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 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.
The United States Air Force has selected Elbit Systems of America to compete for future task orders under its Joint All-Domain Command and Control (JADC2) Indefinite-Delivery/Indefinite-Quantity contract. This initiative aims to develop systems for unified operations across various domains including air, land, and cyber. Elbit Systems of America plans to leverage its expertise in AI and sensor-fused data to enhance warfighter capabilities. CEO Raanan Horowitz emphasized the company's commitment to providing advanced AI-enabled solutions to enhance operational effectiveness.
Elbit Systems Ltd. (NASDAQ: ESLT) will announce its third quarter 2020 financial results on November 24, 2020. A conference call is scheduled for 9:00am Eastern Time where management will discuss the results and take questions. Interested parties can join the call using provided US, Canada, and international dial-in numbers. The call will be available for replay for 48 hours post-event. Elbit Systems specializes in defense and security technology, operating globally in various sectors.
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.