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 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.
Elbit Systems Ltd. (NASDAQ: ESLT) announced that its U.S. subsidiary secured a $41 million delivery order for night vision systems for the U.S. Marine Corps. This order is part of a $249 million IDIQ contract awarded on September 6, 2019, aimed at enhancing Marine capabilities in low-light conditions with advanced Squad Binocular Night Vision Goggles. The contract underscores Elbit's commitment to delivering high-performance defense solutions and is expected to be fulfilled by March 2022, thereby contributing positively to the company's revenue stream.