Airbus (AIR) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 7% to €50.645bn; Adjusted EBIT increased 8% to €4.495bn and net income rose 36% to €3.587bn. 2026 guidance was unchanged.

• Commercial deliveries reached 547, net orders rose to 1,105 and the aircraft backlog stood at 9,310 at September-end.

• FCF before customer financing was -€1.268bn, mainly reflecting working-capital changes and inventory build for planned ramp-ups.

Financial highlights

• 9M revenue was €50.645bn versus €47.436bn; reported EBIT was €4.550bn versus €3.365bn.

• Net income was €3.587bn versus €2.641bn; reported EPS was €4.54 versus €3.34 and Adjusted EPS was €4.26.

• Q3 revenue was €17.469bn versus €17.826bn; Adjusted EBIT was €1.768bn, down 9%, while reported EBIT rose 3% to €1.805bn and net income rose to €1.344bn.

• 9M FCF was -€1.108bn versus -€778m; FCF before customer financing was -€1.268bn versus -€914m.

• R&D expense rose to €2.327bn from €2.1bn; nine-month CapEx was €2.4bn.

Outlook and guidance

• 2026 guidance remained unchanged: ~870 commercial deliveries, ~€7.5bn Adjusted EBIT and ~€4.5bn FCF before customer financing; before M&A and including applicable tariffs.

• Guidance assumes no additional disruption to global trade, the economy, air traffic, supply chains, internal operations or delivery capability.

• Production targets include A220 at 13/month in 2028, A320 Family at 70–75/month by end-2027, A330 at 5 in 2029 and A350 at 12 in 2028.

• Stringer-related delivery impact was not expected to be significant in 2026 or 2027; CapEx was expected to rise to support ramp-up and Spirit work-package integration.