© Reuters
By Sam Boughedda
Investing.com — Elbit Systems Ltd (NASDAQ:) shares tumbled 8.89% on Tuesday after it reported its earnings for the fourth quarter and full year.
Fourth-quarter earnings included revenue of $1.49 billion, beating the $1.44 billion expected by analysts. Earnings per share came in at $2.14, beat analyst expectations of $2.03 but dipped from the $2.38 reported in the fourth quarter of 2020.
Full-year revenue was $5.28 billion, representing over 13% growth in comparison to 2020.
According to the defense electronics company, the majority of its revenue came from Airborne systems and C4ISR systems areas of operation.
“2021 was a solid year for Elbit Systems, and the financial results indicate the sustained demand for our products and systems from customers around the world,” commented Bezhalel Machlis, president and CEO of Elbit Systems.
The company also reported a fourth-quarter dividend payment of 50 cents per share on April 25th.
The stock has made solid gains in 2022, rallying 23.42%.
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