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Elbit Systems Beats Wall Street’s Profit Expectation (ESLT)

By Warren Paige

Shares of Elbit Systems Ltd. (USA) (NASDAQ: ESLT) gained sharply on Tuesday after the Israeli defense equipment and unmanned aerial vehicles maker handed better-than-expected fiscal second quarter results. The Company attributed to higher sales of unmanned aerial vehicles and intelligence systems for strong performance as well as cost cutting measures. On adjusted basis, the Company reported earnings of $1.19 a share up from $1.14 a share, in the same quarter of last year. Revenue rose to $702.9 million from $676.4 million.

Analysts polled by Thomson Reuters had forecasted earnings of 87 cents a share on revenue of $686 million.

 

August 13th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.