By Tim Hepher
PARIS (Reuters) -Europe's Airbus on Wednesday posted higher-than-expected underlying operating profit for the second quarter and reaffirmed its financial goals for the year, while narrowing down its focus for future production to a single 2026 target.
The world's largest planemaker said adjusted earnings before interest and tax rose 34% to 1.845 billion euros as revenues grew 24% to 15.9 billion, buoyed by higher jet deliveries.
In a results statement, Airbus said it was progressing well towards a production goal for its best-selling A320neo-family jets to 75 jets a month in 2026, which it reaffirmed.
But it withdrew any public mention of a previously stated interim goal of 65 a month by end-2024.
"Tactical adjustments to production planning will continue to be made as required to meet (the 75-per-month) target rate, which is now the key reference point for the company and the supply chain," Airbus said.
Industry sources say Airbus is producing about 47 narrow-body A320neo-family jets a month, below an internal planning rate of 55 a month that it had been aiming for by mid-2023.
Airbus reaffirmed production plans for other models.
Analysts forecast quarterly operating profit of 1.725 billion euros on revenues of 15.867 billion, according to a company-compiled consensus. Previously reported jet deliveries rose 6% to 316 airplanes in the first half.
Airbus reaffirmed full-year targets including 720 commercial deliveries, 6.0 billion euros of adjusted operating profit and free cashflow before M&A and customer financing of 3.0 billion.
Shares in Boeing rose earlier after it announced an increase in jet production and posted stronger-than-expected quarterly cashflow, despite fresh charges in its defence unit.
(Reporting by Tim Hepher; Editing by Richard Lough)
