Metzler Expects Airbus to Confirm FY26 Delivery Target in Q3 Report

06:20 AM EDT, 10/19/2026 (MT Newswires) -- Metzler Capital Markets sees Airbus (AIR.F, AIR.PA) confirming its 2026 delivery target in its third-quarter report on Oct. 28, after Commercial Aircraft Chief Lars Wagner said planes are now in the final assembly line and no further supply chain issues are expected. "His comments strengthen our confidence that the company will reaffirm its 2026 target of ~870 aircraft deliveries (M'e: 870). If Airbus meets that target, we believe its 2026 guidance of EUR ~7.5 bn in adj. EBIT and EUR ~4.5 bn in FCF before Customer Financing could prove conservative," analysts wrote in a third-quarter earnings preview note. For the third quarter alone, the research firm expects Airbus to deliver a "solid performance," with revenue projected at 17.9 billion euros, with adjusted EBIT and adjusted EPS at 1.80 billion euros and 1.76 euros, respectively. On a segmental basis, adjusted EBIT at commercial aircraft is expected to fall to 1.37 billion euros from 1.56 billion euros due to a decline in deliveries and headwinds related to foreign exchange, research and development costs, and Spirit AeroSystems integration. Adjusted EBIT at helicopters is also estimated to be lower annually due to a "less favorable" product mix. On the flip side, analysts forecast defense and space's adjusted EBIT to increase to 225 million euros from 155 million euros. Against this backdrop, the stock's buy rating and price target of 242 euros were unchanged. "We view the recent share price weakness - largely attributable to a delivery shortfall - as an attractive entry point into a company with strong bargaining power over its customers as demonstrated during the pandemic, the highest visibility in its history and a profit growth profile that is rare among European industrials," Metzler wrote.