Elbit Systems Ltd. is a leading global defense technology company headquartered in Haifa, Israel, specializing in advanced solutions for military and security applications. The company develops, manufactures, and integrates a broad range of technologies for defense, homeland security, and commercial aviation.

Elbit Systems is in a stable condition, continuing a trend of strong growth in financial metrics. For the first quarter of 2025, the company reported revenues of $1.896 billion, a 22% increase from $1.554 billion in the first quarter of 2024. The order backlog as of March 31, 2025, was $23.1 billion, up $2.7 billion from the previous year.

GAAP gross margin for the first quarter of 2025 was 24% compared to 24.1% in the first quarter of 2024. The non-GAAP gross margin decreased slightly to 24.3% from 24.7% year-over-year. GAAP operating income for the quarter was $149.7 million, or 7.9% of revenues, compared to $105.4 million, or 6.8% of revenues, in the same period last year. Non-GAAP operating income increased to $165.1 million, or 8.7% of revenues, from $121.6 million, or 7.8% of revenues year-over-year.

Net income for the first quarter of 2025 was $102 million, significantly up from $70 million in the first quarter of 2024. GAAP diluted EPS rose to $2.35 compared to $1.65 in the previous year, while non-GAAP diluted EPS increased to $2.57 from $1.81.

Quarterly segment revenue highlights showed aerospace revenue increased by 20%, C4I and Cyber revenues rose by 12%, ISTAR and EW revenue grew by 4%, and land revenue surged by 48%. Elbit Systems of America’s revenues increased by 18%.

Net cash provided by operating activities was $184 million in the first quarter of 2025, up from a negative $6 million in the first quarter of 2024. Free cash flow for the quarter totaled $161 million. The effective tax rate was 13.9% for the first quarter of 2025, down from 14.6% a year earlier.

The Board of Directors declared a dividend of $0.60 per share.