Airbus Raises 2021 Cash Flow, Earnings Guidance Despite Third-Quarter Sales Drop
October 28 2021 - 1:29AM
Dow Jones News
By Olivia Bugault
Airbus SE has raised its free cash flow and earnings guidance
for the year despite booking lower sales in its third quarter as it
delivered fewer commercial planes.
The European plane maker said Thursday that it is now expecting
adjusted earnings before interest and taxes at around 4.5 billion
euros ($5.22 billion) for the year. It targets free cash flow
before merger and acquisitions and customer financing at roughly
EUR2.5 billion.
Airbus previously guided for adjusted EBIT of EUR4 billion and
free cash flow of EUR2 billion.
The company maintained its target of 600 commercial jet
deliveries for the year.
The updated outlook comes as Airbus posted profit of EUR404
million in the quarter, which compared with a net loss of EUR767
million in the same period a year earlier. Revenue fell 6% to
EUR10.52 billion on the back of lower plane deliveries.
Airbus's more closely watched adjusted earnings before interest
and taxes fell 19% to EUR666 million, it said.
Airbus reported free cash flow before mergers and acquisitions
and customer financing of EUR2.26 billion over nine months.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
October 28, 2021 01:14 ET (05:14 GMT)
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