Safran Revenue Beats Forecasts on Postpandemic Air Traffic Recovery
By Mauro Orru
Safran posted revenue above analysts' expectations for the first quarter, led by growth across all units as the postpandemic recovery in air traffic continues.
The French aerospace-industry supplier on Friday reported adjusted revenue of 6.22 billion euros ($6.67 billion), up 18% in reported terms and 19% organically.
Analysts had forecast adjusted revenue of EUR6.15 billion, according to a market consensus provided by the company.
Adjusted revenue at Safran's propulsion business climbed 14% in reported terms to EUR3.10 billion, while the equipment and defense unit posted a 24% increase to EUR2.44 billion. The aircraft interiors business contributed EUR676 million, up nearly 16% on year.
Safran reports consolidated and adjusted metrics, though analysts and investors tend to follow the group's adjusted figures. The company says these reflect its true performance and offer a better comparison against rivals than reported figures.
For 2024, Safran continues to expect adjusted revenue of roughly EUR27.4 billion, with adjusted recurring operating income close to EUR4 billion and free cash flow of around EUR3 billion.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
April 26, 2024 01:21 ET (05:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations