Elbit Systems Q2 2026: Record $32B Backlog, Revenue Climbs 16%, EPS Hits $3.61
ESLT sits 86% above its 52-week low of $432.85.
Summary
Elbit Systems posted Q2 2026 revenue of $2.3 billion, a 16% increase, with GAAP diluted EPS of $3.61. The order backlog reached a record $32 billion, and the company declared a $1.00 per share dividend.
Key Events · Earnings and Guidance · ESLT
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Revenue Up 16% to $2.3B
Driven by growth in Land (ammunition and munitions), ISTAR & EW, and C4I & Cyber, Q2 2026 revenue climbed to $2,287.1 million from $1,972.7 million a year ago.
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Record $32B Order Backlog
As of June 30, 2026, the backlog reached $32.0 billion, with 73% from outside Israel and 42% scheduled for delivery in the remainder of 2026 and 2027, providing strong revenue visibility.
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GAAP Diluted EPS of $3.61
GAAP net income attributable to shareholders was $173.6 million, or $3.61 per diluted share, compared to $125.7 million, or $2.69 per share, in Q2 2025. Non-GAAP diluted EPS came in at $4.14.
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Strong Cash Flow Generation
Operating cash flow for the first half of 2026 reached $517.8 million, up from $304.0 million in H1 2025, fueled by higher net income and increased contract liabilities.
Analysis · ESLT · Manufacturing
A 16% year-over-year revenue jump to $2.3 billion and GAAP diluted EPS of $3.61—up from $2.69—underscore a powerful second quarter for Elbit Systems. The backlog swelled to a record $32 billion, locking in long-term visibility, while first-half operating cash flow surged to $517.8 million. Sustained demand from global defense customers, fueled by ongoing Middle East conflicts, drove the results, though the easing of ceasefires has tempered earlier operational disruptions. Confidence in cash generation is further signaled by a declared dividend of $1.00 per share.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 37.9% of the 895 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ESLT was trading at $804.25 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $39.6B. The 52-week trading range was $432.85 to $1,016.06. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.