Airbus falls after disappointing earnings and forecasts
The action of the European aircraft manufacturer Airbus (AIR) fell more than 5% on the Paris Stock Exchange on Thursday after the publication of profits below expectations and the announcement of the downward revision of its delivery forecasts for 2022. Not only was second-quarter earnings per share disappointing, coming in at €1.16 versus expectations of €1.20, but the aircraft manufacturer also lowered its forecast for aircraft deliveries for the year to around 700 aircraft, down from 720 previously, and slowed its production plans, due to supply chain delays.
The Airbus stock has outperformed the STOXX 600 since the start of the year, limiting its decline to 10% against 14% for the benchmark index, but the pressure could increase on the stock as fears of recession wear off. accentuate. Indeed, discretionary household consumption, particularly in travel, could begin to weaken after the summer holidays with high inflation cutting into real incomes and the rise in financing costs with monetary tightening, which should subsequently penalize the economic activity of the European aircraft manufacturer. Airlines tend to ease off their plane orders when their outlook darkens.
Airbus (AIR) Share Price Daily Chart – Key Levels