Airbus SE (EU:AIR) reported a 2% year-on-year decline in third-quarter revenue to €17.47 billion, below market expectations of €18.05 billion, as commercial aircraft deliveries slowed. The European aerospace manufacturer maintained its full-year financial and production guidance.
Airbus shares advanced 1.51% on Thursday morning, while its American depositary receipts declined approximately 0.2% in premarket trading.
Third-Quarter Earnings Rise Despite Lower Revenue
Airbus reported third-quarter earnings per share of €1.70, compared with €1.41 in the corresponding period last year. The result was slightly above the consensus forecast of €1.68.
Adjusted earnings before interest and taxes (EBIT) declined 9% to €1.77 billion.
The company attributed the reduction to fewer commercial aircraft deliveries, a less favourable product mix within its Commercial Aircraft and Helicopters divisions, and the integration of work packages previously operated by Spirit AeroSystems.
Nine-Month Revenue Increases 7% to €50.6 Billion
For the first nine months of 2026, Airbus reported revenue of €50.6 billion, representing an increase of 7% compared with the previous year.
Adjusted EBIT rose 8% to €4.5 billion during the same period.
The manufacturer delivered 547 commercial aircraft in the first nine months, compared with 507 in the corresponding period of 2025.
Chief Executive Guillaume Faury commented:
“These nine-month results reflect the upward trajectory of our civil and military ramp-up, supported by strong demand for our products across the entire portfolio,” CEO Guillaume Faury said.
Free cash flow before customer financing was negative €1.27 billion, which Airbus attributed to increased inventory associated with a delivery schedule weighted towards the latter part of the year.
Aircraft Orders More Than Double as Backlog Reaches 9,310
Airbus reported net orders of 1,105 commercial aircraft during the first nine months, more than double the number recorded in the comparable period last year.
The company’s commercial aircraft order backlog increased to 9,310 aircraft.
Within Airbus Defence and Space, order intake rose to €11.5 billion from €6.8 billion a year earlier.
Commenting on the company’s operational priorities, Faury added:
“Against a complex geopolitical and operating environment, we are focused on delivery while maintaining a steadfast focus on quality,” Faury added.
Airbus Maintains 2026 Aircraft Delivery and Financial Targets
Airbus reaffirmed its objective of delivering approximately 870 commercial aircraft during 2026.
With 547 aircraft delivered in the first nine months, achieving the annual target would require approximately 323 deliveries during the fourth quarter.
The company also maintained its full-year financial forecasts, including adjusted EBIT of approximately €7.5 billion and free cash flow before customer financing of approximately €4.5 billion.
These targets remain unchanged despite the year-on-year decline in third-quarter revenue and adjusted operating earnings.
Analyst Notes Unchanged Aircraft Production Plans
Following the earnings announcement, TD Cowen analyst Tim James commented on Airbus’s aircraft production schedules, noting that the manufacturer’s previously announced targets remained in place.
James said:
“Airbus production plans unchanged (significant Magellan exposure, exceptA220): A220 target of 13/month in 2028 (13% 2024-2028 CAGR), unchanged.A320 target of 70-75/month by end of 2027 (6-8% 2023-2027 CAGR) and stabilizing at 75, unchanged. A330 targeting 5/ month in 2029 (6% 2025-2029CAGR), unchanged. Target for ramping A350 to 12/month in 2028 (19% 2024-2028 CAGR), unchanged.”
The production plans include a target of 13 A220 aircraft per month in 2028 and an A320 production rate of between 70 and 75 aircraft per month by the end of 2027, subsequently stabilising at 75.
Airbus also continues to target monthly production of five A330 aircraft in 2029 and 12 A350 aircraft in 2028.
More About Airbus
Airbus SE (EU:AIR) is a European aerospace and defence manufacturer operating across commercial aircraft, helicopters, defence and space activities.
The company’s financial and operational performance is measured through aircraft deliveries, order intake, backlog, revenue, adjusted EBIT and free cash flow.
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