Elbit Systems (ESLT) Jumps on $2.3 Billion Contract Win as Q3 Earnings Loom

Elbit Systems Ltd. (NASDAQ: ESLT; TASE: ESLT) is back in the global spotlight today after announcing a massive $2.3 billion international defense contract, sending the stock sharply higher just one day before its third‑quarter 2025 earnings report.

The deal, disclosed via a company press release that was also filed with the U.S. Securities and Exchange Commission on Form 6‑K, covers a long‑term “strategic solution” to be delivered over eight years, with the customer and exact systems undisclosed. ^[1]

At the same time, Elbit is in the news for new deliveries to the British Army, fresh institutional buying of ESLT shares, an upgraded domestic credit rating, and renewed political scrutiny of its role in global arms exports. ^[2]

Below is a full rundown of all the key Elbit Systems developments making news on 17 November 2025 and what they could mean ahead of tomorrow’s earnings release.

$2.3 Billion International Contract: What We Know So Far

Elbit Systems confirmed today that it has signed an international contract for a “strategic solution” valued at approximately $2.3 billion, to be executed over eight years. ^[3]

The announcement, made in a company press release dated November 17 and attached as Exhibit 1 to a new 6‑K filing with the SEC, is deliberately light on details:

The customer country is not named.
The contract is described only as a “strategic solution,” a phrase used in the MarketScreener and GuruFocus summaries of the press release. ^[4]
The deal will be recognized over eight years, suggesting a large, multi‑system program rather than a one‑off delivery. ^[5]

Financially, this is a significant addition to a company that already reported a record order backlog of $23.8 billion as of Q2 2025. ^[6]

Possible link to advanced laser and air‑defense technology

Investor and defense‑industry coverage today has tied the announcement to Elbit’s growing portfolio of cutting‑edge systems:

Investor’s Business Daily reports that the $2.3 billion contract was awarded by an unnamed foreign country and emphasizes Elbit’s “unique” high‑energy laser capabilities, including an aerial laser pod designed to intercept ballistic missiles using coherent beamforming. ^[7]
The same article notes Elbit’s earlier $200 million contract tied to Israel’s Iron Beam high‑energy laser program, positioning the company as a leading player in directed‑energy air defense. ^[8]

Elbit itself has not publicly confirmed that the new $2.3 billion deal is laser‑related, so any connection remains speculative. The only officially confirmed facts are the size of the contract, its international nature, and its eight‑year duration.

Market Reaction: ESLT Shares Spike on Contract News

Elbit Systems’ stock has reacted strongly on both the Tel Aviv Stock Exchange and the Nasdaq.

On the TASE, MarketScreener data show the shares trading around 166,500 Israeli shekels, up roughly 7% on the day. ^[9]
In New York, ESLT is changing hands near $511 per share this afternoon, up about 8% versus Friday’s close, after earlier jumping more than 9% in U.S. pre‑market trading, according to Investing.com. ^[10]

Several factors appear to be driving the move:

Multi‑year revenue visibility
The eight‑year term of the new contract effectively locks in a substantial revenue stream well into the 2030s, reinforcing a backlog that was already nearly three times Elbit’s annual sales. ^[11]
Momentum ahead of Q3 earnings
Traders often bid up defense names ahead of big contracts and earnings. Technical‑focused outlets such as Investor’s Business Daily note that the stock has reclaimed key moving averages and could be forming a fresh base after hitting a 52‑week high earlier this autumn. ^[12]
Rich valuation backdrop
GuruFocus estimates Elbit’s trailing P/E ratio in the mid‑50s, well above its historical median near 29, with a price‑to‑sales ratio close to decade highs. ^[13] That suggests investors are already paying up for growth and contract visibility, making today’s news a confirmation more than a surprise.

Note: All price and valuation figures are approximate and may change intraday. Nothing in this article is investment advice; always do your own research or consult a licensed financial professional.

Big Money Moves: Y.D. More and Waratah Expand ESLT Stakes

Today’s contract win lands against a backdrop of increasing institutional interest in Elbit Systems.

