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Airbus Turns To Profit In Q3, Revenues Down; Lifts FY21 Adj. EBIT View - Quick Facts

European plane maker Airbus SE (EADSF.PK,EADSY.PK) reported Thursday that its third-quarter net income was 404 million euros, compared to last year's loss of 767 million euros. Earnings per share were 0.51 euro, compared to loss of 0.98 euro a year ago.

EBIT was 710 million euros, compared to loss of 626 million euros last year. EBIT Adjusted declined 19 percent to 666 million euros.

Revenues fell 6 percent to 10.52 billion euros from prior year's 11.21 billion euros, mainly driven by lower commercial aircraft deliveries as well as less favourable foreign exchange rates, partially offset by higher revenues at Airbus Helicopters.

Further, the company updated its 2021 guidance and now targets to achieve EBIT Adjusted of 4.5 billion euros, higher than previous estimate of 4 billion euros.

The company continues to expect 600 commercial aircraft deliveries.

Airbus Chief Executive Officer Guillaume Faury said, "Based on our nine-month performance, we have updated our 2021 earnings and cash guidance. We are strengthening the balance sheet to secure investment for our long-term ambitions."

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