The record backlog of $32B provides multi-year revenue visibility, and the strong cash flow generation supports continued investment. Monitor the conference call for guidance on margin trajectory and the impact of the new Israeli R&D law. The Aerospace segment decline is a watch item, but overall momentum is strong.
Price Chart
Executive Summary
Elbit Systems reported strong Q2 2026 results with revenue of $2,287.1 million, up 16% YoY from $1,972.7 million, and GAAP net income of $173.6 million, up 38% from $125.7 million. The order backlog reached a record $32.0 billion, and operating cash flow for the first half was $517.8 million, up 70% from $304.0 million. The strong performance was driven by broad-based growth across most segments, though Aerospace revenue declined 8% YoY. The company also announced a $1.00 per share dividend and highlighted recent contract awards totaling over $720 million.
Key Facts
- Q2 2026 revenue of $2,287.1 million, up 16% YoY from $1,972.7 million
- GAAP net income of $173.6 million, up 38% YoY from $125.7 million
- GAAP diluted EPS of $3.61, up 34% YoY from $2.69
- Non-GAAP diluted EPS of $4.14, up 28% YoY from $3.23
- Order backlog reached a record $32.0 billion, with 73% from outside Israel
- Operating cash flow for H1 2026 was $517.8 million, up 70% YoY from $304.0 million
- GAAP operating income margin improved to 9.6% from 8.0% YoY
- Declared a dividend of $1.00 per share
- Awarded contracts totaling over $720 million from international and U.S. customers
Financial Impact
Revenue grew $314.4M YoY (+16%), GAAP net income grew $47.9M YoY (+38%), operating cash flow grew $213.8M YoY (+70%)
Risk Factors
- Ongoing Middle East conflicts could disrupt supply chains and operations
- Aerospace segment revenue declined 8% YoY due to unfavorable project mix
- Effective tax rate increased significantly to 16.4% from 5.6% due to OECD Pillar II rules
- Geopolitical tensions may impact international customer orders and contract execution
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001027664-26-000023 |
| Document: coveresltq220266k.htm | 0001027664-26-000023 |
| Document: 0001027664-26-000023-index-headers.html | 0001027664-26-000023 |
| Document: 0001027664-26-000023-index.html | 0001027664-26-000023 |
| Document: 0001027664-26-000023.txt | 0001027664-26-000023 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 7w ago | 6-K | $776.08 $714.40 | ▼ −7.95% | ▼ −6.89% | $696.23 (−10.29%) |
Aug 11, 2026 7w ago | Press Release | $776.08 $714.40 | ▼ −7.95% | ▼ −6.89% | $696.23 (−10.29%) |
Aug 6, 2026 8w ago | Press Release | $857.00 $701.22 | ▼ −18.18% | ▼ −18.78% | $696.23 (−18.76%) |
Jul 20, 2026 10w ago | 6-K | $754.85 $782.84 | ▲ +3.71% | ▼ −0.41% | $696.23 (−7.77%) |
Jul 20, 2026 10w ago | Press Release | $754.85 $782.84 | ▲ +3.71% | ▼ −0.41% | $696.23 (−7.77%) |
Jul 13, 2026 11w ago | 6-K | $735.40 $846.04 | ▲ +15.04% | ▲ +11.86% | $696.23 (−5.33%) |
Jul 13, 2026 11w ago | Press Release | $735.40 $846.04 | ▲ +15.04% | ▲ +11.86% | $696.23 (−5.33%) |
Jul 1, 2026 13w ago | 6-K | $759.98 $769.10 | ▲ +1.20% | ▲ +3.39% | $696.23 (−8.39%) |
May 28, 2026 18w ago | 6-K | $892.63 $715.72 | ▼ −19.82% | ▼ −16.67% | $696.23 (−22.00%) |
May 27, 2026 18w ago | GOVT-CONTRACT | $828.81 $732.71 | ▼ −11.59% | ▼ −9.69% | $696.23 (−16.00%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access