Elbit posts Q2 sales and order growth
Elbit Seagull USV. (Photo: Elbit Systems)
The acquisition of Sparton Corporation helped to drive Elbit’s Q2 financial performance.
Elbit Systems reported a 26% increase in its order backlog for Q2 2021, as sales reached $1.3 billion and net profits totalled $102 million.
President and CEO Butzi Machlis described a 21% increase in sales compared with Q2 2020 ($1.08 billion), as the order backlog grew to $13.6 billion.
Net R&D expenses remained the same as a proportion of revenues (7.3%) but increased in real terms from $79 million in Q2 2020 to $95.4 million the following year.
Organic sales growth contributed to the bottom line Q2 2021 but another factor was the $380 million acquisition, completed in April 2021, of US-based Sparton Corporation.
Sparton develops, produces and supplies systems supporting undersea warfare programmes for the USN and allies.
You may also like
More from Defence Notes
-
![US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule]()
US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule
The US government plans to accelerate production even further after achieving key B61-13 milestones months ahead of schedule, as the programme advances amid growing US-China strategic competition.
-
![New UK armed forces minister frames High North defence as vital to “homeland security”]()
New UK armed forces minister frames High North defence as vital to “homeland security”
The UK’s Minister for the Armed Forces Louise Sandher-Jones made her first appearance in the role before the House of Commons Defence Committee this week to highlight efforts to improve capability in the High North.
-
![Canada seeks to strengthen industrial ties with the US on classified programmes]()
Canada seeks to strengthen industrial ties with the US on classified programmes
Ottawa explores expanding defence-industrial cooperation with Washington into sensitive programmes, an approach that could reshape NORAD modernisation, strengthen North American supply chains and create new opportunities for defence contractors.
-
![UK’s latest defence robotics and autonomy competition looks to break new ground]()
UK’s latest defence robotics and autonomy competition looks to break new ground
The UK Ministry of Defence is backing early-stage, high-risk autonomy concepts that could redefine how military systems are developed and deployed.
-
![How AI is reshaping defence procurement through sustainment]()
How AI is reshaping defence procurement through sustainment
Artificial intelligence is not just changing how defence equipment is maintained but how defence programmes are won, creating new opportunities for industry by influencing acquisition decisions and shaping competition.
