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. (NASDAQ: ESLT) is an Israeli defense electronics company whose news typically centers on major international defense contracts, technology developments, and quarterly financial performance. As one of the largest non-American defense contractors, announcements from Elbit often involve multi-million or multi-billion dollar agreements with armed forces across NATO countries, Asia-Pacific nations, and the Middle East.
News coverage for ESLT frequently features contract awards for unmanned aerial systems, C4ISR solutions, and electronic warfare equipment. Defense ministry procurement decisions in European and Asian markets generate significant announcements, as do upgrade programs for aircraft, tanks, and naval platforms. Material events disclosed through SEC filings as Form 6-K often coincide with press releases about new business wins.
Earnings releases provide quarterly insight into revenue distribution across Elbit's geographic markets and product segments. Investors tracking the defense sector monitor these reports for indicators of international defense spending trends and contract backlog growth. Stock offerings and capital market activities also appear in the company's news stream.
Bookmark this page to follow developments from this Israeli defense technology contractor, including new system selections by allied armed forces, strategic partnerships, and financial performance updates.
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.
Elbit Systems of America has secured a $79 million Indefinite Delivery/Indefinite Quantity (ID/IQ) contract from the Defense Logistics Agency Land for supplying the U.S. Army with components for the Bradley Infantry Fighting Vehicle over five years. The contract includes an initial purchase order of $26 million and a subsequent $12 million order. The components will enhance operational effectiveness and replace damaged equipment, with production planned through 2024. This order underscores Elbit's commitment to modernizing U.S. Army capabilities.
Elbit Systems Ltd. (NASDAQ: ESLT) announced that its U.S. subsidiary secured a $79 million Indefinite Delivery/Indefinite Quantity (ID/IQ) contract from the Defense Logistics Agency Land. This contract involves supplying gunner hand stations and circuit cards for the Bradley Infantry Fighting Vehicle over five years. An initial purchase order worth $26 million and a subsequent order of $12 million are included for a three-year execution period. The contract aims to enhance the operational capabilities of the U.S. Army's ground forces.
Elbit Systems of America has integrated Sintela's Linear Ground Detection System (LGDS) into its TORCH™ Command & Control system for the U.S. Border Patrol. This system enhances surface and subterranean surveillance along the southern border, supporting the Border Wall System (BWS). The LGDS utilizes machine learning for automated threat detection, improving safety and efficiency for Border Patrol agents. Elbit Systems is the exclusive U.S. distributor for this technology. The partnership underscores Elbit's role as a key contractor for the Integrated Fixed Towers program, providing significant border security.
KMC Systems, a subsidiary of Elbit Systems of America (NASDAQ: ESLT), has been chosen by the Department of Defense to assist in developing ventilator designs as part of the Vulcan-5 Ventilator Project to combat COVID-19. The project aims to ensure ventilator availability during surges in cases. KMC will evaluate five selected designs for manufacturability and component availability, leveraging its expertise in FDA-regulated environments. The initiative underscores KMC's commitment to provide rapid medical solutions amid the pandemic.
On August 17, 2020, Elbit Systems Ltd. (NASDAQ: ESLT) announced it secured a $27 million contract to provide air-to-air combat training systems for a Navy in South Asia. The contract spans two years, with an additional three years for maintenance. The deal involves the EHUDTM Air Combat Maneuvering Instrumentation systems, enhancing military training with features like real-time hit notifications and electronic warfare capabilities. Elbit Systems' experience in the field supports its competitive edge in providing advanced training solutions.
Elbit Systems Ltd. (NASDAQ: ESLT) reported consolidated results for Q2 2020, revealing revenues of $1,079.4 million, slightly up from $1,064.0 million in Q2 2019. Non-GAAP gross profit was $286.4 million, but margins decreased. Operating income saw a significant rise, at $92.7 million (8.6% of revenues). The backlog reached $10.8 billion, indicating strong future visibility. Despite challenges from COVID-19, the company managed positive cash flow of $169.3 million. A dividend of $0.44 is declared, payable on September 14, 2020.
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