Elbit Sys Ltd Stock Price, News & Analysis

Elbit Systems Ltd (NASDAQ: ESLT) announced a follow-on contract valued at approximately $100 million with the Israeli Ministry of National Security to deliver aerial firefighting services over eight years. This contract extends the company's role in providing operational support through a fleet of 14 aircraft, including maintenance and flight preparation.

The squadron will be operated under the Israeli Police's guidance and is designed to fulfill specific operational needs set by the Fire and Rescue Authority. Elbit Systems' General Manager of Aerospace, Yoram Shmuely, expressed confidence in the company's capabilities and the extension of the contract until the end of 2031, highlighting its ongoing commitment to national safety.

Elbit Systems (NASDAQ: ESLT) has secured a follow-on contract valued at approximately $100 million to upgrade commercial aircraft into Intelligence and Electronic Warfare (EW) platforms for an international customer. This contract, extending over three years, includes equipping the aircraft with advanced Intelligence Mission Suite and EW capabilities.

The enhancements will provide comprehensive operational awareness through SIGINT and Electro-Optics VISINT sensors and systems, in addition to Electronic Counter Measures to address various threats. Elbit's General Manager, Oren Sabag, emphasized the contract showcases their robust ISTAR and EW capabilities, tailored to meet evolving defense needs.

Elbit Systems Ltd. (NASDAQ: ESLT) announced on April 18, 2023, that it secured a contract valued at approximately $102 million to supply artillery systems, specifically the ATMOS (Autonomous Truck Mounted Howitzer), to an international customer. This contract, which will be executed over eight years, includes the provision of a battalion's worth of 155mm/52 caliber truck-mounted howitzer systems. The ATMOS system is noted for its ability to fire all NATO-certified projectiles with an effective range exceeding 40km and is designed for rapid deployment across various missions. Yehuda Vered, General Manager of Elbit Systems Land, emphasized this contract as a testament to the company's competitive edge in indirect fire solutions.

Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract valued at approximately $280 million to supply precision munitions and defense electronics systems to a European country. This contract will be executed over a period of three years, reflecting the company's strong demand for its products and services in Europe. President and CEO Bezhalel Machlis emphasized the continued trust customers have in Elbit's customized solutions. The deal signifies Elbit's robust market position and its commitment to sustaining advanced defense technologies.

Elbit Systems reported a strong financial performance for 2022 with revenues of $5.5 billion and a record backlog of $15.1 billion. The company’s non-GAAP net income was $269 million, while GAAP net income stood at $275 million. The fourth quarter saw revenues increase to $1.51 billion, compared to $1.49 billion in Q4 2021. However, operating income declined to $103 million (6.8% of revenues) due to increased expenses, including a rise in R&D and marketing costs. Elbit Systems continues to focus on expanding its technological capabilities amidst global supply chain challenges and labor costs.

Elbit Systems Ltd. (NASDAQ: ESLT) will release its fourth quarter and full year 2022 financial results on March 28, 2023. A conference call will be held at 9:00am ET to discuss these results, followed by a Q&A session. Interested participants can join via specified dial-in numbers, and the call will also be live-streamed on Elbit's website. An investor conference is scheduled in Israel at 10:00am Israel time. Elbit Systems is engaged in defense, homeland security, and commercial programs globally, focusing on diverse technological solutions.