Elbit Systems Sees $52 Million Charge in Q4 Due to Closure of Subsidiary-June 2024-www.financetom.com

Elbit Systems Sees $52 Million Charge in Q4 Due to Closure of Subsidiary

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Elbit Systems Sees $52 Million Charge in Q4 Due to Closure of Subsidiary

Mar 5, 2024 1:47 AM

04:32 AM EST, 03/05/2024 (MT Newswires) -- Elbit Systems ( ESLT ) said Tuesday it expects to book about $52 million in non-cash charges in Q4 2023 related to the closure of an underperforming subsidiary.

The charges consist of approximately $34 million related to an uncollectible balance of contract assets, and about $18 million related to restructuring.

The company plans to include further details about the charges in its Q4 financial results, scheduled for release this month.

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