Airbus earnings slipped as quality snags slowed jet deliveries

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Airbus kept its target of about 870 aircraft deliveries for 2026 after handing over 547 aircraft through nine months

Credit: Airbus

Airbus reported third-quarter adjusted operating profit of €1.77 billion ($2 billion) on Wednesday, with revenue of €17.47 billion. The profit figure was down about 9%, according to Bloomberg, which linked the decline to a dip in aircraft deliveries and quality issues on some production lines.

Revenue fell 2% in the quarter. Analysts in a Bloomberg survey were looking for adjusted operating profit of €1.79 billion on revenue of €18.09 billion, according to Bloomberg. A poll compiled by Airbus put the revenue estimate at €17.91 billion and showed profit close to the estimate, according to Reuters.

"Against a complex geopolitical and operating environment, we are focused on delivery while maintaining a steadfast focus on quality," CEO Guillaume Faury said in a statement, according to Bloomberg. "Our plan is clear, and our teams are onboard to meet our objectives."

Airbus kept its full-year targets, the company said. It expects roughly 870 aircraft deliveries in 2026, along with adjusted operating profit near €7.5 billion and approximately €4.5 billion in free cash flow before customer financing. Production goals are unchanged.

Hitting the delivery target would require more than five handovers each business day, according to Bloomberg. Reuters said the figure would be a record for Airbus and would require its best fourth quarter. Airbus has delivered 547 aircraft in 2026, according to Reuters.

Free cash flow before customer financing was negative €1.27 billion since January. Higher inventories as Airbus built up for year-end deliveries accounted for the figure, according to Reuters.

Adjusted operating profit at the main civil aircraft business slid roughly 12%, landing at €1.38 billion. Profit at the defense and space unit came in 19% higher, at €185 million. Helicopters profit fell to €205 million, a decline Airbus put down to a mix of handovers that worked less in its favor. The company also took a €112 million charge over the three months related to absorbing the former Spirit AeroSystems work packages.

Rival Boeing $BA trimmed the number of aircraft it expects to hand over this year on Tuesday, according to Bloomberg. Boeing stock dropped by up to 10%, hitting its lowest point in a year and a half. Boeing has delivered 475 aircraft this year, according to Reuters.

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