Aerospace firm Airbus SE hiked its guidance for the year after posting strong earnings in the first nine months of the year, the company reported in a filing.
- Airbus has hiked its earnings before interest and taxes guidance to €4.5 billion from €4 billion previously, and free cash flow of €2.5 billion from €2 billion. It kept its commercial aircraft deliveries for the year at 600.
- Consolidated net income for the first nine months stood at €2.635 billion, up from the €2.686-billion loss last year, while consolidated earnings per share were at €3.36 from last year’s -€3.43.
- Consolidated EBIT stood at €3.437 billion, a reversal of the -€2.185 billion last year, including net adjustments of +€68 million. Adjustments cover the A380 program, the pre-delivery payment mismatch, and other items.
- Airbus said the latest guidance assumes that there will be no further disruptions to the world economy, air traffic, and its ability to deliver products and services.
The A220 production rate is at five aircraft a month, which it seeks to increase to six a month in early 2022. AIR.PA is up 0.95%.