Elbit Systems' Grabs Fresh $210M Israeli Defense Order On Top Of A Record Backlog

• The contract value is roughly $210 million, scheduled to unfold across six years.
• Under the program, Elbit will revamp core electronic assemblies that support Merkava tank’s functionality.
• Elbit had a record backlog of $25.2 billion at the end of the third quarter.

Elbit Systems (ESLT) announced on Wednesday that it has secured a series of new defense contracts from Israel’s Ministry of Defense. The agreements center on extensive improvements to the Merkava Main Battle Tank fleet and will be carried out over several years.

Contract Scope and Timeline

The company said the combined value of the awards reaches roughly $210 million, marking a sizable commitment to long-term upgrades of the tank platform. The work is scheduled to unfold across six years.

Following the announcement, Elbit Systems’ stock traded over 3% higher in Wednesday’s premarket. On Stocktwits, retail sentiment around the stock shifted to ‘neutral’ from ‘bearish’ territory the previous day. Message volume improved to ‘extremely high’ from ‘high’ levels in 24 hours. 

System Overhauls 

Under the program, Elbit will revamp core electronic assemblies that support the tank’s functionality, allowing the armored vehicles to remain in service for an extended operational lifespan. 

A major part of the plan focuses on integrating new electro-optical technology that uses lightweight, AI-enabled systems. These upgraded units give crews improved day and night visibility, panoramic observation, and advanced tools for identifying and tracking threats. 

The fresh order comes even as the defense contractor reported a record backlog of $25.2 billion at the end of the third quarter. The company’s Q3 revenue increased 11% year-on-year to $1.92 billion. 

On Monday, the company landed a massive $2.3 billion international contract to be delivered over 8 years. 

ESLT stock has gained over 95% year-to-date and over 101% in the last 12 months. 

Also See: Why Did DGNX Stock Surge 13% Today?

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