Elbit Sys Ltd Stock Price, News & Analysis

Elbit Systems Ltd. (NASDAQ: ESLT) announced a significant reduction in demand for its aviation products due to the COVID-19 pandemic, resulting in expected non-cash expenses of approximately $60 million for asset impairments and inventory write-offs in Q3 2020. The slowdown in commercial air traffic has led to lower production rates from aircraft manufacturers, and recovery to pre-pandemic levels may take years. The company will report these expenses as part of its regular financials in November 2020, although they will be excluded in non-GAAP results.

Elbit Systems Ltd. announced that its U.S. subsidiary received an Other Transaction Authority (OTA) contract from the U.S. Army for Enhanced Night Vision Goggle – Binocular (ENVG-B) systems, valued at up to $442 million. An initial order worth $22.5 million has been placed for low-rate initial production, expected to be fulfilled by December 2021. The ENVG-B systems are designed to enhance situational awareness for U.S. soldiers. CEO Bezhalel Machlis emphasized the significance of this contract for the company’s night vision technology efforts.

Elbit Systems of America has been awarded a five-year, $50 million IDIQ contract by the Defense Logistics Agency to produce spare parts for the Aviators' Night Vision Imaging System/Head-Up Display (ANVIS HUD) system. The initial order amounts to $17.9 million, scheduled for delivery until 2023. This contract ensures the availability of crucial equipment for U.S. Army helicopter pilots, enhancing their situational awareness and safety during missions. Elbit's ongoing commitment to supplying the ANVIS HUD strengthens its position in U.S. Army aviation modernization efforts.

Elbit Systems (NASDAQ: ESLT) announced that its U.S. subsidiary has secured a maximum $50 million ID/IQ contract from the U.S. Army for spare parts related to the Aviators' Night Vision Imaging System Head-Up Display (ANVIS HUD). The contract, awarded by the Defense Logistics Agency, spans five years, with an initial order worth $17.9 million to be fulfilled by 2023. The ANVIS HUD enhances helicopter pilot situational awareness by displaying crucial information directly in their line of sight, thereby improving operational readiness.

Elbit Systems announced that its U.S. subsidiary secured a $35 million contract from the U.S. Naval Supply Systems Command. This five-year contract covers repairs for line-replaceable units for the V-22 aircraft. Work will take place in Fort Worth, Texas, and Talladega, Alabama, and is expected to be completed by October 2025. This contract strengthens Elbit's presence in the defense sector and underscores its capability in aviation support.

Elbit Systems (NASDAQ: ESLT) has secured a $33 million contract to provide tactical radio systems to an Asia-Pacific customer. This project, set to be completed within 12 months, will involve equipping the customer’s Artillery and Infantry Forces with various radio configurations, enhancing their communication capabilities. The award reflects the customer's decision to expand its procurement of networked solutions from Elbit, which has previously supplied similar systems to several international armed forces.

Elbit Systems Ltd. (NASDAQ: ESLT) announced on September 29, 2020, the filing of a shelf prospectus with the Israel Securities Authority and the Tel Aviv Stock Exchange. The prospectus, valid for two years, allows the company to raise funds through various securities offerings, including debt and equity, at its discretion. No decisions have been made regarding specific offerings, and any securities offered will not be registered under the U.S. Securities Act. This announcement does not represent an offer to sell or a solicitation to buy securities.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract award from Lockheed Martin for manufacturing Forward Equipment Bay assemblies for the F-35, valued as non-material to Elbit. The contract spans four years, during which over 1,400 components will be supplied for all F-35 variants. This contract enhances Elbit's ongoing collaboration with Lockheed Martin, building on previous successes in similar projects. The Aerospace Division General Manager expressed pride in the continued partnership and trust established over the years.