Rolls-Royce Says 1Q Was in Line With Views; Backs Guidance

By Anthony O. Goriainoff

Rolls-Royce Holdings PLC (RR.LN) said Thursday that business for the first quarter of the year was in line with its expectations and backed its full-year guidance.

The U.K.-based aircraft engine maker reiterated its underlying operating profit and free cash flow guidance of 700 million pounds ($914.0 million), plus or minus GBP100 million in 2019. The company said cash-flow phasing is expected to have a strong second half bias, with more invoiced engine deliveries and planned inventory reductions in civil aerospace.

Group underlying operating profit for 2018 was GBP616 million.

Chief Executive Officer Warren East said the company remains on track for the full year and to deliver its longer-term aspirations.

"We continue to see a healthy market environment, with strong order intake year-to-date at power systems, good flying-hour growth in civil aerospace and positive order momentum in defense," Mr. Warren said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

May 02, 2019 02:37 ET (06:37 GMT)

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