BAE Systems Shares Edge Higher As FY Guidance Reconfirmed [Forbes]
BAE SYSTEMS PLC S/ADR (BAESY)
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Source: Forbes
At £13.90 per share, the BAE Systems share price was 0.6% higher in Thursday's session. The company said it remains on course to grow sales between 10% and 12% in 2024, while underlying earnings before interest and tax (EBIT) is tipped to increase between 11% and 13%. Full-year free cash flow is predicted to be greater than £1.3 billion. This came in at £2.6 billion in 2023. Cumulative free cash flow between 2024 and 2026 is still expected to total above £5 billion. Strong Demand PROMOTED Demand for BAE Systems' hardware is soaring, with Western governments ramping up defence spending following Russia's invasion of Ukraine just over two years ago. The company's share price has soared around 150% since the start of 2022 as revenues and orders have rocketed. Last year, the business reported record orders of £37.7 billion, up around £600 million year on year. As a consequence, its order backlog to £69.8 billion, a substantial improvement from £58.9 billion a year earlier
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