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Airbus (OTCPK: EADSY) (OTCPK: EADSF) on Wednesday maintained its goal of delivering about 720 aircraft to other airlines or customers by the end of the year. Analysts questioned the feasibility of the target after the company blamed supply chain constraints To deliver fewer plans than expected during the first quarter of the year.
“We continue to face an adverse operating environment that includes in particular the ongoing tensions in the supply chain,” Guillaume Faury, CEO of Airbus (OTCPK: EADSY) (OTCPK: EADSF), said in a statement. “Our guidance for 2023 remains unchanged with commercial aircraft shipments expected to return.”
Airbus (OTCPK: EADSY) (OTCPK: EADSF) said revenue fell 2% from a year earlier to 11.76 billion euros ($12.94 billion) in the first quarter. The European airline delivered 127 aircraft to 54 customers during the three-month period. Commercial aircraft revenue fell 5%.
The helicopter business fared better with revenue up 26% from a year earlier, while deliveries expanded to 71 rotors from 39 last year.
Airbus (OTCPK: EADSY) (OTCPK: EADSF) has maintained its goal of producing 65 narrowbody A320s per month by the end of next year and 75 per month in 2026. The company plans a four-month supply of the A330 by the end of next year. A year, and nine months for the A350 by the end of 2025.
Its adjusted earnings before interest and taxes fell to 773 million euros in the quarter, from 1.26 billion a year earlier. Reported net profit decreased to 466 million euros from 1.22 billion euros during the corresponding periods.
The company provided a consensus estimate showing that an average of 21 analysts estimated revenue of €11.37 billion, adjusted earnings of €736 million and profit of €528 million for the first quarter.
Airbus (OTCPK: EADSY) (OTCPK: EADSF) maintained its adjusted profit estimate at around €6 billion for 2023. Free cash flow before transaction activity and customer financing is expected to be around €3 billion.