Elbit Wins ~$200M Asia-Pacific Airborne ISTAR and Training Contracts
ESLT sits 60% above its 52-week low of $453.
Summary
Elbit landed roughly $200 million in contracts from an Asia-Pacific country to supply airborne ISTAR and training solutions, performed over up to five years. The package covers the SPECTRO 12 multispectral ISR and targeting payload for helicopters, follow-on support and upgrades for airborne live training systems, and advanced Head-Up Display systems. This is the third sizable award in about eight weeks, following the ~$270 million ISR and targeting deal on September 1 and the ~$235 million EXTRA-MR/PULS rocket contract on October 19, reinforcing the order intake trend behind the $32.0 billion backlog reported with Q2 results. At this company's size the award is meaningful but not thesis-changing on its own; the cumulative run of bookings is the more important read. Q3 results will show whether this pace is flowing into revenue and backlog.
At the time of this announcement, ESLT was trading at $727.00 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $34.5B. 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.