Elbit Systems (NASDAQ: ESLT) reported strong first-quarter results for 2026, achieving a revenue increase of 15.5% to $2.189 billion compared to $1.896 billion in the same quarter of 2025. The company’s GAAP operating income rose to $205.1 million, representing 9.4% of revenue, up from $149.7 million a year earlier. Additionally, GAAP diluted earnings per share (EPS) surged 42% to $3.34.
As of March 31, 2026, Elbit’s backlog reached $30.2 billion, a growth of over $7 billion from the previous year. Notably, Europe contributed 23% to revenue, while Israel accounted for 37%. Major contracts this quarter included a $1.4 billion deal for military modernization and several others totaling more than $4 billion. The company anticipates mid-teens revenue growth for the year.
Net cash provided by operating activities reached $281 million, compared to $184 million in the prior year, and free cash flow increased to $210 million. Following this performance, Elbit announced a dividend of $1 per share, effective July 6, 2026, reflecting a doubling of its previous payout.
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