TASE:ESLTAerospace & Defense
Elbit Systems (TASE:ESLT) Stock Commands A Premium On Record Backlog
Elbit Systems stock came into this earnings day already stretched after a strong run, with the shares at ₪2,340 and trading on a rich P/E of 57.4x. The market has been paying up for the story. The question now is whether today’s numbers justify that premium.
The headline is clear. Q2 showed powerful operating momentum for a defense contractor. Revenue reached US$2,287.1m and basic earnings per share came in at US$3.71, with a record US$32b backlog signalling multi year demand. If the share...