Shares of Airbus SE plunged as much as 8% in Paris tradingafter the aerospace and defense group guided to870 commercial aircraft deliveries for 2026, well below the Bloomberg Consensus estimate of 896. Airbus blamed the softer outlook on the lack of reliable engine supplies for its A320 family of jets.
UBS analyst Tricia Wright said fourth-quarter results were in line, but the 2026 guidance was at the low end of expectations, and long-term production targets were downgraded.
"While the possibility of a long-term production rate target downgrade had been discussed by investors, 2026 guidance is also below the expectations of most investors we spoke to—880 deliveries, €7.5–8 billion EBIT, and €5–5.5 billion FCF," said UBS analyst Ian Douglas-Pennant. The analyst reiterated his "buy" rating on Airbus.
The lower guidance was largely due to what CEO Guillaume Faury called a "significant" shortage of engines from Pratt & Whitney. He said this forced the planemaker into a mad dash to meet last year's delivery target, which was ultimately lowered in the final weeks of the year.
"Pratt & Whitney's failure to commit to the number of engines ordered by Airbus is negatively impacting this year's guidance and the ramp-up trajectory," Airbus wrote in a statement.
Here's a snapshot of the 2026 full-year forecast (courtesy of Bloomberg):
Sees commercial aircraft deliveries of about 870 planes; estimate 895.74 (Bloomberg Consensus)
Sees adjusted EBIT of about €7.5 billion; estimate €8.19 billion
Sees adjusted free cash flow of about €4.5 billion; estimate €5.68 billion
Goldman analyst Jeremy Elster commented on bearish technicals developing for the planemaker:
Source: ZeroHedge News
