Airbus falls to bottom of CAC 40 weaker-than-feared Q1

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BUZZ-Airbus falls to bottom of CAC 40 weaker-than-feared Q1

** Shares in Airbus AIR.PA fall 2.3% to the bottom of CAC 40 .FCHI after it posted weaker-than-expected Q1 results amid ramp-up costs and supply chain issues

** “Airbus reported Q124 even weaker than already feared. Every unit came in below expectations, FCF was very weak, too” a trader says

** The world’s largest planemaker reported 577 mln euros ($618.37 mln) in Q1 adj oper profit, down 25% y/y and below the 789 million euros forecast by analysts

** Cash outflow of 1.8 billion euros was bigger than analysts’ expectations of 1.3 billion euros outflow

** J.P.Morgan and Berenberg analysts highlight the 27% EBIT miss, which was broad based across all divisions

** “While Q1 is always the lightest quarter… there is an even heavier-than-usual weighting for the balance of the year”, Berenberg says

** “A miss is a miss” JPM says while noting positive news on the A350 production output ramp-up

Reporting by Federica Mileo

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