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.
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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.
Elbit Systems Ltd. (NASDAQ: ESLT) announced the successful election of Mr. Noaz Bar Nir as an External Director during its Extraordinary General Meeting on August 10, 2020. This election ensures the company meets Nasdaq's board independence requirements and complies with Israeli Companies Law. The meeting was held at the company's offices in Haifa, Israel, and followed the Proxy Statement sent to shareholders on July 6, 2020.
Elbit Systems of America has commenced flight testing of the JHMCS II helmet-mounted display on the Lockheed Martin F-16V, following its successful safety qualification tests. This system enhances pilot operations with advanced visual cueing and targeting capabilities across various conditions. As the baseline HMD for F-16V aircraft, JHMCS II has attracted interest from international customers, bolstering Elbit's global presence in military aviation gear. The joint venture with Collins Aerospace aims to enhance mission success and pilot safety.
Elbit Systems Ltd. (NASDAQ: ESLT) will release its second quarter 2020 financial results on August 13, 2020, followed by a conference call at 9:00 am Eastern Time. Investors can participate via specific dial-in numbers or listen to a live broadcast on the company's website. The call will include management's discussion on the results and a Q&A session. Elbit Systems is engaged in defense and commercial programs globally, focusing on advanced technologies and support services.
Elbit Systems Ltd. has been awarded a contract worth approximately $53 million over two years to provide intelligence suites for a Southeast Asian navy. The contract includes equipping vessels with advanced systems for reconnaissance, featuring a range of technologies such as AES-212 electronic intelligence systems, NATACS naval tactical communication intelligence, and various sonar systems. This deal reflects a rising demand for maritime solutions, according to Elad Aharonson, General Manager of Elbit Systems ISTAR Division.
Elbit Systems Ltd. (NASDAQ: ESLT) received a notice of deficiency from Nasdaq regarding compliance with the independent director requirement. Following the resignation of independent director Moshe Kaplinsky on June 17, 2020, the board's composition now fails to meet the required majority of independent directors. Elbit Systems plans to address this within regulatory timeframes by identifying a new candidate for election. Until then, the notice does not impact its Nasdaq listing status if compliance is achieved in time.