Elbit Systems (ESLT) reported Q2 non-GAAP earnings Tuesday of $4.14 per diluted share, up from $3.23 a year earlier.

Four analysts polled by FactSet expected $3.73.

Revenue for the quarter ended June 30 was $2.29 billion, up from $1.97 billion a year ago. Three analysts expected $2.25 billion.

The company's order backlog stood at $32 billion as of June 30, with Europe driving the quarterly increase; 73% is from orders outside Israel, while 42% is expected to be executed during the remainder of 2026 and 2027.