Cristina Gallardo

Rheinmetall posted an 39.5% increase in third-quarter sales as the group remained one of Europe’s main ammunition and weapon suppliers, but stuck to its full-year guidance. The German arms maker said Thursday that for the three months to Sept. 30, sales rose to 2.45 billion euros ($2.63 billion) from 1.75 billion euros in the same period of last year, beating a consensus estimate of 2.42 billion euros provided by the company. Net profit rose to 135 million euros from 102 million euros, missing a consensus estimate published by Alpha Value of 189.80 million euros.

The German arms maker posted a 39.5% increase in sales, as it consolidated its place as one of Europe’s main ammunition and weapon suppliers.

The defense group said it maintained a solid order intake in the third quarter, and reiterated its guidance for the year.

The London-listed company is planning to expand in the U.S. as the country ramps up defense spending, its chief executive said after the company posted revenue above expectations.

The arms maker forecasts $21.2 billion in sales over the next three years amid higher defense spending in western markets.

The U.K. soft-drinks company said the preliminary results were due to strong demand for Pepsi and Tango, as well as improved trading in Brazil.

The U.K. soft-drinks company said the preliminary results were due to strong demand for Pepsi and Tango, as well as improved trading in Brazil.

The planned creation of a Department of Government Efficiency co-run by Elon Musk is weighing on valuations of European defense companies that rely heavily on U.S. contracts, according to analysts.

European Union countries are expected to increase their combined defense spending this year, which is likely to boost sales among arms contractors.