Welcome to our dedicated page for Elbit Systems news (Ticker: ESLT), a resource for investors and traders seeking the latest updates and insights on Elbit Systems stock.
Elbit Systems Ltd. reports developments as a global defense technology company that develops, manufactures, integrates and sustains systems across multiple domains. Its recurring news includes defense contract awards, financial results, annual reporting, and program updates tied to land systems, airborne munitions, rocket artillery, active protection systems, C4I and cyber, ISTAR and electronic warfare, and aerospace applications.
Company updates often reference products and systems such as PULS artillery rocket systems, UT30MK2 turrets, Iron Fist active protection systems, and advanced munitions for defense ministries, armed forces and international customers. Coverage also includes customer support, follow-on sustainment, technology transfer arrangements and geographic activity across Israel, North America, Europe, Asia-Pacific and other markets.
Elbit Systems (NASDAQ: ESLT) announced a $107 million order from its U.S. subsidiary for Enhanced Night Vision Goggle – Binocular (ENVG-B) systems and support for the U.S. Army. Delivery will occur in 2023 and 2024. This order is part of a broader OTA contract from 2020 that could total $442 million. The ENVG-B features advanced night vision and situational awareness tools, allowing soldiers to perform efficiently in low visibility conditions. CEO Bezhalel Machlis highlighted the order as a testament to the quality of their technologies.
Elbit Systems Ltd (NASDAQ:ESLT) has been awarded a $120 million contract by the Royal Thai Navy to supply Hermes™ 900 Maritime Unmanned Aircraft Systems (UAS) and training over a three-year period. This contract includes advanced capabilities such as maritime radar, Electro Optic payloads, and Satellite Communication, enhancing the Navy's operational capacity for maritime missions. The Hermes 900 UAS has been selected by over 20 global customers, showcasing its competitive edge and reliability.
Elbit Systems Ltd (NASDAQ: ESLT) announced an extension of its shelf prospectus by 12 months, now valid until September 29, 2023, as approved by the Israel Securities Authority. The company has not made any decisions regarding a securities offering under this prospectus, nor the terms or timing of any potential offerings. Any offered securities will not be registered under the U.S. Securities Act and may only be offered in Israel unless specified otherwise. This announcement does not constitute a solicitation to buy or sell securities.
Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract worth $80 million to supply unmanned turrets for Armoured Fighting Vehicles in an Asian-Pacific country. This contract, spanning three years, involves providing 30mm-gun unmanned light turrets that enhance situational awareness and target acquisition. Yehuda Vered, General Manager of Elbit Systems Land, highlighted the company's strong position to meet increasing military demands for improved armored platform capabilities. The contract reflects ongoing growth in defense spending globally.
Elbit Systems Ltd (NASDAQ: ESLT) has secured a $76 million contract to supply Electronic Warfare (EW) training capabilities to an Asia-Pacific Air Force. This contract, set to be executed over two years, enhances aircrew training in a comprehensive EW environment. According to Oren Sabag, General Manager of Elbit Systems ISTAR & EW, this initiative is crucial for mission readiness and cost efficiency.
The agreement highlights the growing demand for advanced EW training, as military readiness increasingly relies on sophisticated simulation technologies.
Elbit Systems Ltd. (NASDAQ: ESLT) announced its U.S. subsidiary, Elbit Systems of America, has secured a maximum potential $49 million Indefinite Delivery/Indefinite Quantity (ID/IQ) contract to provide 120mm mortar systems for the U.S. Army. The contract covers five years, starting with an initial delivery order of $10 million over two years. This follows a successful similar contract awarded in 2016, underscoring the company's role as a trusted defense partner.
Elbit Systems Ltd. (NASDAQ: ESLT) announced that its U.S. subsidiary received a $10 million contract from SOSSEC, Inc. to develop an Advanced Low Light Level Sensor (ALLLS) for the U.S. Army's Integrated Visual Augmentation System (IVAS) 2.0. The project supports enhanced soldier situational awareness and will run through 2025 with work conducted in Roanoke, Virginia. This contract showcases Elbit Systems of America's commitment to innovation and meeting U.S. Army needs.
Elbit Systems Ltd. (NASDAQ: ESLT) announced it has secured two significant contracts totaling $240 million for upgrading Main Battle Tanks (MBTs) for an international customer. The contracts consist of a $60 million deal to be delivered over two years and a $180 million contract over four years. These upgrades will enhance the operational capabilities of the tanks through advanced electronics. CEO Bezhalel Machlis noted a growing demand from militaries aiming to enhance their armored platforms.
Elbit Systems Ltd. (NASDAQ: ESLT) reported a strong order backlog of $14.1 billion and revenues of $1.3 billion for Q2 2022. The GAAP net income was $81 million, with a corresponding net EPS of $1.82. Non-GAAP metrics showed a net income of $77 million and EPS of $1.73. Despite minor revenue growth from $1.302 billion in Q2 2021, net income and EPS decreased compared to last year. Operating cash flow for H1 2022 was negative at $133.5 million, influenced by tax payments. Elbit continues to face challenges from the COVID-19 pandemic but maintains a robust cash position.
Elbit Systems Ltd (NASDAQ: ESLT) announced the release date for its second quarter 2022 financial results, set for August 16, 2022. A conference call to discuss these results will occur on the same day at 9:00 AM ET, with management available for Q&A. Interested parties can join via various dial-in numbers or through the company’s website for a live transmission. Elbit Systems operates in defense, homeland security, and commercial sectors, providing advanced technologies and support services.