MTU Aero Confirms Adjusted Guidance After Pratt & Whitney Jet Engines Recall
13 Septiembre 2023 - 10:26AM
Noticias Dow Jones
By Mauro Orru
MTU Aero Engines backed its adjusted guidance for the year after
Pratt & Whitney parent RTX said it would recall hundreds of jet
engines for inspection due to suspected contaminated metal in some
parts that could lead to cracking.
RTX, previously known as Raytheon Technologies, said Monday that
it would remove about 600 to 700 Pratt engines for inspection over
the next three years due to the previously disclosed issue related
to the powdered metal used to make certain engine parts. MTU
supplies key components for Pratt's geared-turbofan engines that
power aircraft such as Airbus's A320neo.
Earlier this week, MTU said it was expecting a hit of around
EUR1 billion to revenue and reported EBIT after the jet engines
recall.
Executives from the German aircraft-engine manufacturer said
during a call Wednesday that the group is still targeting revenue
between EUR6.1 billion and EUR6.3 billion this year, though the
forecast is still subject to adjustments. Adjusted earnings before
interest and taxes--a key profitability metric for MTU--should come
in slightly higher than EUR800 million.
"The financial burdens arising from the geared turbofan
inspection program are undoubtedly present, but they are not likely
to be reflected in the adjusted guidance figures," said Chief
Executive Lars Wagner.
The company also backed its 2025 outlook, projecting a steady
rise in revenue to around EUR8 billion and adjusted EBIT of around
EUR1 billion.
"We are working intensively to minimize the inspection program's
impact on our customers," Wagner said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
September 13, 2023 11:11 ET (15:11 GMT)
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