0941 GMT - MTU Aero Engines delivered strong free cash flow in the third quarter that gave it bandwidth to boost its annual cash conversion target, Jefferies analysts write in a note to clients. The German aircraft-engine manufacturer posted free cash flow of 172 million euros for the quarter, up from 67 million euros a year earlier. The figure is well above consensus of 109 million euros, analysts say. The company said strong free cash flow meant it was now projecting a cash conversion rate of 55% to 60% for the year, better than prior guidance of 50% to 60%. MTU shares trade 2.7% lower at 323.20 euros.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments