By Anthony O. Goriainoff


BAE Systems PLC said Thursday that its performance in the first quarter was in line with expectations, and that if the current dollar rate persists this would be a tailwind to earnings.

The U.K. defense-and-aerospace company said it continues to expect a strong year of order intake and that order flow to date has been positive, especially for its long-term programs.

The company said it was strongly positioned as many of the countries in which it operates look set to increase their spending to "counter the elevated and evolving threat environment on multiple fronts."

BAE said that there is a pipeline of opportunities across all sectors that enhance the growth outlook as it supports key customers to address the heightened threat environment, and backed its guidance for the year.

"We see opportunities to further enhance the medium- term outlook as our customers address the elevated threat environment," Chief Executive Charles Woodburn said.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

05-05-22 0246ET