Elbit Systems thrives on war-driven demand, revenue climbs to $6.8B
Israeli and international orders propel the company’s financial success.
Elbit Systems concluded 2024 with growth in both revenue and order backlog. The defense systems company reported on Tuesday that its revenue for the year grew by 14% to $6.8 billion. About 30% of Elbit's sales were directed to the Israeli market, amounting to $2 billion, driven by the ongoing war.
The company's order backlog increased to $22.6 billion by the end of 2024, compared to $17.8 billion at the end of 2023. Of this backlog, 65% is attributed to international orders, most of which are expected to be fulfilled within the next two years. Net profit surged 49% to $321 million.
Elbit Systems’ president and CEO, Bezalel (Butzi) Machlis, expressed satisfaction with the financial results, stating, "This marks the fourth consecutive quarter of double-digit growth in both revenue and order backlog. In addition to these strong results, we generated free cash flow of $320 million."
