Airbus stock: Nine-month revenue rises as 2026 targets hold

Airbus reported stronger year-to-date operating results on Wednesday, October 28, while keeping its 2026 targets unchanged. In its nine-month results release, Airbus said revenue rose 7 percent year over year to 50.645 billion euros for the period ended September 30.

The company delivered 547 commercial aircraft, compared with 507 in the first nine months of 2025. Commercial aircraft revenue increased 8 percent to 36.665 billion euros, while revenue at Airbus Defence and Space rose 5 percent to 9.341 billion euros. Helicopters revenue was broadly stable at 5.646 billion euros.

Profit growth meets delivery momentum

Adjusted EBIT, which Airbus uses as an underlying performance measure, increased 8 percent to 4.495 billion euros from 4.146 billion euros. Adjusted EBIT in the commercial aircraft business reached 3.362 billion euros, up from 3.270 billion euros, with higher deliveries partly offset by higher research and development costs and a less favorable hedge rate.

Reported EBIT climbed 35 percent to 4.550 billion euros. Net income rose 36 percent to 3.587 billion euros, and reported earnings per share increased to 4.54 euros from 3.34 euros. Airbus said the reported result included positive adjustments related to the dollar working-capital mismatch and balance-sheet revaluation, partly offset by costs linked to the integration of former Spirit AeroSystems work packages.

Order momentum also strengthened. Net commercial aircraft orders more than doubled to 1,105 units from 514 a year earlier, leaving the commercial aircraft backlog at 9,310 aircraft at the end of September. Defence and Space order intake reached 11.474 billion euros, compared with 6.753 billion euros in the prior-year period.

Cash flow remains a key focus

Free cash flow before customer financing was negative 1.268 billion euros, compared with negative 914 million euros a year earlier. Airbus attributed the outflow mainly to working-capital changes and inventory build-up linked to the back-loaded delivery profile and the planned production ramp-up. Net cash stood at 7.042 billion euros at the end of September, down from 12.171 billion euros at the end of 2025.

Third-quarter revenue fell 2 percent to 17.469 billion euros, while adjusted EBIT declined 9 percent to 1.768 billion euros. Airbus linked the quarterly pressure to lower commercial aircraft deliveries, a less favorable mix and the integration of Spirit work packages, partly offset by stronger performance at Defence and Space.

Guidance depends on fourth-quarter execution

Airbus maintained its 2026 targets of around 870 commercial aircraft deliveries, adjusted EBIT of around 7.5 billion euros and free cash flow before customer financing of around 4.5 billion euros. The outlook assumes no additional disruption to global trade, air traffic, supply chains, internal operations or the companys ability to deliver products and services. It includes currently applicable tariffs and excludes mergers and acquisitions.

Management continues to target an A220 production rate of 13 aircraft per month in 2028. The A320 Family is expected to reach between 70 and 75 aircraft per month by the end of 2027, with a subsequent target of 75. The A330 target remains five aircraft per month in 2029, while the A350 target remains 12 aircraft per month in 2028.

The real-time quote of Airbus stock shows the shares trading at 194.29 euros on Lang & Schwarz at 10:40 CET on Friday, October 30, 2026, 0.80 percent below the Xetra close of Thursday, October 29.

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