Strong Revenue Growth
First quarter revenues were $1.896 billion, up from $1.554 billion in the first quarter of 2024, marking the fourth consecutive quarter of double-digit growth.
Record Order Backlog
The order backlog reached $23.1 billion, which is $2.7 billion higher than the backlog at the end of the first quarter of 2024, with 66% attributable to orders outside Israel.
Free Cash Flow and Operating Cash Flow
Strong free cash flow of $161 million and net cash provided by operating activities at $184 million compared to $6 million cash used in the first quarter of 2024.
Segment Revenue Increases
Aerospace revenue increased by 20%, C4I and Cyber by 12%, ISTAR and EW by 4%, and Land by 48%. Elbit Systems of America revenues increased by 18%.
Positive EPS Growth
GAAP diluted EPS was $2.35, and non-GAAP diluted EPS was $2.57, both showing significant improvement from $1.65 and $1.81, respectively, in the first quarter of 2024.
Major Contracts and Technological Advances
Several major contracts were won, including a $200 million Iron Beam contract and a $100 million digital command center contract. The Iron Beam high-power laser is expected to be operational by the end of 2025.