Safran SA
SAF: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€557.00 | Tlfwz | Gkcdfwvn |
Safran Earnings: Solid Set of Results In Line With Our Expectations
Wide-moat Safran reported a strong set of results for the third quarter, driven by narrow-body air traffic available seat kilometers ahead of 2019 levels, with second-quarter ASK at 107% of the third-quarter 2019 level. Management raised its revenue outlook for the full year. Narrow-body demand ahead of 2019 levels, coupled with pent-up demand in original equipment and aftermarket, supports our 2023 view, and we maintain our fair value estimate.