Benzinga | Jul 29, 2021 03:36PM EDT

Airbus Stock Takes Flight On Solid 1H Earnings, Raises FY21 Outlook

Airbus SE (OTC:EADSF) (OTC:EADSY) reported a half-year revenue growth of 30% year-over-year to (euro)24.6 billion, with 297 commercial aircraft delivered compared to 196 aircraft a year ago.

* Sales by segments: Airbus (euro)17.62 billion (+43.9% Y/Y), Airbus Helicopters (euro)2.49 billion (+14.5% Y/Y), and Airbus Defence and Space (euro)4.52 billion (flat).

* EPS improved to (euro)2.84 from (euro)(2.45) in 1H20.

* The gross margin expanded by 1,430 bps to 19.3%, and Adjusted EBIT was (euro)2.7 billion compared to million (euro) -945 million in H1 2020

* Airbus generated YTD operating cash flow of (euro)2.71 billion, compared to cash used (euro)11.71 billion a year ago. Free cash flow before M&A and customer financing was (euro)2.1 billion.

* The Company's liquidity position stood at (euro)33.7 billion at the end of June 2021, with a consolidated net cash position at (euro)6.5 billion.

* FY21 Outlook: Airbus targets to achieve 600 commercial aircraft deliveries; Adjusted EBIT of (euro)4 billion, and Free Cash Flow before M&A and Customer Financing of (euro)2 billion.

* Price Action: EADSF shares trade higher by 3.36% at $138.47 on the last check Thursday.

* Photo by Laurent ERRERA via Wikimedia