PARIS, November 9 (Reuters) – Airbus shares fell on the Paris Stock Exchange on Thursday after the aircraft manufacturer reported third-quarter revenue and operating profit below expectations .
Airbus shares fell 1.83% to 128 euros at 09:12 GMT.
The group’s adjusted operating profit amounted to 1.013 billion euros during the quarter, up 21% and its turnover increased 12% to 14.897 billion euros.
Analysts, however, expected a profit of 1.142 billion euros on a turnover of 15.098 billion, according to a consensus compiled by the company.
Deutsche Bank analysts said they were reassured by Airbus’ strong commercial Ebit performance, but disappointed by the Defense and Space division.
The world’s largest plane maker also said it wants to return to pre-COVID levels of production of 10 A350 planes per month in 2026, compared to a previous target of nine per month by the end of 2025.
Deutsche Bank “welcomes the increase in the A350 monthly production target to 10 per month by 2026 although this remains a distant positive.”
For his part, JP Morgan mentions the problems of the engine manufacturer Pratt & Whitney and its GTF engines which lead to numerous and lengthy inspection and even maintenance operations.
While it is very difficult to assess whether Pratt & Whitney will meet its commitments, “we have revised our aircraft delivery estimates downward to take this risk into account,” says JP Morgan, which forecasts 800 aircraft deliveries. commercial in 2024, compared to 826 anticipated by Airbus.
Furthermore, “Airbus suggested that the environment had become ‘increasingly complex'”, noted Berenberg analysts, “which contrasts with the ‘buy’ recommendations which imply that the context is improves sequentially. Berenberg has retained its “sell” recommendation. (Written by Kate Entringer, edited by Blandine Hénault)
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