Elbit Sys Ltd Stock Price, News & Analysis

Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) announced key management changes effective April 1, 2022. Joseph Gaspar, the current CFO, will transition to Senior EVP - Business Management after 20 years in the role. Dr. Kobi Kagan, the Deputy General Manager of Finance and Control at Elbit Systems Land, will succeed him as CFO. Dr. Kagan brings extensive experience from both the private sector and the Israeli Navy, holding an advanced education in economics and business. These appointments are expected to contribute positively to Elbit's growth trajectory.

Elbit Systems Ltd. (NASDAQ: ESLT) reported a 21% increase in revenues for Q2 2021, reaching $1.3 billion. Non-GAAP net income rose to $93.4 million (7.2% of revenues), with GAAP net income at $101.7 million (7.8% of revenues). The company’s backlog grew 26% to $13.6 billion, indicating strong demand globally. Significant expenses increased, including R&D costs at $95.4 million, and the acquisition of Sparton for $380 million contributed to results. A dividend of $0.46 per share was declared for Q2, payable September 13, 2021.

Elbit Systems Ltd. (NASDAQ: ESLT) has announced the release date for its second quarter 2021 financial results, scheduled for August 12, 2021. The company will also hold a conference call at 9:00 AM Eastern Time to discuss the results, during which management will field questions from participants. Interested parties can access the call through specified dial-in numbers or via a live broadcast on the company's website. An online replay will be available shortly after the call's conclusion.

Elbit Systems Ltd. (NASDAQ: ESLT) announced that it raised approximately $581 million (NIS 1.9 billion) through a public notes offering in Israel. The offering included three series of notes with varying interest rates: Series B (1.08%), Series C (2.12%), and Series D (2.67%). Proceeds are allocated for general corporate purposes, including financing operations and acquisitions. The notes are set to be listed on the Tel Aviv Stock Exchange. The offering underscores strong market confidence in Elbit Systems, as indicated by the significant participation.

On July 5, 2021, Elbit Systems Ltd. (NASDAQ: ESLT) announced an update regarding a potential notes offering in Israel. Following previous announcements, the company revealed that S&P Global Ratings Maalot Ltd. assigned an "ilAA" rating with a stable outlook for the offering, estimated at approximately NIS 2 billion ($613 million nominal value). The final terms and execution of the offering remain subject to board approval. The notes will not be registered under U.S. law and are intended for the Israeli market.

Elbit Systems of America has secured $29 million in orders from the U.S. Army for upgrading their AN/AVS-6 Aviator's Night Vision Imaging Systems (ANVIS) with advanced white phosphor image intensifier tubes. This upgrade will enhance the clarity and performance of the night vision goggles used by active duty and National Guard rotary-wing aviation units. Deliveries are expected to be completed by September 2021.

Elbit Systems (NASDAQ: ESLT) announced on June 17, 2021, that its U.S. subsidiary received two orders totaling approximately $29 million from the U.S. Army's Program Executive Office Soldier. The orders are part of an existing Indefinite Delivery/Indefinite-Quantity contract and will be fulfilled from their Roanoke, Virginia facility with deliveries due by September 2021. The orders aim to upgrade the Army's AN/AVS-6 Aviator's Night Vision Imaging Systems with advanced white phosphor image intensifier tubes, enhancing visual clarity and contrast for pilots.

Elbit Systems Ltd. (NASDAQ: ESLT) announced that its German subsidiary secured a $23 million contract from the Swedish Defence Material Administration to supply additional Software Defined Radios (SDRs) for the Swedish Armed Forces. This follow-on contract, valid for 30 months, builds upon previous orders since 2016. The E-LynX SDRs will enhance Sweden’s tactical radio capabilities, reflecting Elbit's strong position in European defense markets. The contract underscores the confidence the Swedish Armed Forces place in Elbit's communication technologies.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a potential notes offering in Israel, following the assignment of an "ilAA" issuer rating by S&P Global Ratings Maalot Ltd. This rating, which comes with a stable outlook, applies to the new notes expected to total approximately NIS 1.2 billion (around $370 million). While the details of the offering are pending Board and TASE approval, Elbit Systems emphasizes that there is no guarantee the offering will be completed. The notes will not be registered under the U.S. Securities Act and will only be available in Israel.