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 Ltd (NASDAQ: ESLT) announced a follow-on contract worth $19 million with the British Army for Night Vision Goggles (NVG) and support services. This contract will be executed over an 18-month period, providing XACT nv33 NVGs in a helmet-mounted configuration, enhancing operational effectiveness in low-light conditions. The successful delivery of previous goggles reinforced Elbit Systems UK's reputation for efficiency and advanced technology within NATO forces.
Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $25 million contract from the Finnish Ministry of Defence. This contract, set to be executed over two years, entails supplying advanced secured radio communications systems for the Finnish Army. The systems will enhance tactical command and fire control, while being backward compatible with existing analogue equipment. Elbit's military communication solutions are already in use by several NATO countries, reflecting its strong presence in the European defense sector.
Elbit Systems Ltd (NASDAQ: ESLT) will release its third quarter 2022 financial results on November 29, 2022. A conference call is scheduled for the same day at 9:00am ET, where management will discuss the results and address investor questions. The call will be accessible via various dialing options for U.S., Canada, Israel, and international participants. Additionally, it will be streamed live on the company's website, with a replay available afterward.
Elbit Systems Ltd (NASDAQ: ESLT) announced a contract worth approximately $215 million to deliver an aerial intelligence solution to an Asia-Pacific nation. The contract is set to be fulfilled over two years, reflecting Elbit's technological prowess and customer confidence. This deal underlines the company's strategic focus on defense and security solutions.
Elbit Systems Ltd (NASDAQ: ESLT) announced that its subsidiary, Sparton De Leon Springs LLC, along with two other companies, received an estimated aggregate joint ceiling of $5.1 billion for modifications to a previous indefinite-delivery/indefinite-quantity (ID/IQ) contract to supply sonobuoy capabilities to the U.S. Navy. No funds were obligated at the time of the award, and individual orders will dictate when funds are allocated. The award emphasizes competitive opportunities, but there's uncertainty regarding the timing and value of future orders.
Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $65 million contract to provide a modernization solution for a Latin American Army. This contract, spanning two and a half years, marks the supply of the first fully networked mechanized brigade solution in the region, part of the army's modernization initiative. The solution includes 4X4 and 6X6 armored vehicles equipped with E-LynX™ Software Defined Radio technology and MAGNI mini-UAVs. This award reinforces Elbit's position in combat networked warfare as recognized by military forces.
Elbit Systems (NASDAQ: ESLT) announced a $107 million order from its U.S. subsidiary for Enhanced Night Vision Goggle – Binocular (ENVG-B) systems and support for the U.S. Army. Delivery will occur in 2023 and 2024. This order is part of a broader OTA contract from 2020 that could total $442 million. The ENVG-B features advanced night vision and situational awareness tools, allowing soldiers to perform efficiently in low visibility conditions. CEO Bezhalel Machlis highlighted the order as a testament to the quality of their technologies.
Elbit Systems Ltd (NASDAQ:ESLT) has been awarded a $120 million contract by the Royal Thai Navy to supply Hermes™ 900 Maritime Unmanned Aircraft Systems (UAS) and training over a three-year period. This contract includes advanced capabilities such as maritime radar, Electro Optic payloads, and Satellite Communication, enhancing the Navy's operational capacity for maritime missions. The Hermes 900 UAS has been selected by over 20 global customers, showcasing its competitive edge and reliability.
Elbit Systems Ltd (NASDAQ: ESLT) announced an extension of its shelf prospectus by 12 months, now valid until September 29, 2023, as approved by the Israel Securities Authority. The company has not made any decisions regarding a securities offering under this prospectus, nor the terms or timing of any potential offerings. Any offered securities will not be registered under the U.S. Securities Act and may only be offered in Israel unless specified otherwise. This announcement does not constitute a solicitation to buy or sell securities.
Elbit Systems Ltd. (NASDAQ: ESLT) announced a contract worth $80 million to supply unmanned turrets for Armoured Fighting Vehicles in an Asian-Pacific country. This contract, spanning three years, involves providing 30mm-gun unmanned light turrets that enhance situational awareness and target acquisition. Yehuda Vered, General Manager of Elbit Systems Land, highlighted the company's strong position to meet increasing military demands for improved armored platform capabilities. The contract reflects ongoing growth in defense spending globally.
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?
