Elbit Systems Reports Impact on its Third Quarter 2020 Financial Results Due to COVID-19
Elbit Systems Ltd. - Ordinary Shares (ESLT)
Last elbit systems ltd. - ordinary shares earnings: 3/25 04:11 am
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US:NASDAQ Investor Relations:
ir.elbitsystems.com
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Source: PR Newswire
HAIFA, Israel, Oct. 26, 2020 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that, as a result of the impact of the COVID-19 pandemic, Elbit Systems experienced reduced demand for the products and services it supplies to the commercial aviation markets. The significant slowdown in commercial air traffic, and the expectation that a commercial air traffic recovery to 2019 levels will likely take a number of years, have reduced the demand for products and services for the commercial aviation markets. Additionally, manufacturers of aircraft for these markets have announced plans to reduce production rates to adapt to the lower demand. Following a review of the economic impact on the Company's assets overall, and those assets impacted by the commercial aviation industry in particular, the Company expects to record in the third quarter of 2020 non-cash expenses related to impairment of assets and inventory write-offs, due to
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Sec Filings
- 4/17/24 - Form 6-K
- 4/1/24 - Form 6-K
- 3/28/24 - Form 6-K
- ESLT's page on the SEC website