Analyst Consensus ?
ConsensusHold6 ratings
Bullish116.7%
Neutral583.3%
Bearish00.0%
Elbit Systems Ltd. · ESLT · FY2024 Q3 · Calendar Q4 2024
Elbit Systems: Backlog and demand support capacity expansion
The evidence supports a constructive operating outlook: strong demand, a record backlog and new contracts provide growth visibility. The key counterweight is execution—capacity investment, backlog conversion, fixed-price contract economics and progress toward the 10% margin target.
Reported Before market openNASDAQIndustrials
$34.46B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.86
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $1.61B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+6.2%
Event window
SPY move
+0.4%
Same window
Abnormal move
+5.8%
Stock minus SPY
Volume
4.6×
Versus trailing sessions
Subsequent drift
+3.5%
Up to 20 sessions
ESLTSPY benchmark
Ask FN2 about ESLT FY2024 Q3
Transcript, numbers and history already loaded
What drove ESLT's +6.2% move after FY2024 Q3 earnings?What changed in ESLT's guidance and outlook in FY2024 Q3?Give me the bull and bear case for ESLT after FY2024 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Revenue growth accelerated to 14% year over year, backlog rose to a record $22.1 billion, and management highlighted a first near-term Iron Beam contract plus a $335 million European PULS and Hermes-900 contract. Capacity expansion and ERP work remain central to the plan.
Guidance delta
Maintained: management reiterated the $7 billion 2025 revenue target and 10% non-GAAP operating-margin target for 2026.
Key takeaways
- Management reported 14% year-over-year revenue growth to $1.718 billion and double-digit EPS growth.
- Record backlog reached $22.1 billion, improving revenue visibility but requiring execution and conversion.
- High-power lasers, Iron Fist, UAVs and munitions were highlighted as growth areas.
- Production capacity and ERP investment are increasing as management pursues its margin targets.
Management priorities
- Inaugurate a new UAV production facility.
- Expand the Ramat Beka production line and communications lines.
- Complete ERP implementation across the company.
- Pursue strategic acquisitions while divesting non-core assets.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$735.34Current
$790Low
$840Average
$880High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Jefferies | Hold | Hold | Maintain | Oct 5, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Aug 19, 2026 |
| B of A Securities | Buy | Buy | Maintain | Aug 26, 2025 |
| Standpoint Research | Hold | Accumulate | Downgrade | Oct 5, 2017 |
| Citigroup | Neutral | Buy | Downgrade | Jan 2, 2014 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 15, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $735.34. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $850 | $741.61 | +15.6% | Oct 16, 2026 |
| Jefferies | Sheila Kahyaoglu | $790 | $722.83 | +7.4% | Oct 5, 2026 |
| Morgan Stanley | Analyst unavailable | $845 | $736.3 | +14.9% | Jul 15, 2026 |
| Jefferies | Analyst unavailable | $880 | $770.64 | +19.7% | Jun 24, 2026 |
| Jefferies | Sheila Kahyaoglu | $950 | $823.84 | +29.2% | May 27, 2026 |
| Morgan Stanley | Analyst unavailable | $531 | $500.37 | -27.8% | Dec 11, 2025 |
Track every rating change on ESLT the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationHeadquartered in Haifa, Israel, and established in 1966, Elbit Systems Ltd. is a leading provider of advanced solutions for the defense, homeland security, and commercial aerospace sectors. The company's extensive portfolio spans airborne, land, and naval applications. In the aerial domain, offerings include systems for military aircraft and helicopters, commercial aviation components, and unmanned aerial systems. For ground operations, Elbit supplies vehicle systems, a range of munitions, sophisticated command, control, communications, computer, intelligence, surveillance, and reconnaissance (C4ISR) capabilities, and cyber technologies, alongside armored vehicle protection…
Historical context
All ESLT earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FIX Comfort Systems USA, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.2% | -8.5% | Comfort Systems USA: Strong Growth, Record Backlog, Margin Watchpoints |
| BE Bloom Energy Corporation | FY2026 Q3 · Calendar Q4 2026 | +36.0% | -8.7% | Bloom Energy Raises Outlook as AI Power Demand Drives Expansion |
| SNA Snap-on Incorporated | FY2026 Q3 · Calendar Q4 2026 | -5.9% | -3.4% | Snap-on: C&I strength offsets organic sales pressure in Q3 |
| HON Honeywell International Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.6% | +1.7% | Honeywell Raises 2026 Outlook as Backlog and Forge Support Growth |
| LMT Lockheed Martin Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.0% | +7.0% | Lockheed Martin: backlog and guidance rise, with execution risks |
| NSC Norfolk Southern Corporation | FY2026 Q3 · Calendar Q4 2026 | +4.6% | +3.1% | Norfolk Southern posts strong Q3 as capex outlook rises |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the ESLT recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:39:04.055137+00:00
- Polygon adjusted daily market bars · 2026-10-26T04:50:42.425596+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T04:50:42.422881+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.