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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 contract worth approximately $95 million with the Israeli Ministry of Defense to supply and maintain advanced electro-optical systems for the Israeli Defense Forces (IDF). This 10-year contract includes the provision of long-range deployable observation systems and tactical target acquisition systems, alongside maintenance services for the systems. Elbit's General Manager, Oren Sabag, emphasized that these systems enhance force protection and operational readiness in the field.
Elbit Systems Ltd (NASDAQ:ESLT) has been awarded a $70 million contract to supply 122mm extended-range rockets to a European country over the next three years. The rockets enhance operational effectiveness by allowing ground forces to concentrate fire at ranges up to 40 kilometers. They feature autonomous operation in various weather conditions and can be launched in under a minute. This development signifies a strategic expansion in Elbit's defense offerings, reinforcing its position in the global defense market.
Elbit Systems Ltd. (NASDAQ:ESLT) has received a $180 million contract from the Israeli Ministry of Defense to establish a new Mission Training Center for the Israeli Air Force's F-16 fleet. The contract spans three years, followed by an additional fifteen years for operation and maintenance services. This new center will enhance training efficiency, doubling training sorties for F-16 and F-15 crews. It will feature ten advanced simulators enabling realistic battlefield simulations, solidifying Elbit's position as a leader in military training systems.
On January 3, 2023, Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract worth $107 million with the Israeli Defense Forces (IDF) to develop simulation and training centers for the Armored Corps. The project includes operating and maintaining the centers over a three-year period, with an additional fifteen-year maintenance contract. The new facilities will utilize Elbit's OneSim™ technology, enabling advanced training for commanders and soldiers and supporting integrated combat scenarios.
Elbit Systems Ltd. (NASDAQ: ESLT) has secured a contract valued at approximately $36 million to supply four F-16 Full Mission Simulators to the Polish Air Force. This contract, to be executed over a 28-month period, aims to enhance pilot training and mission readiness through advanced simulation technology, including a 360-degree display system. The project will support PLAF pilots in achieving competency in various operational scenarios. This award underscores Elbit's position in the training and simulation market.
Elbit Systems Ltd. (NASDAQ: ESLT) has secured a framework contract valued at approximately $410 million to supply up to seven "Watchkeeper X" tactical unmanned aircraft systems (UAS) for the Romanian Ministry of National Defense. The contract is valid for five years, though no specific orders have been placed yet. The Watchkeeper X UAS, produced by Elbit's subsidiary U-TacS, is compatible with NATO standards, enhancing interoperability with allied forces. Elbit plans to boost local production and infrastructure in Romania as part of this contract.
Elbit Systems Ltd. (NASDAQ: ESLT) reported its Q3 2022 financial results, highlighting revenues of $1.35 billion and a GAAP net income of $56 million. The company has a significant backlog of orders totaling $14.7 billion, with 75% from international clients. Non-GAAP net income stood at $62.6 million, a decrease from the previous year's $103.1 million. Increased costs associated with stock price-linked compensation plans were noted, impacting earnings per share. Management anticipates gradual relief from supply chain and labor inflation pressures.
Elbit Systems Ltd. (NASDAQ: ESLT) held its Annual General Meeting on November 16, 2022, in Haifa, where shareholders approved key resolutions. These included the re-election of seven board members and the re-appointment of Kost, Forer, Gabbay & Kasierer as independent auditors for the fiscal year ending December 31, 2022. The meeting reaffirmed the company's governance structure as it continues to engage in defense and security programs globally, with a focus on innovation and technology advancement.
Elbit Systems Ltd (NASDAQ: ESLT) announced a significant contract worth approximately $200 million to supply Electronic Warfare and airborne laser technologies for military helicopters in the Asia-Pacific region. This four-year contract includes self-protection suites featuring Infra-Red Passive Airborne Warning Systems (PAWS IR) and Mini-MUSIC Direct Infra-Red Counter Measure (DIRCM) Systems, enhancing helicopter survivability against shoulder-fired missiles. The increasing global demand for airborne protection solutions positions Elbit Systems favorably in the defense market.
Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $72 million contract to supply Hermes™ 900 Unmanned Aircraft Systems (UAS) and training to an international customer. The contract spans two years and includes advanced capabilities such as the SkEye™ Wide Area Persistent Surveillance system and multi-spectral Electro-Optical payloads. With over 15 customers, the Hermes 900 UAS is recognized for its technological sophistication and integration potential with manned forces, addressing evolving global threats.
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