The 10-second takeaway
For the quarter ended June 30 (Q2), Elbit Systems missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share dropped.
Gross margins contracted, operating margins dropped, net margins expanded.
Elbit Systems logged revenue of $676.4 million. The two analysts polled by S&P Capital IQ predicted a top line of $704.9 million on the same basis. GAAP reported sales were 2.2% lower than the prior-year quarter's $691.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.14. The one earnings estimate compiled by S&P Capital IQ averaged $0.98 per share. GAAP EPS of $0.89 for Q2 were 1.1% lower than the prior-year quarter's $0.90 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 28.0%, 100 basis points worse than the prior-year quarter. Operating margin was 6.2%, 140 basis points worse than the prior-year quarter. Net margin was 5.7%, 10 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $718.0 million. On the bottom line, the average EPS estimate is $0.93.
Next year's average estimate for revenue is $2.93 billion. The average EPS estimate is $4.46.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 242 members out of 243 rating the stock outperform, and one members rating it underperform. Among 45 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 45 give Elbit Systems a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Elbit Systems is hold, with an average price target of $44.00.
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