BAE Systems Reiterates FY21 Outlook

Author: Akanksha | November 08, 2021 07:54am

• BAE Systems (OTC:BAESY) reaffirmed its FY21 guidance, with expected Sales to grow 3%-5% (2020: £20.86 billion) and on a Constant currency basis +5%-7%.
• BAE expects Underlying EBIT to grow 6%-8% (2020: £2.04 billion) and Constant currency 10%+; Underlying EPS to increase 3%-5% (2020: 44.3p).
• Free Cash Flow is expected to be >£1.0bn, and Cumulative FCF 2021-2023 to be >£4bn.
• The company will pay an interim dividend of 9.9 pence per share on 30 November 2021.
• BAE Systems noted US Intelligence & Security business continued to maintain a robust bid pipeline and was awarded multiple contracts in the second half to sustain its order backlog.
• "Our continued good operational performance underlines our confidence in the full year guidance for top line growth and margin expansion as well as our three-year cashflow target," said Charles Woodburn, Chief Executive.
• Price Action: BAESY closed higher by 1.17% at $31.26 on Friday.

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