Welcome to our dedicated page for Elbit Systems news (Ticker: ESLT), a resource for investors and traders seeking the latest updates and insights on Elbit Systems stock.
Elbit Systems Ltd. (NASDAQ: ESLT, TASE: ESLT) is a leading global defense technology company, headquartered in Haifa, Israel. The company is renowned for developing, manufacturing, and integrating advanced, high-performance defense electronic and electro-optic systems. Their expertise extends across a multitude of sectors including defense, homeland security, and even commercial aviation.
Elbit Systems focuses on a broad range of sophisticated systems such as Command, Control, Communication, Computer, Intelligence, Surveillance and Reconnaissance (C4ISR) network-centric systems, which are pivotal for defense and homeland security operations. The company is also heavily involved in the production and modernization of unmanned vehicles, avionic systems, and aerostructure products, providing comprehensive support services to ensure their optimal performance and maintenance.
In recent years, Elbit Systems has achieved significant milestones. Notably, they secured a $50 million contract for their new air defense system, 'Red Sky™,' and a $37 million contract for the 'Iron Fist Active Protection Systems' aimed at enhancing the capabilities of the U.S. Army's Bradley Infantry Fighting Vehicles. Additionally, the company was awarded a $53 million contract to supply the 'Crossbow Unmanned Turreted Mortar Systems' and another aggregate $760 million in contracts for supplying ammunition to the Israeli Ministry of Defense.
Financially, Elbit Systems is robust, reporting revenues of approximately $6.0 billion in 2023 and an order backlog of $20.4 billion by March 2024. This impressive backlog underscores the global demand for their innovative products and solutions, supported by the expertise of approximately 19,000 employees across five continents.
Elbit Systems continues to thrive on its agile and collaborative culture, leveraging Israel's rich technology ecosystem to meet the rapidly evolving challenges of modern battlefields. Their ability to adapt and innovate ensures they remain at the forefront of defense technology, delivering solutions that enhance security and safety worldwide.
Elbit Systems (NASDAQ: ESLT) has secured contracts worth $335 million to supply defense systems to a European country. The contracts include PULS™ rocket launchers and rockets, along with Hermes™ 900 Unmanned Aircraft Systems equipped with advanced payloads. The implementation period spans three years and six months.
The PULS system offers a versatile solution for launching various munitions, while being adaptable to existing platforms. The Hermes 900, Elbit's largest unmanned aerial vehicle, specializes in surveillance and reconnaissance missions, and has been chosen by over 20 customers globally since its 2011 debut.
Elbit Systems (NASDAQ: ESLT) has secured a $127 million follow-on contract to supply Iron Fist Active Protection Systems (APS) to General Dynamics Ordnance and Tactical Systems for upgrading U.S. Army's Bradley M2A4E1 Infantry Fighting Vehicles. The contract spans 34 months.
The Iron Fist APS is an advanced Hard Kill system providing 360-degree protection against various anti-tank threats, including Anti-Tank Rockets, Guided Missiles, Unmanned Aircraft Systems, and Loitering threats. The system is characterized by high performance and low volume, weight, and power requirements.
Elbit Systems (NASDAQ: ESLT) (TASE: ESLT) has announced it will release its third quarter 2024 financial results on Tuesday, November 19, 2024. The company will host a conference call at 10:00am Eastern Time to discuss the results and answer questions. The call will be accessible via multiple dial-in numbers for US, Canada, Israel, and international participants, and will also be broadcast live on Elbit Systems' website. A replay option will be available for two days following the call through dedicated dial-in numbers.
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.
FAQ
What is the current stock price of Elbit Systems (ESLT)?
What is the market cap of Elbit Systems (ESLT)?
What does Elbit Systems Ltd. specialize in?
What recent contracts has Elbit Systems secured?
How is Elbit Systems performing financially?
Where is Elbit Systems headquartered?
How many employees does Elbit Systems have?
What sectors does Elbit Systems serve?
What are some of Elbit Systems' key products?
Who are Elbit Systems' clients?
Does Elbit Systems offer product support?
What is the significance of Elbit Systems' order backlog?
