1242 GMT - Rolls-Royce confirmed trading is in line with expectations while guidance was fully reiterated. Engine flying hours point to the lower half of the guidance range, however, which could disappoint some investors, Jefferies analysts Chloe Lemarie and Ben Brown write. The impact of this could be offset by positive wording around "further confidence" in achieving full-year guidance, despite a challenging supply chain environment, they say. Demand in civil and defense remains strong, while power systems continues to see strong growth. Large engine flying hours are still expected at 100%-110% of 2019 levels. Shares fall 3.6% to 553 pence. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 07:42 ET (12:42 GMT)
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