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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.
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
Elbit Systems Ltd. (NASDAQ: ESLT) announced a $120 million contract awarded to its Romanian subsidiary, Elmet International SRL., by General Dynamics European Land Systems. The contract focuses on supplying unmanned turrets, Remote Controlled Weapon Stations (RCWS), and mortar systems for the 'Piranha V' Armored Personnel Carrier for the Romanian Armed Forces. The project will span three years and will involve the integration of the UT30 MK2 turrets and SPEAR mortar systems. This award reinforces Elbit's position in the defense sector, showcasing their capabilities in armored platform solutions.
Elbit Systems Ltd. (NASDAQ: ESLT) announced two contracts totaling $252 million to supply artillery rocket systems to a European NATO member. The first contract, valued at $119 million, involves the delivery of ATMOS (Autonomous Truck Mounted Howitzer) systems over two years. The second contract, worth $133 million, includes two batteries of PULS artillery rocket-launcher systems to be executed over three years. The ATMOS system has an effective range exceeding 40 km, while the PULS supports a range of 12 km to 300 km. This reflects a growing demand for advanced artillery solutions among NATO countries.
Elbit Systems Ltd. (NASDAQ: ESLT) announced that its subsidiary, Elbit Systems Sweden AB, secured a $48 million contract from the Swedish Defence Materiel Administration to supply Technical High Mobility Shelters (THMS) over three years, with potential extensions. These tactical communication shelters will enhance the operational capabilities of the Swedish Army's command and control infrastructure. Haim Delmar, General Manager of Elbit System C4I & Cyber, emphasized the choice reflects the company's technological advantages. This contract underscores Elbit's commitment to expanding its domestic capabilities in Sweden.
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