U.S. Markets close in 3 hrs 32 mins
  • S&P 500

    4,395.64
    +41.45 (+0.95%)
     
  • Dow 30

    34,258.32
    +338.48 (+1.00%)
     
  • Nasdaq

    14,896.85
    +150.45 (+1.02%)
     
  • Russell 2000

    2,218.56
    +32.38 (+1.48%)
     
  • Crude Oil

    70.51
    -0.05 (-0.07%)
     
  • Gold

    1,768.40
    -9.80 (-0.55%)
     
  • Silver

    23.03
    +0.46 (+2.05%)
     
  • EUR/USD

    1.1696
    -0.0034 (-0.2924%)
     
  • 10-Yr Bond

    1.3360
    +0.0120 (+0.91%)
     
  • Vix

    20.87
    -3.49 (-14.33%)
     
  • GBP/USD

    1.3619
    -0.0045 (-0.3282%)
     
  • USD/JPY

    109.7800
    +0.5600 (+0.5127%)
     
  • BTC-USD

    42,214.23
    -1,532.02 (-3.50%)
     
  • CMC Crypto 200

    1,089.55
    +49.07 (+4.72%)
     
  • FTSE 100

    7,083.37
    +102.39 (+1.47%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

Elbit Systems Q3 profit slips on COVID-19 charges

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

JERUSALEM, Nov 24 (Reuters) - Israeli defence electronics firm Elbit Systems reported lower quarterly profit hit by one-time charges due to the coronavirus pandemic.

The maker of drones, pilot helmet displays and cyber security systems said on Tuesday it earned 38 cents per diluted share in the third quarter, down from $1.63 a year earlier. Revenue rose to $1.13 billion from $1.1 billion.

Excluding non-cash expenses related to impairment of assets and inventory write-offs due to COVID-19 totalling nearly $60 million, and other one-time items, Elbit earned $1.64 in the July-September period, versus $1.33 a year earlier.

It was forecast to earn $1.54 a share on revenue of $1.18 billion and $1.60 ex-one off items, according to I/B/E/S data from Refinitiv.

Its backlog of orders rose to $10.9 billion at the end of the quarter from $9.8 billion a year earlier.

The company declared a dividend of 44 cents per share for the third quarter, the same as the second quarter. (Reporting by Steven Scheer)