Welcome to our dedicated page for Elbit Sys news (Ticker: ESLT), a resource for investors and traders seeking the latest updates and insights on Elbit Sys stock.
Elbit Systems Ltd (ESLT) news covers announcements and disclosures from a global defense technology company that develops, manufactures, integrates and sustains multi-domain systems and solutions. The company’s press releases and Form 6-K filings highlight contracts, financial results, corporate actions and operational updates relevant to investors and observers of the aerospace and defense sector.
Recent Elbit Systems news has included contracts for an advanced airborne self-protection electronic warfare suite, including a Direct Infra-Red Counter-Measure (DIRCM) system, to equip a helicopter platform in an Asia-Pacific country. The company has also reported that its PULS rocket artillery system was selected by the Hellenic Armed Forces, subject to commercial negotiations, and that it received contracts from the Israel Ministry of Defense for upgrades to Merkava main battle tanks, including AI-enhanced electro-optical sights and related maintenance and support services.
Other announcements have described a large international contract for a strategic solution, multi-billion-dollar orders from a European country for long-range precision strike artillery-rocket systems, unmanned reconnaissance and loitering aerial combat systems, ISTAR and electronic warfare capabilities, electro-optical and night-vision systems, combat vehicle upgrades and a military digitalization and Network Combat Solution. Elbit Systems also regularly reports quarterly financial results, order backlog figures, capital-raising activities, rating updates from an Israeli rating agency, and corporate governance events such as annual general meeting outcomes.
This ESLT news page aggregates such items so readers can review contract awards, program developments, financial performance updates, securities-related announcements and other company communications in one place. Users researching Elbit Systems stock or the broader defense technology space can use this news feed to track how the company describes its business momentum, operational environment and interactions with customers and capital markets over time.
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.
Elbit Systems Ltd (NASDAQ: ESLT) announced that its Swedish subsidiary won a contract from the Swedish Defence Material Administration to supply Albatross Combat Management Systems for the Royal Swedish Navy. The contract is valued at an amount not material to the company and will be executed over 34 months. The Albatross CMS enhances operational capabilities during mine countermeasures by providing real-time data integration. Elbit Systems expects rising demand for its naval solutions, following other recent contract wins in Europe and Asia Pacific.
Elbit Systems Ltd. (NASDAQ: ESLT) announced the sale of the Power and Control Business of its subsidiary Ferranti Technologies Ltd. to TT Electronics (UK) Plc for approximately $12 million. The transaction is subject to customary adjustments. The remaining operations of Ferranti will be integrated into Elbit Systems UK, focusing on areas like training, simulation, and avionics. This move aligns with the company's strategy to streamline operations and enhance growth in the UK market.
Elbit Systems Ltd. (NASDAQ: ESLT) announced that its Brazilian subsidiary, AEL Sistemas S.A., has secured a contract to supply additional Hermes 900 UAS to the Brazilian Air Force. The contract, which is not material to Elbit's overall financials, will be executed over 16 months and includes the provision of UAS and spare parts. The Hermes 900 UAS has established a presence in 12 countries, showcasing its technological reliability. This aligns with the Brazilian Air Force's mixed fleet operations aimed at enhancing security and monitoring in the Amazon region.
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