Airbus (AIR) Q2 2026 earnings summary

Executive summary

• Revenues rose 12% year-over-year to €33.2 billion, driven by record commercial aircraft deliveries and strong Defence and Space performance.

• Delivered 351 commercial aircraft in H1 2026, up from 306 in H1 2025, reflecting strong demand and execution.

• EBIT Adjusted increased to €2.7 billion (8.2% margin), up from €2.2 billion in H1 2025, reflecting higher deliveries and improved divisional results.

• Net income reached €2.24 billion, with EPS at €2.84, up from €1.93 in H1 2025.

• Free cash flow before customer financing improved to €-1.2 billion from €-1.6 billion year-over-year, mainly due to inventory buildup for ramp-up.

Financial highlights

• Gross commercial aircraft orders totaled 886, with net orders at 821 after cancellations; backlog stands at 9,222 units.

• Net cash position at end of June 2026 was €8.4 billion; gross cash position €23.4 billion.

• Gross margin improved to €5.34 billion (16.1% margin), up from €4.25 billion (14.4%) year-over-year.

• Basic and diluted EPS both rose to €2.84 from €1.93 year-over-year.

• Q2 2026 revenues increased 28% year-over-year to €20.5 billion, with EBIT Adjusted up 54% to €2.43 billion.

Outlook and guidance

• 2026 guidance remains unchanged: targeting around 870 commercial aircraft deliveries, EBIT Adjusted of €7.5 billion, and free cash flow before customer financing of €4.5 billion.

• Assumes no major disruptions to global trade, supply chain, or internal operations.

• Focus remains on ramp-up execution, portfolio utilization, and maintaining core values of safety, quality, and compliance.

• The Board approved a €5 billion share buyback programme over three years, announced after the reporting date.

• The company expects to close several acquisitions and a divestiture in the second half of 2026.