Israel's Elbit Systems Q1 profit dips, revenue up
WORLD 24 May 2022 - 16:55
sraeli defence electronics firm Elbit Systems (ESLT.TA) on Tuesday reported lower first-quarter profit, attributing the drop to stock price-linked compensation plans, while revenue rose.
The company earned $1.19 per diluted share in the quarter, compared to $1.64 per share the previous year. Revenue climbed to $1.35 billion from $1.12 billion, Reuters reports.
The company's board declared a dividend of $0.50 per share for the first quarter, to be paid on July 11.
Excluding one-time items, Elbit earned $1.22 per diluted share in the first quarter, versus $1.72 a year earlier.
Elbit's Tel Aviv-listed shares are up 36% this year.
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