MTU Aero Engines has lifted its earnings outlook for the year, crediting internal business performance for the healthier outlook.
The German aircraft engine maker said Oct. 15 that it expected adjusted earnings before interest and taxes to top €1 billion ($1.1 billion), which is ahead of its previous guidance of €950 million to €980 million. “This adjustment is based on strong development in all business areas in a continually challenging market environment,” the company said ahead of its release of third-quarter earnings on Oct. 24.
MTU kept revenue guidance unchanged for the full year at €7.3 billion to €7.5 billion and also said there was no change in expected free cash flow, which should land in the low triple-digit million-euro range.
The company said that through the first three quarters of the year, it generated €5.29 billion in revenue, driven by €3.58 billion from commercial maintenance services. Adjusted operating earnings came in at €744 million, the company said, and the year’s free cash flow was €213 million through September.
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