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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
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BAE Systems
BAE Systems (BA) investor relations material
BAE Systems H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary30 Jul, 2026
Executive summary
Delivered strong operational and financial results in H1 2026, with 9% sales growth, 11% EBIT growth, 13% EPS growth, and a record order backlog of £84bn, leading to upgraded full-year guidance.
Geographic, domain, and product mix position the business well for global defense needs and long-term growth amid rising global defense spending.
Excellent visibility of long-term growth supported by a substantial pipeline and backlog.
Continued investment in innovation, capacity, and efficiency, including major facility expansions and new technology initiatives.
Financial highlights
Sales up 9% year-over-year to nearly £15.8bn, with all sectors contributing to growth.
Underlying EBIT grew 11% to £1,701m; return on sales at 10.8%.
Underlying EPS increased 13% to 38.9p.
Free cash flow was £1,791m, a significant improvement from a negative £368m in the prior year, driven by customer advances.
Net debt reduced to £3,173m from £3,844m at year-end 2025.
Dividend per share increased to 15.0p, up 11%.
Outlook and guidance
Upgraded 2026 guidance: sales growth of 8–10%, EBIT growth 10–12%, EPS growth 11–13%, and free cash flow above £2bn.
Three-year free cash flow guidance (2024–26) raised to over £6.7bn.
Long-term pipeline valued at £180bn, with backlog of £84bn providing strong visibility.
Effective tax rate expected at ~22%; net finance costs guided at ~£340m.
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Latest events from BAE Systems
- Full-year guidance maintained as strong performance and order wins drive growth in 2026.BA
Trading update - Double-digit growth, record backlog, and robust outlook with continued margin expansion.BAH2 2025
- Upgraded 2025 guidance reaffirmed, with robust order intake and strong shareholder returns.BATrading Update
- 2025 guidance maintained with strong trading, major contract wins, and record investment in growth.BATrading Update
- Double-digit sales, EBIT, and EPS growth drive upgraded 2025 guidance and strong outlook.BAH1 2025
- Strong financial growth, global reach, and innovation drive future opportunities in the air sector.BACMD 2025 Presentation
- Record order backlog, strong sales growth, and upgraded guidance drive long-term confidence.BAH1 2024 (Q&A)
- Record backlog, upgraded guidance, and double-digit growth highlight strong H1 2024 results.BAH1 2024
- Record 2024 sales, EBIT, and GBP 78bn backlog support continued strong growth in 2025.BAH2 2024
Next BAE Systems earnings date
H2 202617 Feb, 2027
BAE Systems
Next BAE Systems earnings date
H2 202617 Feb, 2027
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Frequently asked questions
BAE Systems plc is a multinational defense, security, and aerospace company providing products and services in air, land, sea, cyber, and space domains. The company serves government and commercial customers with solutions including military aircraft, submarines, cybersecurity, and electronics systems. BAE Systems operates globally with key markets in the United States, United Kingdom, and Australia. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE.