BAE Systems Says Order Flow Is Strong; Backs Guidance

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 [e-mail]

(END) Dow Jones Newswires

November 13, 2023 02:38 ET (07:38 GMT)

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