Latest news with #BezhalelMachlis
Yahoo
3 days ago
- Business
- Yahoo
Elbit Systems Ltd. (ESLT) Secures $330M in Naval Defense Contracts
Elbit Systems Ltd. (NASDAQ:ESLT) has announced receiving several naval defense contracts from international customers, including NATO member states, with an aggregate value of $330 million. Pavel Vakhrushev/ These contracts cover a broad range of naval solutions, underscoring Elbit Systems Ltd. (NASDAQ:ESLT)'s growing role in strengthening the naval capabilities of customers worldwide. The award programs include the provision of electronic warfare solutions, advanced anti-submarine warfare systems, combat management systems, modernization and upgrade programs, and more. Elbit Systems Ltd. (NASDAQ:ESLT)'s naval portfolio continues to evolve amid robust demand for real-time intelligence, multi-domain integration, and resilient defense capabilities. The company's naval technologies are already in use by several countries worldwide. Bezhalel Machlis, President and CEO of Elbit Systems Ltd. (NASDAQ:ESLT), stated the following on the recent contract awards: "The maritime domain represents an important growth engine for Elbit Systems, combining our internally developed capabilities with the assets and expertise acquired through strategic acquisitions. These recent contract wins highlight the increasing recognition of our technological leadership and the strong confidence that leading naval forces place in our ability to deliver cutting-edge, mission-ready solutions that meet the demands of today's evolving operational landscape." The Israel-based defense technology company has seen its shares skyrocket by over 54% year-to-date, with high-value contracts such as these bolstering investor sentiment. It is one of the best performing stocks this year. While we acknowledge the potential of ESLT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ESLT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now. Disclosure: None.
Yahoo
3 days ago
- Business
- Yahoo
Elbit Systems Ltd. (ESLT) Secures $330M in Naval Defense Contracts
Elbit Systems Ltd. (NASDAQ:ESLT) has announced receiving several naval defense contracts from international customers, including NATO member states, with an aggregate value of $330 million. Pavel Vakhrushev/ These contracts cover a broad range of naval solutions, underscoring Elbit Systems Ltd. (NASDAQ:ESLT)'s growing role in strengthening the naval capabilities of customers worldwide. The award programs include the provision of electronic warfare solutions, advanced anti-submarine warfare systems, combat management systems, modernization and upgrade programs, and more. Elbit Systems Ltd. (NASDAQ:ESLT)'s naval portfolio continues to evolve amid robust demand for real-time intelligence, multi-domain integration, and resilient defense capabilities. The company's naval technologies are already in use by several countries worldwide. Bezhalel Machlis, President and CEO of Elbit Systems Ltd. (NASDAQ:ESLT), stated the following on the recent contract awards: "The maritime domain represents an important growth engine for Elbit Systems, combining our internally developed capabilities with the assets and expertise acquired through strategic acquisitions. These recent contract wins highlight the increasing recognition of our technological leadership and the strong confidence that leading naval forces place in our ability to deliver cutting-edge, mission-ready solutions that meet the demands of today's evolving operational landscape." The Israel-based defense technology company has seen its shares skyrocket by over 54% year-to-date, with high-value contracts such as these bolstering investor sentiment. It is one of the best performing stocks this year. While we acknowledge the potential of ESLT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ESLT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now. Disclosure: None. Sign in to access your portfolio
Mint
22-05-2025
- Business
- Mint
Israeli Defense Firm Elbit Sees More Business Coming From Europe
The head of one of Israel's biggest defense firms said Europe sales will keep growing, shrugging off calls for sanctions and trade restrictions over the war in Gaza. 'We see great business potential in Germany, the UK, Romania, Sweden and Denmark,' Bezhalel Machlis, chief executive officer of Elbit Systems, which makes rockets, drones and laser-based aerial defense systems for the Israeli army, told Bloomberg in a phone interview. With Europe under pressure to beef up defense budgets with the war in Ukraine now in its fourth year and a new military operation underway in Gaza, Elbit is among the defense companies reporting more business. Sales surged 22% in the first quarter, helped by expanding military spending globally and in Europe in particular, its second-largest market. The stock has almost doubled in value in dollar terms in the past year. In a regulatory filing this morning the company said it had raised $512 million in an overnight sale of shares. Still, with relations between Israel and European nations souring because of the assault on Gaza, there's a risk that future sales may be affected. The UK has warned it is pausing a free trade agreement talks with Israel and Spain's foreign minister has pushed for tougher action. European Officials Step Up Pressure on Israel Over Gaza War European sales make up almost 30% of total consolidated revenues for Elbit. The European Union is planning hundreds of billions of euros of military spending since the US administration made clear it would no longer be the main guarantor of Europe's safety. The latest talk around ceasefire negotiations between Russia and Ukraine isn't prompting Machlis to temper his bullish growth predictions. Regardless of the outcome, Europe will have to lift its spending, he said. 'European leaders understand that ramping up defense budgets creates deterrence,' Machlis said. 'They also realize they need to have much more independent capabilities and be less dependent on the US.' This article was generated from an automated news agency feed without modifications to text.
Bloomberg
22-05-2025
- Business
- Bloomberg
Israeli Defense Firm Elbit Sees More Business Coming From Europe
The head of one of Israel's biggest defense firms said Europe sales will keep growing, shrugging off calls for sanctions and trade restrictions over the war in Gaza. 'We see great business potential in Germany, the UK, Romania, Sweden and Denmark,' Bezhalel Machlis, chief executive officer of Elbit Systems, which makes rockets, drones and laser-based aerial defense systems for the Israeli army, told Bloomberg in a phone interview.
Yahoo
20-05-2025
- Business
- Yahoo
Elbit Systems (ESLT) Reports a Robust Q1 2025 Amidst Growing Defense Spending
On May 20, Elbit Systems Ltd. (NASDAQ:ESLT) reported results for the fiscal first quarter of 2025. It operates as an international defense company, which has seen significant growth amidst rising global defense demands and ongoing regional conflicts. As a result, the stock has gained more than 50% on a year-to-date basis. An unmanned aircraft system in the sky, its silhouette illuminated in the night light. Elbit Systems Ltd. (NASDAQ:ESLT) grew its revenue by 22% year-over-year to $1.9 billion, marking the fourth consecutive quarter of double-digit growth. This was driven by robust performance across all its business segments. The Land segment was notable with 48% year-over-year growth, driven by ammunition and munition sales in Israel and Europe. In addition, GAAP net income also grew from $73.7 million a year ago to $107.1 million in Q1 2025. Bezhalel Machlis, President and CEO of Elbit Systems Ltd. (NASDAQ:ESLT), highlighted that the company is strategically positioned to benefit from rising defense budgets, particularly in Europe. This is complemented by the well-established subsidiaries and recent contract wins. Notably, the order backlog of Elbit Systems Ltd. (NASDAQ:ESLT) increased 14% year-over-year to $23.1 billion. Management noted that around 66% of this backlog is from outside Israel, with about 51% scheduled for completion in 2025 and 2026. While we acknowledge the potential of ESLT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ESLT and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
