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.
Elbit Systems (NASDAQ: ESLT) has secured a $200 million contract from the Israeli Ministry of Defense to supply high-power laser systems for the 'Iron Beam' air defense system. The contract includes the provision of ongoing support services. The company's high-power laser solution is designed to provide robust defense against various threats. Elbit Systems, serving as Israel's Laser Center, highlights this development as a significant advancement in future defense capabilities.
Elbit Systems (NASDAQ: ESLT) (TASE: ESLT) has announced the results of its Annual General Meeting of Shareholders held on September 19, 2024, at the company's offices in Haifa. The meeting concluded with the approval of all proposals described in the Proxy Statement dated August 15, 2024. Each proposal received the required majority vote from shareholders, indicating a successful meeting and alignment with the company's proposed agenda.
Elbit Systems reported strong Q2 2024 results, with revenues of $1.6 billion, up 12% year-over-year. Key highlights include:
- Non-GAAP net income of $93 million, up 26% YoY
- Non-GAAP EPS of $2.08, up 26% YoY
- Order backlog of $21.1 billion
- 12% revenue growth driven by increased demand across segments
- Gross profit margin of 24.4% (non-GAAP)
The company saw increased demand from the Israeli Ministry of Defense due to ongoing conflicts. While facing some disruptions, Elbit has taken steps to protect employees, support increased production, and maintain business continuity. Management remains focused on long-term growth and profitability goals.
Elbit Systems (NASDAQ: ESLT) has secured a $130 million contract to supply Iron Fist Active Protection Systems (APS) to BAE Systems Hägglunds. The systems will be installed on CV90 Infantry Fighting Vehicles (IFV) for a European country. The contract will be executed over 5.5 years.
The Iron Fist APS is an advanced Hard Kill system designed to enhance the self-defense capabilities of armored platforms against modern battlefield threats. It provides 360-degree protection from various anti-armor threats, including Anti-Tank Rockets, Anti-Tank Guided Missiles, UAS, and Loitering threats in both open terrain and urban environments.
Elbit Systems (NASDAQ: ESLT) (TASE: ESLT) has secured a significant contract worth approximately $270 million to supply rocket artillery to an international customer. The contract, announced on August 6, 2024, will be executed over a 4-year period. This agreement underscores Elbit Systems' strong position in the advanced artillery solutions market and its ability to enhance clients' operational capabilities with cutting-edge technologies.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, emphasized that this contract reaffirms the company's leadership in providing advanced artillery solutions. The deal is expected to bolster Elbit Systems' revenue stream and reinforce its global presence in the defense sector.
Elbit Systems (NASDAQ: ESLT) has secured a significant contract worth approximately $340 million from the Israeli Ministry of Defense (IMOD) for the supply of ammunition. The contract, announced on August 1, 2024, will span over a 10-year period. As part of the agreement, Elbit Systems will establish a new manufacturing facility dedicated to producing the ammunition.
Bezhalel Machlis, President and CEO of Elbit Systems, expressed gratitude for the IMOD's trust and emphasized the company's commitment to expanding its production infrastructure and capabilities. He also highlighted Elbit Systems' ongoing efforts to develop, manufacture, and deliver top-tier, combat-proven technological solutions to customers in Israel and worldwide.
Elbit Systems (NASDAQ: ESLT) has secured a contract worth approximately $190 million to supply its Iron Sting laser and GPS-guided mortar munition to the Israeli Ministry of Defense. The contract will be executed over a 2-year period. Iron Sting is a precision-guided 120mm mortar munition with a range of up to 10 kilometers, featuring immune GPS and laser guidance technology. It includes a multi-mode fuze with various detonation options and a loading time of about 15 seconds.
Yehuda Vered, General Manager of Elbit Systems Land, emphasized the company's position as a market leader in precision-guided solutions, highlighting the increasing demand for accurate technologies in urban military conflicts to minimize collateral damage.
Elbit Systems (NASDAQ: ESLT) (TASE: ESLT) has announced the release date for its second quarter 2024 financial results. The results will be published on Wednesday, August 14, 2024, followed by a conference call at 9:00am Eastern Time on the same day. During the call, management will review and discuss the results and be available to answer questions.
Investors can participate in the conference call using the provided teleconferencing numbers for the US, Canada, Israel, and international dial-ins. The call will also be broadcast live on Elbit Systems' website, with an online replay available 24 hours after the call ends. Additionally, a replay number will be available for two days following the call for those unable to attend live.
Elbit Systems (NASDAQ: ESLT, TASE: ESLT) announced that S&P Global Ratings Maalot , an Israeli rating agency, reaffirmed its long-term rating of 'ilAA' with a stable outlook and its short-term rating of 'ilA-1+' for the company's commercial paper. The reaffirmed ratings apply to Elbit Systems' Series B, C, and D Notes. Maalot's Rating Report was submitted to the Israel Securities Authority and the Tel Aviv Stock Exchange in Hebrew. An unofficial English translation was also submitted to the U.S. Securities and Exchange Commission on Form 6-K. This announcement does not constitute an offer to buy any securities.
Elbit Systems (NASDAQ: ESLT) reported its Q1 2024 results, showing a significant increase in order backlog to $20.4 billion and revenues of $1.6 billion, up from $1.39 billion in Q1 2023. The company's non-GAAP net income was $81 million, with a non-GAAP EPS of $1.81. GAAP net income was $74 million, with a GAAP EPS of $1.65. Notable revenue growth was seen in C4I and Cyber (12%), ISTAR and EW (17%), and Land (26%). However, gross profit margins declined compared to the previous year. Cash flow used in operating activities improved to $6.4 million from $73 million. Management highlighted increased demand from the Israeli Ministry of Defense due to ongoing regional conflicts and announced several new contracts worth hundreds of millions of dollars.