Safran SA (EURONEXT:SAF) posted weaker H1 net income but stronger adjusted results and EPS, prompting Bernstein to sharply raise 2026 guidance and name SAF its top European aerospace aftermarket pick as shares recover — even as an MTU warning that Franco‑German fighter splits could imperil the MTU‑Safran engine tie‑up clouds the outlook.
Previous Week Recap
- Safran SA H1 Net Income: Safran (SAF) H1 net income €1.75B vs €5.05B year‑ago; basic EPS €4.21 vs €12.07. Adjusted net income €1.924B (€4.63/sh) vs €1.587B (€3.80).
- Bernstein Lifts Safran Guidance: Bernstein raised Safran SA (SAF) 2026 guidance sharply and named it top aftermarket pick in European aerospace & defense; shares have recovered to early‑2026 levels after strong quarterly results.
- MTU-Safran Engine Tie-Up Jeopardized: MTU said France and Germany's differing fighter needs may end the MTU‑Safran engine tie-up, jeopardizing the joint engine venture after FCAS collapsed over France's carrier-capable demand.
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