April 29, 2020 / 4:50 AM / a month ago

CORRECTED-BRIEF-Airbus Issues No New Guidance, Q1 Net Result Misses Consensus

(Corrects headline to say “net result”, not “net income”.)

April 29 (Reuters) - Airbus Group:

* AIRBUS REPORTS FIRST QUARTER 2020 RESULTS

* ON CORONAVIRUS: ASSESSMENT OF COVID-19 IMPLICATIONS ON OUTLOOK IN PROGRESS. NO NEW GUIDANCE ISSUED GIVEN LIMITED VISIBILITY

* STRONG FOCUS ON MATCHING PRODUCTION TO DEMAND AND CASH CONTAINMENT

* Q1 REVENUE 10.6 BILLION EUR VERSUS 12.5 BILLION EUR YEAR AGO

* Q1 EPS LOSS 0.61 EUR VERSUS 0.05 EUR PROFIT YEAR AGO

* Q1 REVENUES EUR 10.6 BILLION; EBIT ADJUSTED EUR 281 MILLION

* Q1 EBIT (REPORTED) EUR 79 MILLION; LOSS PER SHARE (REPORTED) EUR -0.61

* Q1 FREE CASH FLOW BEFORE M&A AND CUSTOMER FINANCING EUR -8.0 BILLION

* Q1 NET LOSS REPORTED EUR 481 MILLION VERSUS PROFIT EUR 123 MILLION IN COMPANY-COMPILED CONSENSUS

* Q1 COMPANY-COMPILED CONSENSUS: REVENUE EUR 10.45 BILLION; ADJUSTED EBIT EUR 246 MILLION

* Q1 COMPANY-COMPILED CONSENSUS: NET INCOME REPORTED EUR 123 MILLION; ADJUSTED EPS EUR 0.18

* IN Q1 AROUND 60 AIRCRAFT COULD NOT BE DELIVERED DUE TO COVID-19 PANDEMIC

* AIRBUS HELICOPTERS’ Q1 EBIT ADJUSTED INCREASED TO EUR 53 MILLION (Q1 2019: EUR 15 MILLION) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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