Elbit Systems Wins $260 Million Contract to Supply PULS Systems to NATO Member
Key Facts
Elbit Systems announced on November 12 that it had won a contract worth about $260 million to supply PULS rocket artillery systems and munitions to a European member of NATO. The contract is scheduled to be carried out over five years, the company said. Elbit did not disclose the buyer's name or the agreed delivery volume. The contract adds new work to the company's rocket artillery systems business, with execution spread over multiple years. Chief Executive Bezalel Machlis said the selection of the system by European and NATO customers reflects "its operational maturity, versatility and ability to meet the changing requirements of modern armed forces."
According to Elbit, the PULS system can fire unguided rockets, precision-guided munitions and rockets with different ranges. These options allow the launcher to use multiple types of munitions, the company said. It also said the launcher can be mounted on existing wheeled or tracked platforms. The company believes using existing platforms can significantly reduce maintenance and training costs. Elbit links this flexibility to the system's ability to meet the changing requirements of armed forces, a point Machlis made in his comments on its selection by European and NATO customers.
The announcement follows other European contracts related to the PULS system during 2026. In April, Elbit announced a contract worth about $750 million, or 650 million euros, to supply the system to the Greek Armed Forces, as part of an agreement between the Israeli and Greek defense ministries. That contract was scheduled to be carried out over four years, followed by ten additional years of support. On October 19, the company announced a separate European contract worth about $235 million to supply EXTRA-MR rockets and PULS systems under a government-to-government agreement with the customer country. The October contract was scheduled to be carried out over three years and included PULS launchers, platforms associated with rocket artillery and integrated logistical support.
Financial data cited by the company in its contract announcement show revenue of $2,287.1 million for the quarter ended June 30, 2026. The order backlog stood at $32.0 billion on the same date. The backlog had stood at $30.2 billion on March 31, and the company said about 71% of it represented orders from outside Israel. It also reported that about 49% of the backlog recorded at the end of March was scheduled for execution during the remainder of 2026 and in 2027. These figures place the new contract in the context of the company's accumulated work and the announced schedule for fulfilling part of its orders.
In its first-quarter 2026 results, Elbit said revenue in its land systems segment rose 27% from the year-earlier period, attributing the increase mainly to munitions sales in Israel and Europe. The company also warned in its report of operational and supply-chain disruptions, including higher transportation costs, delays, shortages of materials and components, and rising prices. It said the effects of these disruptions had eased after ceasefire agreements, but could rise again depending on developments and the stability of those arrangements. The new contract announcement does not specify the deal's effect on revenue or profit. Elbit is scheduled to report third-quarter results on November 17, 2026, and hold a call to discuss them at 9:00 a.m. Eastern Time.
The company's shares, listed under the ticker ESLT, closed at $725.44 on November 11, according to EL7 data. The closing price preceded the company's announcement of the contract on November 12. Verified data on the stock's high or low during the November 11 session are not available here. The closing price alone also does not establish that the stock's movement during that session was a response to the deal. The third-quarter results are due on November 17, five days after the contract announcement.