Elbit Sys Ltd Stock Price, News & Analysis

Elbit Systems Ltd. (NASDAQ: ESLT) announced the results of its Annual General Meeting of Shareholders held on December 14, 2021. The proposed resolutions were approved by the necessary majority. These included the re-election of seven board members for the upcoming term and the re-appointment of Kost, Forer, Gabbay & Kasierer as the independent auditor for the fiscal year ending December 31, 2021. The company continues to operate in defense, homeland security, and commercial sectors, providing a range of technological solutions and support services.

Elbit Systems Ltd. reported a strong performance for Q3 2021, achieving revenues of $1,363.6 million, a 20% increase from the previous year. Gross profit reached $370.7 million (27.2% of revenues), with GAAP net income of $91.9 million ($2.08 per share). The company's backlog stood at $13.6 billion, primarily from overseas orders. Despite challenges posed by COVID-19, Elbit Systems maintained operational continuity and effective cash management. A quarterly dividend of $0.46 was declared, with a record date of December 20, 2021, reinforcing shareholder returns.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract worth approximately $106 million to supply SIGMA self-propelled howitzer gun systems to an Asia-Pacific country. The contract will be fulfilled over five years. SIGMA is a highly automated 155mm artillery system designed for rapid engagement and operational efficiency, featuring advanced loading and aiming capabilities. CEO Bezhalel Machlis emphasized SIGMA’s effectiveness in enhancing artillery performance while reducing life-cycle costs.

Elbit Systems (NASDAQ: ESLT) has secured contracts totaling approximately $74 million from South Korea's Defense Acquisition Program Administration. These contracts will provide airborne munitions as part of the Precision Fires Program for the Republic of Korea Air Force. The work is set to be conducted over a five-year period. Yehuda Vered, General Manager of Elbit Systems Land, highlighted the growing demand for sophisticated munitions.

Elbit Systems (NASDAQ: ESLT) announced a significant contract win valued at approximately $100 million from Babcock International Group Plc to enhance the Royal Navy's Electronic Warfare capabilities. The contract, part of the Maritime Electronic Warfare System Integrated Capability (MEWSIC) Program, spans 13 years and includes in-service support. Elbit Systems UK will develop advanced Electronic Warfare suites to improve situational awareness and missile defense for frontline naval platforms.

Elbit Systems Ltd. (NASDAQ: ESLT) announced that its UK joint venture, Affinity Flying Training Services, secured an approximately $88 million contract from the UK Ministry of Defence. The contract involves the operation of four additional Texan T-6C aircraft as part of the UK Military Flying Training System over a 12-year period. Elbit Systems and KBR each hold a 50% share in Affinity, and the new aircraft will support RAF pilot training, adding to the existing fleet of 10 aircraft already in service.

Elbit Systems Ltd. (NASDAQ: ESLT) will release its third quarter 2021 financial results on November 23, 2021. A conference call will take place at 9:00 AM Eastern Time to discuss the results and answer questions. Investors can participate via designated dial-in numbers or listen to the live broadcast on Elbit's website. Additionally, a replay will be available for two days following the call. The company specializes in defense and security technologies, operating in aerospace, naval systems, and cyber-based systems.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a definitive agreement to sell its subsidiary IMI Systems Ltd.'s shares in Ashot Ashkelon Industries Ltd. to FIMI Opportunity Funds for $88 million. This transaction aligns with Elbit's strategy to concentrate on core business areas. Ashot specializes in aerospace and defense manufacturing. FIMI, a private equity fund managing over $5.5 billion in assets, will acquire Ashot, which has seen operational improvements under Elbit's ownership. The deal is subject to certain regulatory approvals.

Elbit Systems of America has secured a firm-fixed-price, Indefinite-Delivery/Indefinite-Quantity contract with the U.S. Army to supply Integrated Helmet And Display Sight System (IHADSS) equipment for the AH-64 Apache helicopter fleet, valued at up to $76 million. The first order is approximately $6 million. Deliveries will occur over five years, concluding in September 2026. This contract reinforces Elbit's longstanding relationship with the Army and positions the company to continue supporting Apache operations with advanced technology solutions.