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EADS quarterly earnings beat forecasts
November 8, 2012 / 6:22 AM / 5 years ago

EADS quarterly earnings beat forecasts

PARIS, Nov 8 (Reuters) - Europe’s EADS unveiled stronger-than-expected third-quarter earnings boosted by planemaker unit Airbus on Thursday and reaffirmed its financial targets for the year as it pledged to focus on cash generation.

In its first trading update since calling off plans to merge with Britain’s BAE Systems last month, the Franco-German-led company said its key A350 aircraft programme remained challenging despite resolution of a wing production problem.

EADS posted a 67 percent rise in third-quarter operating profit to 537 million euros on sales of 12.324 billion euros, up 15 percent, compared with average analyst forecasts of 454 million operating profit and revenues of 11.853 billion.

It took a 76 million euro charge for the failure of U.S. aircraft manufacturer Hawker Beechcraft.

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