Eltek (NASDAQ:ELTK) reported a sharp year-over-year decline in first-quarter 2026 results, with management attributing the weaker performance to backlog timing, logistics constraints, raw-material shortages and foreign exchange pressure rather than a change in underlying demand.
Chief Executive Officer Eli Yaffe said revenue for the quarter came in below the company’s expectations, primarily because a larger share of shipments came from older orders booked at lower average pricing levels. He said higher-value programs and more advanced products added recently to the backlog are scheduled for delivery later in 2026 and into 2027.
