Airbus SE

AIR: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€441.00	Qcv	Hdclskjjm

Airbus Earnings: Production Growing but Still Bottlenecked by Supply Chain; Fair Value Estimate Flat

Nicolas Owens

Apr 26, 2024

Wide-moat Airbus reported its first-quarter 2024 results, having delivered 124 commercial planes in the quarter, 20% of its 2024 goal of around 800 jets. Revenue and profits came in just a touch lower than our initial projections, and with the time value of money offset by a scaled-back delivery target for A321s in the year, we raised our fair value estimate from EUR 162 to EUR 163 per share and lowered it from $44 to $43.80 per US depository share because the dollar strengthened slightly since our last update.

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