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 (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.
On June 10, 2021, Elbit Systems (NASDAQ: ESLT) announced plans for a potential notes offering in Israel, authorized by its Board of Directors. This offering, which will be part of the company’s shelf prospectus dated September 30, 2020, aims to be publicly listed on the Tel Aviv Stock Exchange. The specifics regarding timing, terms, and raised amounts remain undetermined and require further Board approval. Importantly, the securities will not be registered under the U.S. Securities Act and will only be offered in Israel.
Elbit Systems Ltd. (NASDAQ: ESLT) announced its UK subsidiary secured a $16 million contract with the UK Ministry of Defence to supply XACT Night Vision Goggles (NVG). This initial contract will be executed over 18 months with potential follow-on orders extending to five years. The lightweight XACT nv33 NVGs will enhance mission efficiency in low-light conditions and are already operational in several NATO countries. CEO Martin Fausset noted this opportunity will create skilled jobs in the UK and demonstrate value for money for the UK Armed Forces.
Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract worth approximately $80 million with an Asia-Pacific country to supply SPECTRO XR multi-spectral electro-optic systems for maritime forces. The contract, spanning four years, will enhance intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) capabilities for naval operations under challenging conditions. SPECTRO XR utilizes AI for features like multi-target video tracking, showcasing growing demand for advanced ISTAR solutions as military forces seek superior capabilities in difficult visibility.
Elbit Systems Ltd. reported a 4.4% revenue increase in Q1 2021, totaling $1,118.3 million. The order backlog reached a record $11.8 billion, reflecting a 9% growth. Non-GAAP net income rose to $76.2 million, with a diluted EPS of $1.72. However, gross profit margins declined, with non-GAAP gross profit at 25.6% of revenues, down from 27.6% year-over-year. Expenses in R&D and general administration increased slightly. The company also declared a dividend of $0.44 per share, payable on June 21, 2021.
Elbit Systems of America has partnered with Textron Systems to develop the Advanced Reconnaissance Vehicle (ARV) prototype for the U.S. Marine Corps, set to replace the outdated Light Armored Vehicle. The ARV will feature advanced technologies that enhance combat capabilities and situational awareness. Elbit's IronVision will provide a 360-degree situational awareness suite, crucial for success in modern environments. This development aligns with the USMC's needs for advanced reconnaissance systems, promising significant improvements in lethality and survivability for Marines.
Elbit Systems Ltd. (NASDAQ: ESLT) announced it will release its first quarter 2021 financial results on May 25, 2021, followed by a conference call at 9:00am Eastern Time. The call will review the results and allow for a Q&A session. Interested participants can join by dialing the provided numbers. The meeting will also be broadcast live on the company's investor relations website, with a replay available post-call. The company specializes in defense, homeland security, and commercial programs, focusing on aerospace, land systems, and advanced technologies.
Elbit Systems of America has received an approximately $41 million order from the USMC to replace legacy night vision devices with the upgraded Squad Binocular Night Vision Goggle (SBNVG). This initiative started in 2019 under an IDIQ contract and will continue through March 2022. The SBNVG features enhanced clarity, depth perception, and thermal imaging, aimed at improving Marines' operational effectiveness. All units will be produced at the company's facility in Roanoke, Virginia.