Finance
France’s Safran Confirms Outlook After Stronger Than Expected Q1 Jet Engine Revenue
Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min readLast updated: April 23, 2026
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Safran’s Q1 adjusted revenue rose 18.8% to €8.62 billion, beating the ~€8.28 billion consensus. Strong LEAP engine deliveries (up over 60%) and aftermarket strength underpin guidance, with full-year outlook reaffirmed.
Safran sees limited near-term impact from Mideast conflict, confirms outlook
Safran's Financial Performance and Outlook Amid Middle East Conflict
By Olivier Cherfan
April 23 (Reuters) - French jet engine maker Safran sees limited near-term impact from the conflict in the Middle East, it said on Thursday, as it reported a stronger-than-expected rise in first-quarter revenue and said it expected to reach the upper end of its previously announced full-year forecast.
LEAP Jet Engine Production and Partnerships
Safran co-produces LEAP jet engines for narrow-body Boeing and Airbus jetliners with GE Aerospace through their CFM International venture, the world's largest engine maker by units sold.
Impact of Middle East Conflict
"We saw no impact in the first quarter and do not expect a significant impact in the second quarter at this stage," Safran CEO Olivier Andriès said in a media call about the impact of the Middle East conflict.
Revenue Growth and Key Drivers
The company, which also makes landing gear, brakes and cabin interiors, said adjusted revenue rose 18.8% to 8.62 billion euros ($10.08 billion) in the first quarter, supported by LEAP engine deliveries surging more than 60% and sales of spare parts and services rising 29% and 43%, respectively.
Spare Parts Revenue
The widely watched spare parts revenue for civil engines grew by 29.3% in dollar terms.
Analyst Expectations
Analysts were on average expecting revenue of 8.28 billion euros, according to a company-compiled consensus.
Market Share and Competitive Landscape
Andriès said that CFM held about 60% of the A320neo-family order book and that Safran had no ambition to increase that share despite Pratt & Whitney's current engine-supply problems.
Industry Outlook and Future Projections
GE Aerospace Forecast
GE Aerospace said on Tuesday it was tracking toward the upper end of its 2026 profit forecast, while preparing for a tougher environment marked by higher oil prices, fuel supply constraints and slower global growth.
Safran's 2026 Projections
Revenue and Income Targets
Safran expects 2026 revenue to rise by a low- to mid-teens percentage, with recurring operating income of 6.1 to 6.2 billion euros and free cash flow of 4.4 to 4.6 billion euros.
($1 = 0.8549 euros)
(Reporting by Olivier Cherfan in Gdansk; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
Key Takeaways
- •First‑quarter revenue of €8.62 billion exceeded analyst consensus (~€8.28 billion), driven by robust LEAP deliveries, spare parts (+29%) and services (+43%).
- •Despite geopolitical headwinds, Safran confirmed it expects to hit the high end of its 2026 guidance: low‑ to mid‑teens revenue growth, €6.1–6.2 billion recurring operating income, €4.4–4.6 billion free cash flow.
- •LEAP engine aftermarket continues to thrive, building on record 2025 delivery volumes and supporting Safran’s elevated 2028 ambitions.
References
Frequently Asked Questions about France’s Safran confirms outlook after stronger than expected Q1 jet engine revenue
1What was Safran's first-quarter 2024 revenue?
Safran reported Q1 revenue of 8.62 billion euros ($10.08 billion), a rise of 18.8%.
2What drove Safran's revenue growth in Q1?
Strong LEAP engine deliveries, up more than 60%, and increased sales of spare parts and services boosted revenue.
3How did Safran's Q1 revenue compare to analyst expectations?
Safran's Q1 revenue surpassed analyst expectations of 8.28 billion euros.
4Which markets contributed to strong demand for Safran's defense activities?
Strong demand for defense activities was driven notably throughout Europe.
5What financial outlook did Safran confirm for 2026?
Safran expects revenue to rise by a low- to mid-teens percentage, operating income of 6.1 to 6.2 billion euros, and free cash flow of 4.4 to 4.6 billion euros.
