Safran posts slightly higher than expected Q3 sales

By Florence Loeve

PARIS, Oct 23 (Reuters) - French jet engine maker Safran SAF.PA on Friday posted slightly higher-than-expected third quarter revenues, driven by its core jet engine division.

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.

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

Safran confirmed its 2026 forecasts, targeting a revenue growth up mid-teens with a recurring operating income between €6.4 and €6.5 billion.

The group had already raised its guidance in July, after it posted stronger-than-expected first-half profits driven by demand for spare parts.

Its Equipment and Defence division generated a €3.6 billion quarterly revenue, slightly above the €3.5 billion expected by analysts.

"In defense, our activities are benefiting from robust market dynamics, and we are expanding our production capabilities to prepare for future growth," Chief Executive Olivier Andries said in a statement.

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

Safran co-produces LEAP jet engines for narrow-body Boeing and Airbus jetliners with GE Aerospace GE.N through their CFM joint venture, the world's largest engine maker by units sold.

GE Aerospace 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.