Rolls-Royce's Performance Fair Despite Engine Flying Hours at Lower End of Guidance -- Market Talk

Dow Jones11-07

1010 GMT - Although Rolls-Royce reports engine flying hours toward the lower end of guidance, its general performance appears to be reasonable, Shore Capital analyst Jamie Murray says in a note. Engine flying hours is a crucial aviation metric which enables operators to track and maintain the health and performance of aircraft engines. The engineering company is still facing challenges in its aerospace supply chain but management hasn't flagged any further cash costs beyond the 150 million pounds to 200 million pounds announced in August, Murray says. The company has been shortlisted as one of the four potential small modular reactor providers, the analyst adds. "Whilst we expect to moderate our numbers ahead of full year results, we do not believe a material change will be required, but will revert in due course," he says. Shares are down 4.9% at 546 pence. (anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

November 07, 2024 05:11 ET (10:11 GMT)

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