Airbus beats revenue forecasts with strong deliveries

Airbus on Friday Nov. 18 backed its earnings outlook for the full year after third-quarter sales rose on higher deliveries.

The European plane maker it still sees 2022 adjusted earnings before interest and taxes at 5.5 billion euros ($5.48 billion).

In the July-September period, adjusted EBIT rose 26% compared with the same period a year earlier to EUR836 million, below expectations for EUR887 million, according to a consensus of analysts’ estimates provided by the company.

Revenue rose 27% to EUR13.31 billion versus analysts’ expectations for EUR12.85 billion, as plane deliveries rose, Airbus said. Stronger performances at its defence-and-space business and its helicopters business also helped its earnings, it said.

Net income rose 65% to EUR667 million.

Free cash flow before mergers and acquisitions and customer financing should now come in at EUR4.5 billion this year, compared with its previous target of EUR3.5 billion, Airbus said.

Airbus maintained its guidance for commercial deliveries in 2022 at about 700 planes.