By Adria Calatayud

BAE Systems PLC (BA.LN) on Thursday reaffirmed its guidance for 2019 and said Chairman Roger Carr plans to retire in May 2023.

The U.K. defense company said it continues to expect underlying earnings per share--excluding one-off tax benefits--to grow by a mid-single digit percentage compared with last year, when it was reported at 42.9 pence ($0.55).

BAE said it continues to target free cash flow of more than GBP3 billion over the three years from 2019 to 2021 and expects year-end net debt to be broadly unchanged on year.

BAE said production ramp-up of the F-35 program is progressing well and is on track to achieve full rate production levels targeted in 2020.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

November 07, 2019 02:39 ET (07:39 GMT)

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