Why Elbit Systems Shares Are Down Today
Portfolio Pulse from Lekha Gupta
Elbit Systems Ltd. (NASDAQ:ESLT) reported first-quarter FY24 revenue of $1.554 billion, beating the consensus of $1.463 billion. Despite this, shares fell 2.89% due to a contraction in adjusted gross margin and flat operating margin. The company declared a $0.50 dividend and secured significant contracts worth over $1 billion.
May 28, 2024 | 4:49 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Elbit Systems Ltd. (NASDAQ:ESLT) reported strong Q1 FY24 revenue and EPS, beating estimates. However, shares fell 2.89% due to a contraction in adjusted gross margin and flat operating margin. The company declared a $0.50 dividend and secured significant contracts worth over $1 billion.
Despite beating revenue and EPS estimates, the contraction in adjusted gross margin and flat operating margin likely led to the decline in share price. The positive news of a dividend and significant contracts was not enough to offset concerns about profitability.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100