Safran posts slightly higher than expected Q3 sales

Safran Exceeds Q3 Revenue Forecasts with Strong Jet Engine Performance

Safran’s Third-Quarter Financial Results and Market Outlook

By Florence Loeve and Joanna Plucinska

Q3 Revenue Surpasses Expectations

PARIS, Oct 23 (Reuters) - French jet engine maker Safran posted slightly higher-than-expected third-quarter revenue on Friday, driven by its core jet engine division, and confirmed its 2026 outlook. 

One of the world's largest aerospace equipment suppliers, Safran said sales for the third quarter of the year grew organically by 13.4% to €9 billion ($10.09 billion). 

Analysts were on average expecting quarterly sales of €8.99 billion, according to a company-compiled consensus. 

Outlook and Growth Drivers

Raised Targets and Aftermarket Demand

Safran raised its targets in July, projecting revenue growth in the mid-teens percentage range with recurring operating income between €6.4 billion and €6.5 billion, after it posted stronger-than-expected first-half profits driven by demand for spare parts. The results show that demand for spare parts and maintenance on older engines is still driving profits at Safran and other engine makers.

Propulsion Division Performance

Safran's propulsion division, which accounted for half of its revenue in 2025, reported 13.2% organic sales growth for the third quarter, with aftermarket revenue rising by 18.7%.

Aftermarket Environment

"Civil engine spare parts continue to perform well, driven by sustained investment in maintenance from airlines, supporting our view of a strong and durable aftermarket environment," Chief Executive Olivier Andries said in a statement.

CFM Joint Venture and Industry Context

CFM, a joint venture between Safran and GE Aerospace and the world's largest jet engine maker by units sold, is reaping maintenance profits from its CFM56 jet engines, which continue to power thousands of planes even though CFM's newer LEAP engine has replaced them on current Boeing and Airbus narrow-body jet deliveries.

GE Aerospace’s Performance

GE Aerospace on Tuesday raised its 2026 profit forecast for the second time this year, as demand for aircraft engine repairs and spare parts remained strong despite surging fuel costs that have squeezed airline profits.

Equipment and Defence Division

Safran's Equipment and Defence division generated €3.6 billion in quarterly revenue, slightly above the €3.5 billion expected by analysts.

Defence Market Dynamics

"In defense, our activities are benefiting from robust market dynamics, and we are expanding our production capabilities to prepare for future growth," Andries added. 

($1 = 0.8921 euros)

(Reporting by Florence Loève; Editing by Jonathan Spicer and Jochelle Mendonca)