Trending: BAE Systems Revenue, Profit Rises as Geopolitical Tensions Continue
1305 GMT - BAE Systems is among the most mentioned companies across news items over the past four hours, according to Factiva data. The U.K. defense-and-aerospace group reported a rise in pretax profit and revenue with 2023 sales reaching GBP25.28 billion, on higher order intake and a stronger order book as of Dec. 31. The company was well positioned to benefit from the geopolitical landscape and increasing defense spending, particularly in eastern Europe and the Baltic region, Quilter Cheviot analyst Jarek Pominkiewicz said. The company also guided for sales in 2024 to grow 10% to 12% and underlying earnings per share to grow 6% to 8% with free cash flow of more than GBP1.3 billion. The new guidance suggests 2024 will be a strong year, Shore Capital analyst Jamie Murray said, noting that management expects European and allied governments to further lift their defense spending. Dow Jones & Co. owns Factiva. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
February 21, 2024 08:21 ET (13:21 GMT)
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