Elbit Systems Q4 Highlights: Revenue Beat, Bottomline Miss, Labor Cost Inflation Impact & More

Elbit Systems Ltd ESLT reported fourth-quarter FY22 revenue of $1.51 billion, a slight increase of 0.81% year-over-year, beating the consensus of $1.49 billion.
Adjusted gross profit was $387.8 million, compared to $381.1 million in 4Q21, and the margin was 25.7%, up by 25 bps.
Adjusted operating income was $103.1 million, compared to $120.1 million a year ago, and the margin was 6.8%, down from 8% in 4Q21.
Adjusted EPS fell to $1.68 from $2.14 a year ago, missing the consensus of $1.86.
Elbit System's net cash provided by operating activities for the fiscal totaled $240.07 million, compared to cash provided of $416.93 million a year ago.
As of December 31, 2022, the backlog of orders totaled $15.1 billion, ~75% of the current backlog is attributable to orders from outside Israel.
Dividend: ESLT declared a dividend of $0.5 per share for the fourth quarter, payable on May 1, 2023, to the shareholders of record date on April 18, 2023.
The company stated that its 2022 financial results reflect global supply chain disruptions and labor cost inflation. They have accelerated investment in a range of operational initiatives to improve performance.
Price Action: ESLT shares are trading lower by 1.21% at $176.20 premarket on Tuesday.

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