Elbit Systems Reports Impact on its Fourth Quarter 2023 Financial Results Due to Non-Cash Expenses
Elbit Systems Ltd. - Ordinary Shares (ESLT)
Last elbit systems ltd. - ordinary shares earnings: 3/25 04:11 am
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US:NASDAQ Investor Relations:
ir.elbitsystems.com
Company Research
Source: PR Newswire
HAIFA, Israel , March 5, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it expects to record non-cash expenses of approximately $52 million in the fourth quarter of 2023. The expenses are related to the write-off of inventory due to the closing of an underperforming subsidiary with limited synergies to the Company, and of contract assets related to a discontinued project managed under the subsidiary.Approximately $34 million of the expenses are related to an uncollectible balance of contract assets under the discontinued project. These expenses will be recorded in the "general and administrative" line item in the consolidated statement of income.Approximately $18 million of the expenses are related to the restructuring and discontinuing of the subsidiary's activities. The restructuring expenses will be recorded in the "cost of revenues" line item in the consolidated statement of income and will be eliminated
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- Elbit Systems Ltd. (NASDAQ:ESLT) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- ELBIT SYSTEMS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTSPR Newswire
ESLT
Earnings
- 3/26/24 - Beat
ESLT
Sec Filings
- 4/17/24 - Form 6-K
- 4/1/24 - Form 6-K
- 3/28/24 - Form 6-K
- ESLT's page on the SEC website