| €3,237 million (€3.2B) |
| +29.0% |
| Recurring operating margin | 18.4% of sales | Record level |
| Free cash flow | €2,616 million (€2.6B) | +43% |
| Net income | ~€1.9 billion | +21% |
Safran raised its full-year targets above the prior ranges and above consensus :
| Guidance Metric | New FY 2026 Outlook | Prior FY 2026 Outlook (Feb 2026) |
|---|---|---|
| Revenue growth | Up low- to mid-teens (affirmed) | Up low- to mid-teens |
| Recurring operating income | €6.4 – €6.5 billion | €6.1 – €6.2 billion |
| Free cash flow | ~€5.0 billion | €4.4 – €4.6 billion |
The raised guidance was attributed to strong civil aftermarket demand, higher LEAP volumes, and robust defense activity .
Standard & Poor's upgraded its outlook on Safran to "positive" from "stable" (while affirming the existing rating), reflecting the company's record profitability and stronger cash generation outlook . (Note: S&P affirmed the existing rating; the outlook revision signals a potential future upgrade.)