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BAE Systems upgrades forecasts as defence orders at record

The company was well-positioned to deliver sustained growth in the coming years, he added, with a record order backlog of 66.2 billion pounds ($84.5 billion).

Hargreaves Lansdown analyst Aarin Chiekrie said more progress was expected.

“With some of its biggest buyers, the UK, US and Europe, all expected to continue raising defence budgets over the coming years, the sky really is the limit,” the analyst said.

appel ,

Horrendous

autotldr Bot ,

This is the best summary I could come up with:

LONDON, Aug 2 (Reuters) - Britain’s biggest defence company BAE Systems (BAES.L) upgraded its earnings guidance for 2023 to growth of 10%-12%, saying increased global uncertainty had driven military equipment orders to a record level.

BAE Systems said its strong operational performance plus demand from its customers - the biggest of which in order of size are the United States, Britain, Saudi Arabia and Australia - meant its full-year results would be better than expected across the board.

For 2023, BAE, which makes submarines, fighter jets, combat vehicles and other kit, said earnings per share would grow 10%-12%, compared to the 5%-7% increase it had forecast in February, while it also lifted sales guidance to 5%-7% growth from 3%-5%.

Chief Executive Charles Woodburn said BAE’s broad spread was key to its growth, highlighting its provision of defence across the air, sea, land, space and cyber theatres of war.

During the period, BAE won an order from the Czech Republic for 246 infantry fighting vehicles and its MBDA unit was contracted by Poland to supply missiles and launchers.

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