Two new MarketBeat filings published November 17, 2025 highlight large second‑quarter stake increases:

Y.D. More Investments Ltd
- Boosted its ESLT position by 35.1% in Q2, to 610,977 shares.
- Elbit now makes up 18.6% of the fund’s portfolio and represents about 1.37% of Elbit’s outstanding shares, with a stake valued at roughly $271 million at the time of the filing. ^[14]
Waratah Capital Advisors Ltd.
- Increased its holding by a striking 533.9%, buying nearly 13,900 additional shares to reach 16,475 shares, valued around $7.4 million. ^[15]

Both MarketBeat pieces also highlight:

Institutional ownership around 18–23% of the float, depending on the data provider. ^[16]
A mixed but generally positive analyst stance, with a consensus price target around $530 and at least one major bank (Bank of America) carrying a Buy rating and a $540 target, while JPMorgan reportedly sits at Neutral with a $520 target. ^[17]

In other words, well before today’s news, both hedge funds and traditional asset managers were quietly leaning further into the name, betting that Elbit’s expanding backlog and European order book would sustain growth.

Operational Updates: UK Ground Surveillance Radars and Moldovan Artillery

Not all of today’s Elbit news is about the headline contract. On the operational front, the company and its subsidiaries are rolling out systems across Europe.

Elbit Systems UK delivers new Ground Based Surveillance Radars

Defense outlet Calibre Defence reports that Elbit Systems UK has delivered the first Ground Based Surveillance Radar (GBSR) units to the UK’s Royal Artillery under a £14 million contract awarded in 2023. ^[18]

Key details from that report:

The initial award covered 50 radars, and the broader British Army program is expected to total 90 systems with an additional 15 ordered later, for about 105 units overall. ^[19]
The new GBSR will replace the legacy M‑STAR radar that has been in service since 1991, bringing improved detection ranges—up to 40 km for personnel and about 25 km for tanks, according to the article. ^[20]
The radar uses frequency‑modulated continuous wave (FMCW) technology and is optimized to detect and classify people and vehicles, as well as support artillery fire correction. ^[21]

The system is already fielded with several NATO allies, underlining Elbit’s role in modernizing European ground forces amid heightened security concerns following Russia’s invasion of Ukraine.

Moldova moves to Israeli ATMOS howitzers

A separate report from defense publication Overt Defense notes that Moldova is transitioning from Soviet‑era artillery to modern Israeli‑made ATMOS 155 mm howitzers, supplied by Elbit Systems. ^[22]

According to that coverage:

The new ATMOS self‑propelled howitzers will replace older D‑30 and 2A36 Giatsint‑B artillery pieces. ^[23]
The move is framed as part of a broader push by Moldova to align more closely with NATO standards and improve its deterrence posture.

This combination of radar and artillery sales in Europe reinforces a pattern already visible in Elbit’s Q2 results, where management highlighted strong land‑segment revenue growth and a surge in European demand. ^[24]

Political Backdrop and Controversy: UK Activist Trial and Albania Deal

Elbit’s global footprint also draws political opposition and legal challenges, several of which surfaced in today’s news cycle.

Six activists on trial in the UK over 2024 Elbit site break‑in

The Times of Israel reports that six activists linked to the “Palestine Action” group went on trial today at Woolwich Crown Court in London, accused of breaking into an Elbit Systems‑related site in Bristol in August 2024. ^[25]

According to the report:

Prosecutors allege the group used sledgehammers to cause more than £1 million in damage at premises associated with Elbit Systems. ^[26]
The defendants face charges including aggravated burglary, criminal damage, and violent disorder. ^[27]
A small crowd of supporters gathered outside the court, chanting slogans such as “Free Palestine.” ^[28]

The case underscores how Elbit has become a focal point for activist campaigns against Israeli arms exports, particularly in the UK, where protesters have repeatedly targeted company sites and suppliers.

Reported Israel–Albania weapons deal with Elbit in a leading role

Regional outlet The Cradle reports that Israel has signed a weapons deal with Albania aimed at boosting domestic arms production, describing Elbit Systems as leading the agreement. ^[29]

The article frames the deal as part of a broader trend of governments resuming business with Israel after a Gaza ceasefire, though specific contract values and system types have not been widely disclosed as of this writing.

