Stock Track | Elbit Systems Plunges 6.43% in Pre-market Despite Q2 Earnings Beat
Stock Track
Aug 11
Elbit Systems Ltd. (ESLT) shares fell 6.43% in pre-market trading on Tuesday, after the company reported second-quarter results that exceeded analyst expectations.
The defense contractor posted adjusted earnings of $4.14 per share, beating the consensus estimate of $3.70. Revenue climbed 15.9% to $2.29 billion, also topping forecasts. The company has now surpassed earnings estimates for four consecutive quarters.
The decline occurred even as the company delivered strong numbers, with the stock having already surged 46.4% year-to-date, potentially leading to profit-taking by investors.
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