$235M European Order for EXTRA-MR Rockets and PULS Launchers
ESLT sits 66% above its 52-week low of $453.
Summary
Elbit won a roughly $235 million contract to supply EXTRA-MR precision rockets and PULS rocket artillery launchers to a European customer, arranged government-to-government between Israel's and the buyer's defense ministries. Work runs three years, so the revenue spreads out rather than landing in one quarter. It is a modest slice of the $32.0 billion backlog reported at June 30, but it extends the run of European and NATO orders for PULS and follows the roughly $270 million ISR and targeting contract announced September 1. The deal reinforces the international demand story management has been selling, though at this size it is unlikely to shift full-year estimates on its own.
At the time of this announcement, ESLT was trading at $753.18 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $35.4B. The 52-week trading range was $453.00 to $1,016.06. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.