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MTU Aero Engines lifts 2024 earnings forecast on robust Q3 results

EditorFrank DeMatteo
Published 15/10/2024, 13:52
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On Tuesday, MTU Aero Engines (OTC:MTUAY) AG announced an increase in its earnings guidance for the financial year 2024. The company now anticipates an adjusted EBIT (earnings before interest and taxes) to exceed one billion euros. The previous forecast ranged between 0.95 and 0.98 billion euros. This revision reflects the company's strong performance across all business sectors despite ongoing market challenges.

During the first three quarters of 2024, MTU Aero Engines AG reported preliminary adjusted revenues of 5.29 billion euros. The OEM (original equipment manufacturer) business segment contributed 1.79 billion euros to this figure, while the commercial maintenance segment accounted for 3.58 billion euros, before consolidation effects. As of September 2024, the adjusted EBIT stood at 744 million euros, translating to an EBIT margin of 14.0%. The OEM business segment delivered 444 million euros of the EBIT, with the remaining 300 million euros generated by commercial maintenance.

The company's free cash flow was also noteworthy, reaching 213 million euros by the end of September. Despite the upward revision in earnings guidance, MTU Aero Engines AG has maintained its revenue and free cash flow forecasts for the year. Revenues are expected to be between 7.3 and 7.5 billion euros, and free cash flow is projected to be in the low triple-digit million euro range for 2024.

Investors and analysts can expect a comprehensive report on the company's financial performance, as MTU Aero Engines AG is scheduled to release detailed financial figures for the first nine months of 2024 on October 24, 2024. This quarterly statement will provide further insights into the company's financial health and operational success.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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