ESLT Elbit Systems (ESLT) Q3 FY25 earnings call
The thesis is pivoting from Israel wartime demand toward durable European order flow as the ceasefire holds, and management frames record backlog plus structural margin gains (operational excellence, automation, AI, one-ERP) as sustainable rather than cyclical. Aerospace's tether to the U.S. budget caps it to single-digit growth, but UAV, directed-energy and European land demand carry the momentum, with cash conversion and capital returns still improving.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
ESLT operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | This call Sep 2025 Q3 FY25 | Change vs prior quarter |
|---|---|---|---|
| Backlog | $23.8BOur order backlog as of June 30, 2025, was $23.8 billion, $2.6 billion higher than the backlog at the end of the second quarter of 2024 and $626 million higher than the backlog in the first quarter of 2025.Source: earnings call transcript | $25.2BThe order backlog as of September 30, 2025, was $25.2 billion, $3.1 billion higher than the backlog at the end of the third quarter of 2024, and $1.4 billion higher than the backlog in the second quarter of 2025.Source: earnings call transcript | +5.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.