BAE Systems earnings

BAE Systems reported a strong first half of 2024, with underlying sales and profit both rising by 13% to £13.4 billion and £1.4 billion, respectively, prompting the company to upgrade its full-year guidance. The defense firm now expects sales and underlying operating profits to increase by 12-14%, up from previous estimates of 10-12% and 11-13%. CEO Charles Woodburn highlighted the company's solid operational performance and ongoing high demand for its products, despite a drop in order intake to £15.1 billion from £21.1 billion. Additionally, BAE's interim dividend was raised by 8% to 12.4p per share. The growth was partly driven by the $5.6 billion acquisition of Ball Aerospace, which has expanded BAE's capabilities in the aerospace sector. The firm is optimistic about sustained growth, focusing on investments in technology and key defense programs such as AUKUS and next-generation combat aircraft.