BAE Systems, the U.K. defense-and-aerospace group, announced that it continues to see a robust order flow on both new and existing programs. The company expressed confidence in its pipeline, which is driving expectations for solid top-line growth in the future.
This year has been marked by another year of strong order intake for BAE Systems, with over £30 billion ($36.68 billion) in bookings so far. The company attributes this high order flow to the ongoing confidence of its customers.
In August, the board revised its sales growth guidance, pushing it to a range of 5% to 7%, up from the previous range of 3% to 5%. Sales in 2022 amounted to £23.26 billion. BAE Systems also anticipates an increase of 6% to 8% in underlying earnings before interest and taxes, compared to the earlier range of 4% to 6%. Additionally, the guidance for underlying earnings per share reflects a growth range of 10% to 12%.
Chief Executive Charles Woodburn expressed his satisfaction with the company’s performance, stating, “We are achieving strong sales and earnings growth, while also generating healthy cash flow.”