Elbit Sys Ltd Stock Price, News & Analysis

Elbit Systems Ltd. (NASDAQ: ESLT) announced a definitive agreement for its U.S. subsidiary to acquire Sparton Corporation for $380 million. The acquisition aims to enhance Elbit Systems of America's capabilities in the naval sector, supporting Undersea Warfare for the U.S. Navy and allied forces. The deal is subject to regulatory approvals, which may take several months. The CEO expressed optimism that the acquisition will benefit both companies' employees and customers.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a $338 million contract with the Swiss Federal Department of Defense to supply an army-wide tactical mobile Software Defined Radio network solution. This contract, part of the Telecommunications Armed Forces digitization program, will be executed over six years. The award follows extensive evaluations by the Swiss Armed Forces. CEO Bezhalel Machlis emphasized Switzerland as a strategic market and the recognition of the E-LynX SDR solution in advanced military communication.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a $50 million follow-on contract with the Dutch Ministry of Defence to supply the Royal Netherlands Army with advanced digital soldier and vehicular systems over three years. This contract includes the TORCH-X Dismounted Command and Control systems and E-LynX Software Defined Radio systems, designed to meet the specific needs of the RNLA. The contract reinforces Elbit's ongoing partnership with the Dutch MOD, contributing to the modernization and effectiveness of Dutch soldiers.

Elbit Systems Ltd. (NASDAQ: ESLT) secured a $15 million contract from the Dutch Ministry of Defense to deliver XACT nv32 micro night vision monoculars over a two-year period, with potential follow-on orders extending to seven years. This builds on previous contracts in the Netherlands related to digital soldier systems and network-combat warfare systems. The XACT nv32 enhances operational effectiveness for both mounted and dismounted soldiers and is already in use by several NATO nations.

Elbit Systems has secured a $27 million contract from Avioane Craiova S.A. for a four-year upgrade program of the Romanian Air Force's IAR-99 Standard trainer aircraft. The project will enhance the aircraft with advanced avionics systems, enabling better pilot training for advanced fighter jets like the F-16. This initiative continues Elbit's collaboration with the Romanian military, following previous technology deliveries. Yoram Shmuely, General Manager of Elbit Systems Aerospace, expressed honor in supporting the RoAF through this upgrade.

On December 2, 2020, Elbit Systems Ltd. conducted its Extraordinary and Annual General Meeting of Shareholders in Haifa, Israel. Key resolutions passed included the re-election of seven board members and the extension of indemnification letters for two directors. The company also reappointed its independent auditor for the fiscal year 2020. Elbit Systems continues to operate in various defense and technology sectors, offering advanced systems and solutions worldwide.

Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) has secured a contract worth approximately $96 million to provide a Rotary-Wing Mission Training Center (MTC) to a European nation. This nine-year contract includes an option for extending maintenance services by an additional 10 years. The Rotary-Wing MTC aims to enhance training for helicopter pilots in various military branches, offering realistic tactical simulations. Yoram Shmuely, General Manager of Elbit's Aerospace Division, highlighted the importance of such technologies in improving military readiness and cost efficiency.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract to supply the E-LynX Software Defined Radio (SDR) solution for the Spanish Army's combat battalion level. This marks an initial step in Spain's combat radio network modernization program. The contract includes hundreds of handheld E-LynX SDR systems and vehicular units, to be delivered in six months, with cooperation from Telefonica, S.A. The solution was chosen after rigorous evaluations for future waveform implementation and security standards. E-LynX has gained traction as a preferred option in Europe, having been selected by other countries like Switzerland and Sweden.

Elbit Systems Ltd. reported its Q3 2020 results, showcasing revenues of $1,134.2 million, an increase from $1,101.2 million in Q3 2019. Non-GAAP gross profit rose to $302.3 million (26.7% of revenues), while GAAP gross profit fell to $237.4 million (20.9% of revenues), impacted by $60 million in non-cash impairments due to COVID-19. Non-GAAP net income reached $72.7 million (6.4% of revenues), compared to $58.7 million (5.3%) the previous year. The order backlog stood at $10.86 billion, a year-over-year increase of 10.8%. A dividend of $0.44 per share was also declared.