Airbus Shares Tank Over 10% As Company Slashes 2024 Targets Due To Supply Chain Woes
Portfolio Pulse from Benzinga Neuro
Airbus shares dropped over 10% after the company revised its 2024 targets downward due to supply chain issues and additional costs in its space systems division. The company now expects adjusted earnings before interest and taxes to be around €5.5 billion and forecasts 770 commercial aircraft deliveries for 2024.
June 25, 2024 | 9:16 am
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Airbus shares fell over 10% after the company revised its 2024 targets downward due to supply chain issues and additional costs in its space systems division. The company now expects adjusted EBIT to be around €5.5 billion and forecasts 770 commercial aircraft deliveries for 2024.
The significant downward revision of 2024 targets due to persistent supply chain issues and additional costs in the space systems division is likely to negatively impact investor sentiment and the stock price in the short term.
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