BAE Systems 2019 Pretax Profit, Sales Rose, But Fell Short of Market Views -- Earnings Review
By Matteo Castia
BAE Systems PLC on Thursday reported its results for 2019.
Here's what happened:
SALES: BAE Systems reported sales of 20.11 billion pounds
($26.08 billion) in 2019, or GBP18.31 billion on an IFRS
basis--which missed the consensus estimate from 15 analysts'
forecasts on FactSet for sales of GBP19.66 billion on an IFRS
basis. The company had booked sales of GBP18.41 billion, or
GBP16.82 billion on an IFRS basis, in 2018.
PRETAX PROFIT: A consensus estimate from five analysts'
forecasts on FactSet had expected BAE Systems to make a pretax
profit of GBP1.69 billion for 2019, a projection slightly above the
reported GBP1.63 billion. The company had posted a pretax profit of
GBP1.22 billion the previous year.
WHAT WE WATCHED:
-GPS & RADIO ACQUISITIONS: The company didn't provide any
update regarding the two proposed takeovers and said that its 2020
guidance excluded the potential impact of the acquisitions.
-F-35 JET FIGHTER PROGRAM: BAE Systems confirmed that its F-35
jet fighter program is on track to reach full-rate production this
year as planned.
Write to Matteo Castia at firstname.lastname@example.org
(END) Dow Jones Newswires
February 20, 2020 04:16 ET (09:16 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.