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. 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 of America's medical division, KMC Systems, has opened a new corporate innovation center in Cambridge, Massachusetts. This expansion includes 10,000 square feet of workspace and aims to enhance their medical instrumentation capabilities, particularly in next-generation sequencing and cell and gene therapy.
The facility will accommodate 50-60 engineers and foster partnerships, including with start-up companies. The move strengthens Elbit's presence and access to talent in the region while supporting local academic institutions.
Elbit Systems Ltd. (NASDAQ: ESLT) announced a new production order worth approximately $54 million from its U.S. subsidiary, Elbit Systems of America, to supply Enhanced Night Vision Goggle – Binocular (ENVG-B) systems to the U.S. Army. This order includes spare parts, logistics support, and test equipment, to be delivered by February 2023. The project is part of a broader contract that could total $442 million. The ENVG-B systems are designed to enhance situational awareness and operational effectiveness for military personnel.
Elbit Systems Ltd. (NASDAQ: ESLT) announced it has secured contracts worth approximately $56 million to enhance the Anti-Submarine Warfare (ASW) capabilities for an Asia-Pacific navy. The contracts involve supplying Seagull™ Unmanned Surface Vessels and Towed Reelable Active Passive Sonar (TRAPS) systems, scheduled for a 12-month execution period. These systems aim to improve detection and tracking in underwater operations, addressing growing naval challenges.
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.