By Mauro Orru

Airbus said it still expects to deliver some 720 planes to customers this year and meet its financial targets, after profit and revenue surged in the second quarter.

The European plane maker on Wednesday posted quarterly revenue of 15.90 billion euros ($17.58 billion), up 24% on the year. Airbus delivered 316 aircraft in the first six months.

"During the first half of 2023, we progressed well across our businesses in an operational environment that remains complex," said Chief Executive Guillaume Faury. "Our commercial aircraft are in strong demand, as demonstrated by more than 800 orders announced at the Paris Air Show."

Adjusted earnings before interest and taxes--Airbus's preferred measure of profitability--climbed 34% to EUR1.85 billion in the quarter. Reported net profit jumped 55% to EUR1.06 billion.

Airbus was expected to report revenue of EUR15.87 billion, adjusted earnings of EUR1.73 billion and a net profit of EUR1.20 billion for the quarter, according to a company-provided consensus that gathered estimates from 20 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

July 26, 2023 12:15 ET (16:15 GMT)

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