HAIFA, Israel, April 30, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today it was awarded a contract in an amount of approximately $50 million for its new air defense system, "Red Sky"™, by an international customer. The contract will be executed over a period of 2 years. The Red Sky is a Tactical Very Short-range Air Defense (VSHORAD) System designed to provide protection against low-altitude aerial threats. As part of the contract, Elbit ...

HAIFA, Israel, April 17, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) and (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that its Extraordinary General Meeting of Shareholders (the "Meeting"), which was postponed to Thursday, April 18, 2024, from its originally scheduled date of Tuesday, April 9, 2024, has been further postponed in order to allow the Company time to consider additional comments received from the market with respect to the items on the Meeting agenda. The date and ...

 HAIFA, Israel, April 1, 2024 /PRNewswire/ -- On February 21, 2024, Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (the "Company") filed a Current Report on Form 6-K with the U.S. Securities and Exchange Commission and an equivalent report with the Tel Aviv Stock Exchange (the "Original Report") to report that the Company would convene an Extraordinary General Meeting of Shareholders on April 9, 2024 (the "Meeting").  Attached to the Original Report was a notice and proxy statement (the "Proxy Statement") f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) □ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2023 Commission File No. 0-28998 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE S ...

Financial Data and Key Metrics Changes - Fourth quarter revenues were $1.626 billion compared to $1.506 billion in the fourth quarter of 2022, with full-year revenues approximately $6 billion versus $5.5 billion last year [75] - Non-GAAP gross margin for the fourth quarter was 25.3% compared to 25.8% in the fourth quarter of 2022, while for the full year, it was 25.7% compared with 25.5% last year [76] - GAAP operating income for the fourth quarter was $68 million versus $120 million in the fourth quarter of 2022, with non-GAAP operating income in 2023 at $449 million, or 7.5% of revenues, compared to $367 million, or 6.7% of revenues last year [77] - Non-GAAP diluted EPS was $1.56 in the fourth quarter and $6.70 for the full year of 2023, compared to $1.71 in the fourth quarter of 2022 and $0.18 in 2022 [9] Business Line Data and Key Metrics Changes - C4I and Cyber revenues increased by 6% year-over-year, mainly due to C4I revenues in Asia Pacific, with operating income at $51 million and 7% of segment revenues [10] - ISTAR and EW revenues increased by 13% in 2023, mainly due to Electronic Warfare and Electro-Optic systems sales in Europe [10] - Land revenues increased by 12% in 2023 compared to 2022, with operating income at $81 million and 6.2% of segment revenues, significantly up from $29 million and 2.4% in 2022 [11] Market Data and Key Metrics Changes - In 2023, Europe contributed 30%, North America 24%, Asia Pacific 21%, and Israel 20% of revenues, with Israeli revenues reflecting increased demand due to the Swords of Iron War [6] - North America revenues were lower, mainly due to low airborne sales systems, while Asia Pacific revenues declined due to lower sales of precision-guided munitions [6] Company Strategy and Development Direction - The company continues to invest in building domestic subsidiaries in key markets to provide engineering, manufacturing, and support to local defense forces [15] - The strategy includes a multi-domestic approach to ensure stable growth and reduce risks during budget fluctuations [86] - The company is focused on operational transformation to support growth and improve performance, with significant investments in R&D [90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to realize potential and deliver on commitments, despite challenges posed by the current war in Israel [85] - The company plans to begin operations at new facilities in 2024, including an ammunition production site and a UAV facility [92] - Management noted that the current geopolitical tensions are driving significant investments in defense, which supports the company's growth [74] Other Important Information - The company reported a backlog of orders as of December 31, 2023, at $17.8 billion, with approximately 60% scheduled for performance during 2024 and 2025 [82] - The company declared a dividend of $0.50 per share [12] Q&A Session All Questions and Answers Question: Clarification on order flow strength from the Israeli MoD - Management confirmed strong demand from the Israeli Ministry of Defense, with significant orders contributing to the backlog growth [31] Question: Operating margin expansion and future outlook - Management indicated confidence in margin expansion in 2024 and beyond, supported by improved volume and performance in various segments [32] Question: Capacity for artillery volume growth - Management confirmed increased production capacity and employee recruitment to meet strong demand [39] Question: Working capital and inventory management - Management acknowledged the need for increased working capital to meet growing demand and emphasized close monitoring of inventory management [41] Question: Financial expenses and guarantees - Management explained that high financial expenses are tied to guarantees required for customer down payments and are working to reduce these costs [48] Question: UAV segment capacity and orders - Management highlighted growing demand for UAVs and the integration of various operational solutions, with new facilities being established to meet this demand [50] Question: Investment needs and future CapEx - Management indicated a potential reduction in CapEx investment in the coming years following the completion of major projects [61] Question: Growth segments and emerging threats - Management noted multiple growth engines across different segments, with solutions being developed for emerging threats like kamikaze drones [64] Question: Strategy for the Japanese market - Management acknowledged the importance of the Japanese market and indicated ongoing collaboration and opportunities despite recent challenges [66]

Earnings Release ELBIT SYSTEMS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Backlog of orders at $17.8 billion; Revenues of $6.0 billion; Non-GAAP net income of $299 million; GAAP net income of $215 million; Non-GAAP net EPS of $6.70; GAAP net EPS of $4.82 Haifa, Israel, March 26, 2024 – Elbit Systems Ltd. ("Elbit Systems" or the "Company") (NASDAQ and TASE: ESLT), the international high technology defense company, reported today its consolidated results for the fourth quarter and full year ended Decem ...

HAIFA, Israel, March 25, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it has been awarded a contract worth approximately $300 million to supply defense solutions to an international customer. The contract will be performed over a period of ten years. Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: " This contract further validates our position as a global leader in defense technology, delivering advanced solutions t ...

HAIFA, Israel , March 5, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that it expects to record non-cash expenses of approximately $52 million in the fourth quarter of 2023. The expenses are related to the write-off of inventory due to the closing of an underperforming subsidiary with limited synergies to the Company, and of contract assets related to a discontinued project managed under the subsidiary. Approximately $34 million of th ...

HAIFA, Israel, Feb. 26, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company"), announced today, following its announcement from August 16, 2023, that it was awarded a contract worth approximately $600 million to supply systems to Hanwha Defense Australia for the Australian Land 400 Phase 3 Project. This project aims to deliver advanced protection, fighting capabilities and sensors suite to the Redback Infantry Fighting Vehicles (IFV) for the Australian Army. ...

Conference Call Scheduled for March 26, 2024 at 9:00am ETHAIFA, Israel, Feb. 26, 2024 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it will be releasing its fourth quarter and full year 2023 financial results on Tuesday, March 26, 2024. Results Conference CallThe Company will host a conference call on March 26, 2024, at 9:00am Eastern Time. On the call, management will review and discuss the results and will be available to answer questions. To partici ...