06:37 AM EDT, 08/14/2024 (MT Newswires) -- Elbit Systems' ( ESLT ) second-quarter results rose year over year as higher demand for the Israeli defense electronics company's products and services drove revenue growth across most of its segments.

The company on Wednesday reported adjusted earnings of $2.08 a share for the June quarter, up from $1.65 the year before. Revenue advanced to $1.63 billion from $1.45 billion last year. One analyst polled by Capital IQ expected normalized EPS and revenue of $1.77 and $1.57 billion, respectively.

"Elbit Systems ( ESLT ) demonstrated a 12% year-over-year increase in revenues in the second quarter," Chief Executive Bezhalel Machlis said in a statement. "Our long-term investments in technologies, research and development in collaboration with our key customers, and the expansion of our manufacturing capabilities, enable us to meet our commitments to our customers and to drive the continued growth and focus on profitability."

In the command, control, communications, computers, intelligence surveillance and reconnaissance and cyber business, revenue gained 11% year over year to $187.7 million primarily due to radio systems sales. Aerospace revenue declined to $481.2 million from $487 million in the prior-year quarter.

The land segment jumped 37% to $402.7 million buoyed by ammunition and munition sales growth in Israel. Intelligence, surveillance, target acquisition and reconnaissance and electronic warfare revenue rose 9% to $318.8 million, while the Elbit Systems ( ESLT ) of America division climbed 11% to $392.9 million.

Total operating expenses rose to $273.2 million from $270.6 million last year, according to the company.

Elbit's ( ESLT ) backlog totaled $21.1 billion at the end of June. Roughly 69% of the current backlog consists of orders outside of Israel. Approximately 43% of the backlog is expected to be fulfilled during the remainder of 2024 and in 2025.

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