To make this website work, we log user data. By using Shephard's online services, you agree to our Privacy Policy, including cookie policy.

×
Open menu Search

Elbit posts Q2 sales and order growth

13th August 2021 - 14:00 GMT | by The Shephard News Team

RSS

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.

The Shephard News Team

Author

The Shephard News Team


As part of our promise to deliver comprehensive coverage to Premium News and Defence Insight …

Read full bio

Share to

Linkedin