Because neither Elbit nor the Albanian government has released detailed public terms, this development should be treated as early-stage and partially unconfirmed beyond the existence of some form of industrial cooperation.

Fundamentals Check: Backlog, Credit Rating and Q2 Performance

Today’s excitement comes on top of a fundamental story that has been strengthening through 2024–2025.

Q2 2025 results: record backlog and strong growth

In its Q2 2025 earnings release (13 August), Elbit Systems reported: ^[30]

Revenue of about $2.0 billion, up 21% year‑on‑year.
GAAP net income of $125.7 million and non‑GAAP net income of $151.0 million.
GAAP EPS of $2.69 and non‑GAAP EPS of $3.23, beating consensus expectations of around $2.57.
An order backlog of $23.8 billion, with roughly two‑thirds of that backlog coming from international customers.

Management highlighted especially strong growth in:

The Land segment (helped by artillery, precision munitions and armored vehicle solutions).
C4I and Cyber systems, particularly radios and command‑and‑control platforms in Israel and Europe. ^[31]

Credit rating upgrade in June 2025

Reflecting this improved performance, S&P Global Ratings Maalot, the main Israeli credit rating agency, raised Elbit’s long‑term local rating to “ilAA+” with a stable outlook in June 2025, while affirming a short‑term “ilA‑1+” rating on its commercial paper. ^[32]

In its rationale, Maalot cited:

Record backlog and strong demand tied to heightened geopolitical tensions.
Solid operating performance and scale across multiple defense domains. ^[33]

That rating action strengthens Elbit’s hand in local capital markets, where it has issued multiple bond series.

Q3 2025 Earnings Preview: What to Watch Tomorrow

Elbit Systems is scheduled to report Q3 2025 results before the U.S. market opens on Tuesday, 18 November 2025, followed by a conference call at 9:00 a.m. ET. ^[34]

Across major data providers, expectations cluster around:

EPS: roughly $2.7–2.8 per share (Benzinga: $2.74; MarketBeat: $2.75; Seeking Alpha preview: $2.73, implying ~23–24% YoY growth). ^[35]
Revenue: about $1.98–2.0 billion, representing mid‑teens growth year‑on‑year. ^[36]

Investor commentary today is focused on a few key questions:

How much of the $2.3B contract is already in backlog?
If the newly announced deal is fully incremental, it could push the backlog well above $25 billion, extending revenue visibility even further.
Margins and cash flow
In Q2, Elbit delivered robust earnings growth alongside better cash generation. Analysts will look for confirmation that higher volumes and mix improvements (e.g., land and C4I) continue to support margin expansion. ^[37]
Europe and directed‑energy pipeline
With European radar, artillery and air‑defense programs accelerating, and media attention on laser‑based interceptors, any qualitative remarks about future large contracts could be as important as the headline numbers. ^[38]
Order intake versus deliveries
Investors will be watching whether order intake continues to outpace revenue, which would support further backlog growth even after the big contract win.

Bigger Picture: Why Elbit Systems Matters Right Now

Stepping back from today’s headlines, several themes now define the Elbit Systems story:

Global defense super‑cycle
With NATO states rearming, Eastern European militaries replacing Soviet‑era kits, and Middle Eastern tensions remaining elevated, Elbit operates in a market of structurally higher demand. ^[39]
Diversified technology base
From drones and C4I systems to artillery, radar and emerging high‑energy laser solutions, the company sells into multiple domains and platforms, reducing reliance on any single program. ^[40]
Contested reputation
At the same time, Elbit’s role in Israeli military operations and border security ensures it remains a focal point for activist groups and political debates over arms exports, as the Bristol trial in the UK illustrates. ^[41]

For investors, policymakers and observers alike, today’s $2.3 billion contract and the strong market reaction underline just how central Elbit has become to the evolving global defense landscape—and how closely its moves will be watched when Q3 numbers hit tomorrow.

This article is for informational purposes only and does not constitute investment, legal, or political advice. Always consult appropriate professionals before making financial or policy decisions.

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