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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing