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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.
On June 30, 2022, Elbit Systems Ltd (NASDAQ:ESLT) announced a significant contract worth $548 million to enhance military-wide multi-domain combat capabilities for an Asia-Pacific nation. The project spans four years and includes the deployment of various advanced systems such as the ELBIT TIGER-X™ networking middleware and E-LynX™ Software Defined Radios. This contract underscores Elbit Systems' leading role in the C4ISR domain and highlights the increasing demand for integrated military solutions following lessons from recent conflicts.
Elbit Systems Ltd (NASDAQ: ESLT) has secured a contract worth approximately $220 million to supply precision guidance kits for airborne munitions to an Asian country. The contract spans 15 months and involves the delivery of the Lizard precision guidance kit, which enhances the targeting accuracy of general-purpose warheads.
CEO Bezhalel Machlis emphasized the increasing demand for precision fire capabilities in modern warfare, driven by lessons learned from recent conflicts.
Elbit Systems Ltd. (NASDAQ:ESLT) has secured a contract worth approximately $70 million to deliver an Electronic Warfare (EW) solution to an international client. The contract spans two and a half years and includes ground-based EW and Signal Intelligence (SIGINT) units. These systems are designed to enhance situational awareness by providing comprehensive electronic operational capabilities. The increasing demand for such solutions underscores the critical importance of securing electromagnetic dominance in modern military operations.
Elbit Systems Ltd (NASDAQ: ESLT) announced that S&P Global Ratings Maalot Ltd has reaffirmed the 'ilAA' rating with a stable outlook for its Series B, C, and D Notes issued in 2021. This reaffirmation indicates strong credit quality and financial stability, as confirmed in Maalot's rating report submitted to the Israel Securities Authority and the Tel Aviv Stock Exchange. An unofficial English translation will be provided in a 6-K filing with the U.S. SEC. This rating underscores the company's solid position in defense and security sectors, bolstering confidence among investors.
Elbit Systems Ltd (NASDAQ:ESLT) has secured a $69 million contract for Electronic Warfare (EW) capabilities in the Asia-Pacific region. This contract, which spans three years, indicates a rising demand for EW technologies as militaries recognize the significance of electromagnetic spectrum control. The announcement was made on May 31, 2022, by General Manager Oren Sabag, highlighting the company's strategic importance in defense technology.
Elbit Systems reported Q1 2022 revenues of $1.35 billion, up from $1.12 billion in Q1 2021, driven by robust global demand. The backlog of orders stands at $13.7 billion. However, non-GAAP net income fell to $54 million ($1.22 per share), down from $76.2 million ($1.72 per share) one year prior. Increased costs associated with stock price-linked compensation plans affected profits. Management expressed confidence in future growth due to rising defense budgets and a strong workforce.
Elbit Systems Ltd (NASDAQ:ESLT) announced that its U.S. subsidiary, Elbit Systems of America, received a $49 million delivery order for Squad Binocular Night Vision Goggles for the U.S. Marine Corps. This order is part of a $249 million five-year contract established on September 6, 2019. The SBNVG systems enhance nighttime operational capabilities with improved clarity and performance. The order will be fulfilled in Roanoke, Virginia, by September 2023.
Elbit Systems Ltd. (NASDAQ: ESLT) will release its first quarter 2022 financial results on May 24, 2022. A conference call is scheduled for 9:00am ET on the same day, where management will discuss the results and answer questions. Dial-in numbers for participation are provided for various regions. Elbit Systems operates in defense and cybersecurity, offering a range of technology solutions and support services. Detailed forward-looking statements emphasize potential risks and uncertainties impacting future performance.
Elbit Systems Ltd. (NASDAQ: ESLT) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021. This report was submitted to the U.S. Securities and Exchange Commission, the Israel Securities Authority, and the Tel Aviv Stock Exchange. Shareholders can access the report via the company's website or request a hard copy for free. Elbit Systems is engaged in defense and technology sectors, including aerospace, naval systems, and cyber-based solutions, contributing to both defense and homeland security programs.
Elbit Systems Ltd. (NASDAQ: ESLT) reported strong financial results for 2021, with revenues of $5.3 billion, a 13% year-over-year increase, and a backlog of orders reaching $13.7 billion. Non-GAAP net income stood at $368 million, translating to a non-GAAP EPS of $8.30. Despite a one-time tax expense of approximately $80 million, GAAP net income was $274 million. The company highlighted growth in its Airborne and C4ISR systems, particularly due to acquisitions like Sparton Corporation. Elbit's resilient performance amid the pandemic and substantial contracts forecast continued demand in the defense sector.
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