AIR Airbus SE

By Mauro Orru

Airbus said it still expects to deliver roughly 720 planes to customers this year in spite of persistent supply-chain pressures that kept first-quarter deliveries below analysts' forecasts.

The European plane maker on Wednesday posted revenue of 11.76 billion euros ($12.94 billion), down 2% on the year. Airbus delivered 127 aircraft to 54 customers in the first quarter, a 12% miss versus a Visible Alpha estimates.

"We continue to face an adverse operating environment that includes in particular persistent tensions in the supply chain," said Chief Executive Guillaume Faury. "Our 2023 guidance is unchanged with commercial aircraft deliveries expected to be backloaded."

Adjusted earnings before interest and taxes--Airbus's preferred measure of profitability--slipped to EUR773 million from EUR1.26 billion. Reported net profit plunged to EUR466 million from EUR1.22 billion.

Airbus was expected to report revenue of EUR11.37 billion, adjusted earnings of EUR736 million and a profit of EUR528 million for the quarter, according to a company-provided consensus that gathered estimates from 21 analysts.

The group continues to expect adjusted earnings of around EUR6 billion this year. Free cash flow before mergers and acquisitions and customer financing--another closely-watched metric by analysts and investors--should come in at around EUR3 billion.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

May 03, 2023 12:21 ET (16:21 GMT)

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