About 68% of the backlog comes from customers outside Israel, and roughly 46% is scheduled for delivery in the remainder of 2025 and 2026.