Airbus Raises 2021 Cash Flow, Earnings Guidance Despite Third-Quarter Sales Drop

   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 [e-mail]

(END) Dow Jones Newswires

October 28, 2021 01:14 ET (05:14 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.