• The company's order backlog stood at a record $25.2 billion.
• Elbit secured a $1.635 billion contract with an undisclosed European country in August for several of its systems.
• It also said that about 69% of the current backlog is attributable to orders outside of Israel.

Israel-based defense firm Elbit Systems' (ESLT) stock rose nearly 6% in premarket trading on Tuesday after the defense firm topped estimates for third-quarter profit.

According to fiscal data, the Israel-based company reported quarterly adjusted earnings of $159.8 million, or $3.35 per share, which exceeded the analysts' expected $2.42 per share. While its revenue of $1.92 billion came in slightly below Wall Street's expectations, it rose more than 11% compared to the year-ago quarter.

Europe Drives Demand

The firm's aerospace revenue fell by 3% in the third quarter compared to the same period a year earlier, primarily due to a decrease in Precision Guided Munition (PGM) sales in the Asia Pacific, partially offset by an increase in PGM sales in Israel. C4I and Cyber revenues increased by 14%, mainly driven by sales of radio systems and command and control systems in Europe.

NATO and its allies have pledged to raise their defense budgets amid pressure from the Trump administration on European countries to do so. Elbit secured a $1.635 billion contract with an undisclosed European country in August for several of its systems, including long-range precision-strike artillery-rocket systems and unmanned aerial and loitering systems.

“These results reflect the significant contracts the company has secured across Europe and from customers worldwide, who continue to choose Elbit Systems' advanced systems amid the ongoing global conflicts and increasing defense budgets,” said CEO Bezhalel Machlis.

Backlog Grows Amid Ceasefire In Gaza

The company's order backlog stood at a record $25.2 billion. Elbit attributed the increase in backlog during the quarter to new European orders. It also said that about 69% of the current backlog is attributable to orders outside of Israel. In October, Hamas and Israel agreed to a ceasefire brokered by the United States.

What Is Retail Thinking?

Retail sentiment on Stocktwits about Elbit was still in the 'bearish' territory at the time of writing.

Elbit stock has gained over 91% this year and has more than doubled in the past year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

MENAFN18112025007385015968ID1110360067