BAE Systems Says Order Flow Is Strong; Backs Guidance
November 13 2023 - 1:53AM
Dow Jones News
By Anthony O. Goriainoff
BAE Systems said order flow on new and existing programs remains
strong, and backed its guidance for the year.
The U.K. defense-and-aerospace group said Monday that renewals
and progress within its pipeline was strong and underpinned
expectations for good top-line growth in the coming years.
BAE said it was experiencing another year of strong order intake
with over 30 billion pounds ($36.68 billion) booked in the year to
date.
The company said its high order flow reflected continued
customer confidence.
In August, the board raised its sales growth guidance to a 5% to
7% range from previous guidance of 3% to 5%, compared with sales of
GBP23.26 billion in 2022. Underlying earnings before interest and
taxes are now seen rising by between 6% and 8%, up from a range of
4% to 6%. Growth for underlying earnings per share guidance is seen
within a 10% to 12% range.
"We are delivering another year of good sales and earnings
growth, together with strong cash flow generation," Chief Executive
Charles Woodburn said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 13, 2023 02:38 ET (07:38 GMT)
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