Elbit Systems order backlog hits $32 billion amid global defense boom

Elbit Systems reported a significant increase in sales and profit for the second quarter, with sales rising 16% to $2.3 billion and net profit jumping 40% to $173.6 million. The company's order backlog reached a record $32 billion, a 33% increase from the previous year, driven by global conflicts and demand for defense products.

• Sales to Israel's Defense Ministry accounted for 37% of activity, primarily in munitions, drones, and intelligence systems.
• Increased sales of radio and command-and-control systems in Europe, and land- and airborne high-power laser systems in the Asia-Pacific region, contributed to growth.
• CEO Bezhalel Machlis noted, "Most of the new orders are from abroad, which indicates the demand and interest in our products."
• Machlis also addressed a reported container delay, stating it was under investigation, and mentioned ongoing discussions with the Defense and Finance ministries regarding the Defense Ministry's outstanding debt to Elbit.