EADSY - Airbus Shares Tank Over 10% As Company Slashes 2024 Targets Due To Supply Chain Woes | Benzinga
European aerospace giant Airbus (OTC:EADSY) witnessed a significant drop in its shares on Tuesday following the company’s announcement of a downward revision of its 2024 targets. The company attributed the revision to supply chain challenges and additional costs in its space systems division.
What Happened: Airbus’ shares fell by over 10% on Tuesday, with the company revising its 2024 adjusted earnings before interest and taxes to approximately €5.5 billion (approx. $5.9 billion). This is a significant drop from the previous estimate of €6.5 billion to €7 billion.
"Airbus is facing persistent specific supply chain issues mainly in engines, aerostructures, and cabin equipment," the firm said.
The company also ...