Elbit Sys Ltd Stock Price, News & Analysis

Elbit Systems Ltd. (NASDAQ: ESLT) will release its first quarter 2022 financial results on May 24, 2022. A conference call is scheduled for 9:00am ET on the same day, where management will discuss the results and answer questions. Dial-in numbers for participation are provided for various regions. Elbit Systems operates in defense and cybersecurity, offering a range of technology solutions and support services. Detailed forward-looking statements emphasize potential risks and uncertainties impacting future performance.

Elbit Systems Ltd. (NASDAQ: ESLT) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021. This report was submitted to the U.S. Securities and Exchange Commission, the Israel Securities Authority, and the Tel Aviv Stock Exchange. Shareholders can access the report via the company's website or request a hard copy for free. Elbit Systems is engaged in defense and technology sectors, including aerospace, naval systems, and cyber-based solutions, contributing to both defense and homeland security programs.

Elbit Systems Ltd. (NASDAQ: ESLT) reported strong financial results for 2021, with revenues of $5.3 billion, a 13% year-over-year increase, and a backlog of orders reaching $13.7 billion. Non-GAAP net income stood at $368 million, translating to a non-GAAP EPS of $8.30. Despite a one-time tax expense of approximately $80 million, GAAP net income was $274 million. The company highlighted growth in its Airborne and C4ISR systems, particularly due to acquisitions like Sparton Corporation. Elbit's resilient performance amid the pandemic and substantial contracts forecast continued demand in the defense sector.

On March 27, 2022, Elbit Systems Ltd. (NASDAQ:ESLT) announced contracts valued at approximately $130 million to develop an artillery munitions production line in the Asia-Pacific region. The project will last for 2.5 years and involves constructing a turnkey industrial complex for enhanced munitions manufacturing. CEO Bezhalel Machlis emphasized the contracts' reflection on the company's quality portfolio and technological capabilities in international partnerships.

Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $27 million contract from the Swedish Defence Material Administration to supply M339 rounds and Data Setting Units for Leopard Main Battle Tanks. This contract is set to be executed over ten months and aims to enhance the firepower of the Swedish Armed Forces' tanks, which are compliant with NATO standards. The M339 is described as high-accuracy, multi-purpose ammunition suitable for all NATO 120mm smooth bore gun MBTs. This selection reflects growing recognition of the quality of Elbit's product portfolio.

Elbit Systems of America and KMC Systems have partnered with Aza Technology Inc. to develop a rapid blood ammonia detector. This device, the Rapid Ammonia Monitoring Device (AMD), has received FDA Breakthrough Device designation for point-of-care measurement, crucial for detecting hyperammonemia to prevent serious health issues. KMC will assist in seeking FDA approval and manufacturing the AMD, which aims to significantly reduce ammonia testing times from hours to minutes. This collaboration highlights a commitment to innovative healthcare solutions.

Elbit Systems Ltd. (NASDAQ: ESLT) will release its fourth quarter and full year 2021 financial results on March 29, 2022. The Annual Report on Form 20-F will be filed in April 2022. A conference call will be held on the same day at 9:00 AM Eastern Time for management to discuss results and answer questions. Investors can access the call through various dial-in numbers or via live webcast. An investor conference will also take place in Israel, streamed live with English translation. The event's recording will be available post-event.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a one-time expense of approximately $80 million due to a recent amendment in Israeli law regarding tax on exempt earnings. This expense will be recorded in the fourth quarter of 2021 financial results, set for release in March 2022. The law amendment allows reduced corporate tax on selected accumulated income, affecting future dividend withholding tax rates, estimated at 17%. The tax payment is planned for 2022.

Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $16 million contract to develop a space telescope for the Weizmann Institute of Science as part of Israel's Ultraviolet Transient Astronomy Satellite (ULTRASAT) program. This contract spans two years and aims to enhance understanding of deep space phenomena, including black holes and supernovas. The project is collaboratively managed with the Israeli Space Agency and the German DESY research center. Elbit Systems brings extensive experience in providing advanced space technologies for various international programs.