Safran: Higher Capital Spending Trims Our Valuation by 2.3%, but Long-Term Growth Remains Intact
Safran’s third-quarter revenue rose 14.7% to EUR 9.0 billion. Management reaffirmed 2026 guidance for recurring operating income of EUR 6.4 billion–EUR 6.5 billion and free cash flow of EUR 4.7 billion–EUR 4.9 billion.