Shares of Rolls-Royce surged on Thursday, as the engine maker's latest beat-and-raise buoyed one of Europe's hottest stocks.
Shares of Rolls-Royce jumped more than 11% to hit an all-time high Thursday after the company reinstated its dividend and raised its profit forecast on the back of strong first-half results.
Rolls-Royce Holdings PLC (LSE:RR.) raised its outlook for the full year and said it is bringing back dividends and share buybacks, but said supply chain issues are preventing it from growing profits even faster.
Aerospace engineer Rolls-Royce said it would restart dividend payments when it reports 2024 results next year after it raised its guidance for operating profit and free cash flow by as much as 300 million pounds on Thursday after a strong first half.
Rolls-Royce Holdings PLC (LSE:RR.) shares buzzed higher after the UK's Office for Nuclear Regulation (ONR) passed the company's so-called small modular nuclear reactor (SMR) on to the next stage of the regulatory approval process.
Rolls Royce's small modular reactor design moved a step closer to fruition on Tuesday as the UK nuclear regulator said it had completed the second stage of its assessment of the technology.
This year's Farnborough Airshow was a bit of a damp squib, suggests Canadian bank RBC, and especially for wide-body (WB) jets and their suppliers such as engine maker Rolls-Royce. “Relative to expectations, the 2024 Farnborough Airshow (FAS) was a disappointment,” says the bank.
Along with the cheap price tags, the stocks we learn how to search for earn strong Zacks Ranks, driven by improving earnings outlooks. On top of that, Wall Street is high on all of these stocks.
Rolls-Royce is developing a smaller version of its Ultrafan engine demonstrator aimed at exploring technology for the next generation of narrow-body jets, CEO Tufan Erginbilgic said on Tuesday.
Rolls-Royce Holdings plc has seen over 50% increase in YTD, but can that continue with the new Labour government in power now? The company could lose some bargaining power to trade unions with the recently witnessed industrial action. However, the Labour government's increased defense spending can probably lead to higher revenues. The new government's stance on SMR development would also be worth watching. Meanwhile, though, Rolls-Royce has seen good business progress, and its market multiples look alright too.
Rolls-Royce Holdings PLC (LSE:RR.) is facing another potential new competitor in the mini-nukes or small modular reactor (SMR) market.
Rolls-Royce Holdings PLC (LSE:RR.) first-half results are expected to see the engine maker's management upgrade guidance as airline flying hours exceed pre-pandemic levels, with analysts wondering if dividend resumption will be mentioned.