Elbit Systems Ltd. (NASDAQ:ESLT) shares are trading higher in the premarket on Tuesday after the company reported better-than-expected fourth-quarter 2024 results and raised the quarterly dividend to $0.60/share.

The revenue for the quarter grew 18.7% year-over-year to $1.93 billion, beating the consensus of $1.78 billion. Adjusted EPS rose to $2.66 from $1.56 a year ago, beating the consensus of $1.95.

Segment revenues YoY: Aerospace $641 million (+27.3%), C4I and Cyber $201.7 million (+6.9%), ISTAR and EW $329.2 million (+7.9%), Land $474.8 million (+28.5%) and Elbit Systems of America (ESA) $432.1 million (+5.5%).

Adjusted gross margin contracted to 24.5% from 25.3% a year ago, and adjusted operating margin expanded to 8.2% from 6.4% in the same quarter last year.

As of December 31, 2024, the order backlog rose to $22.6 billion from $17.8 billion a year earlier, with 65% from outside Israel and 57% scheduled for 2025–2026.

ESLT’s cash provided by operating activities for the fiscal year totaled $534.61 million, up from $113.71 million a year ago.

Dividend: The company increased its quarterly dividend to $0.60 per share from $0.50, payable on May 5 to the shareholders of record on April 22.

“Elbit Systems reports a solid set of annual and quarterly results today with a fourth consecutive quarter of double-digit growth in revenues and backlog year-over-year. In addition to these strong metrics Elbit Systems generated $320 million in free cash flow. The company has secured significant contracts worldwide, with its advanced technologies achieving major successes and milestones alongside investments in R&D and production infrastructure. Our global presence and diversified portfolio position us well to capture increasing global defense budgets,” commented Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems.

Price Action: ESLT shares are up 6.40% at $ 392.90 premarket at the last check Tuesday.