BAE
Systems
(BA.)
beat
its
earnings
guidance
in
2023,
according
to
its
2023
full
year
results.
The
defence
contractor
reported
soaring
profit
and
revenue
growth,
and
a
larger
order
book
amid
increased
global
interest
for
its
weapons
systems.
BAE
Systems,
which
manufactures
defence,
aerospace
and
security
solutions,
says
pretax
profit
climbed
17%
to
£2.33
billion
in
2023
from
£1.99
billion
a
year
prior.
Revenue
grew
8.6%
to
£23.08
billion
from
£21.26
billion.
Following
the
strong
results,
BAE
is
increasing
its
dividend.
It
recommends
a
final
dividend
per
share
of
18.5p
for
2023,
taking
the
total
to
30.0p,
up
11%
from
27.0p
paid
for
2022.
The
order
book
meanwhile
rose
19%
to
£58.0
billion
from
£48.9
billion.
The
company
cites
M777
deployments
to
Ukraine
and
increased
interest
from
armies
around
the
world.
In
the
report,
the
company
says:
“Our
investments
in
core
franchises
and
our
next-generation
priorities
such
as:
space;
autonomy;
sustainability;
advanced
manufacturing;
and
multi-domain
and
digital
integration,
are
driven
by
the
evolving
threat
landscape.
“At
a
tactical
level,
the
conflict
in
Ukraine
is
highlighting
the
importance
of
a
number
of
these
key
technologies,
especially
autonomy,
synthetic
training,
digital
and
multi-domain
capabilities,
while
also
reinforcing
the
critical
need
for
munitions
and
maintaining
legacy
capabilities.”
Looking
ahead,
the
company
cited
a
“robust”
outlook
for
its
US
government
services
sector
in
Intelligence
&
Security,
with
the
opportunity
for
mid-term
growth
despite
highly
competitive
market
conditions.
BAE
shares
fell
around
3%
to
£12.11
each
on
Wednesday
morning
in
London.
Read
more:
Top
FTSE
100
Dividend
Paying
Stocks
Key
Morningstar
Metrics
for
BAE
Systems
•
Fair
Value
Estimate:
£11.70
•
Current
Price:
£12.11
•
Morningstar
Rating:
★★★
•
Morningstar
Economic
Moat
Rating:
Wide
•
Morningstar
Uncertainty
Rating:
Medium
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