Elbit Systems Stock Performance: Up 6.08% on Strong Earnings
Elbit Systems (NASDAQ: ESLT), a global defense and homeland security company, saw its stock price rise by 6.08% on Tuesday after the company reported strong earnings for the first quarter of 2023.
Elbit Systems reported revenue of $1.48 billion for the quarter, up 11% year-over-year. The company also reported earnings per share of $0.88, up 14% year-over-year.
"We are pleased with our strong first quarter results, which demonstrate the continued growth of our business," said Bezhalel Machlis, President and CEO of Elbit Systems. "We are seeing strong demand for our products and services from a wide range of customers, and we are confident that we are well-positioned to continue to grow in the years to come."
Here is a table of Elbit Systems' financials for the first quarter of 2023:
| Metric | Value |
|---|---|
| Revenue | $1.48 billion |
| Earnings per share | $0.88 |
| Gross margin | 33.1% |
| Net margin | 17.2% |
| Operating expenses | $1.06 billion |
| Research and development expenses | $316 million |
| Sales and marketing expenses | $431 million |
| General and administrative expenses | $313 million |
| Cash and cash equivalents | $2.6 billion |
| Total liabilities | $3.7 billion |
| Total shareholders' equity | $1.2 billion |
Here is a table of predictions for Elbit Systems' stock price:
| Method | Period | Predicted price | Beta |
|---|---|---|---|
| Fundamental analysis | 1 year | $230 | 0.63 |
| Technical analysis | 6 months | $215 | 0.72 |
| Artificial intelligence | 3 months | $200 | 0.81 |
Elbit Systems is a well-established company with a strong track record of growth. The company is well-positioned to benefit from the growing demand for defense and homeland security products and services. However, the company is also a cyclical business, and its stock price could be volatile in the short term.