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 (ESLT) news covers announcements and disclosures from a global defense technology company that develops, manufactures, integrates and sustains multi-domain systems and solutions. The company’s press releases and Form 6-K filings highlight contracts, financial results, corporate actions and operational updates relevant to investors and observers of the aerospace and defense sector.
Recent Elbit Systems news has included contracts for an advanced airborne self-protection electronic warfare suite, including a Direct Infra-Red Counter-Measure (DIRCM) system, to equip a helicopter platform in an Asia-Pacific country. The company has also reported that its PULS rocket artillery system was selected by the Hellenic Armed Forces, subject to commercial negotiations, and that it received contracts from the Israel Ministry of Defense for upgrades to Merkava main battle tanks, including AI-enhanced electro-optical sights and related maintenance and support services.
Other announcements have described a large international contract for a strategic solution, multi-billion-dollar orders from a European country for long-range precision strike artillery-rocket systems, unmanned reconnaissance and loitering aerial combat systems, ISTAR and electronic warfare capabilities, electro-optical and night-vision systems, combat vehicle upgrades and a military digitalization and Network Combat Solution. Elbit Systems also regularly reports quarterly financial results, order backlog figures, capital-raising activities, rating updates from an Israeli rating agency, and corporate governance events such as annual general meeting outcomes.
This ESLT news page aggregates such items so readers can review contract awards, program developments, financial performance updates, securities-related announcements and other company communications in one place. Users researching Elbit Systems stock or the broader defense technology space can use this news feed to track how the company describes its business momentum, operational environment and interactions with customers and capital markets over time.
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.
Elbit Systems (NASDAQ: ESLT) has secured a $260 million contract to supply systems to an international customer. Announced on May 23, 2024, the contract will be executed over a two-year period. Elbit Systems' CEO, Bezhalel Machlis, expressed pride in offering advanced solutions to enhance national security and technological capabilities for their international clientele. The contract reflects Elbit Systems' ongoing commitment to providing cutting-edge technology and strengthening global security measures.
On May 21, 2024, Elbit Systems (NASDAQ: ESLT, TASE: ESLT) announced that it has secured contracts totaling approximately $760 million for supplying ammunitions to the Israeli Ministry of Defense (IMOD). These contracts will be executed over a two-year period.
Elbit Systems noted a significant uptick in demand for its products since the beginning of the Swords of Iron war. This heightened demand from the IMOD may continue, potentially leading to additional substantial orders for the company.
Elbit Systems has been awarded a $53 million contract to supply Crossbow Unmanned Turreted Mortar Systems to General Dynamics European Land Systems for a European customer. The contract spans 6 years and marks the first supply agreement for the Crossbow system. The system boasts high protection, survivability, and quick firing capabilities, with a maximum rate of ten rounds per minute. The Crossbow can fire various NATO 120mm ammunition, including guided munitions with a range of up to 10 kilometers.
Elbit Systems (NASDAQ: ESLT) announced the schedule for releasing its first quarter 2024 financial results on May 28, 2024, along with a conference call for management to review and discuss the results and answer questions.
Elbit Systems has been awarded a $37 million contract to supply Iron Fist Active Protection Systems (APS) to upgrade the U.S. Army's Bradley Infantry Fighting Vehicles (IFVs). The system offers advanced self-defense capabilities against modern battlefield threats, providing 360-degree protection in various environments. The contract will span over 24 months, enhancing the U.S. armed forces' capabilities.
Elbit Systems (NASDAQ: ESLT) has secured a $50 million contract for its new air defense system, Red Sky, from an international customer. The system includes two Red Sky batteries with soft-kill and hard-kill defense capabilities, as well as the Redrone electronic warfare solution. The project will span over 2 years, providing protection against low-altitude aerial threats.
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