Safran shares surged 7% in Paris trading after the aerospace giant reported largely in-line second-half 2025 results while significantly upgrading its 2028 financial outlook. The company posted adjusted revenue of €16.6 billion in H2 2025, up 16% year over year, with free cash flow of €2.1 billion exceeding market expectations of €1.8 billion.

For 2026, Safran issued guidance slightly ahead of forecasts, targeting revenue growth in the low- to mid-teens and recurring EBIT of €6.1-€6.2 billion. The company's free cash flow outlook of €4.4-€4.6 billion for 2026 also topped consensus estimates. Analysts noted the standout performance in cash generation, which includes an expected negative impact from French corporate surtax not fully reflected in market expectations.

Safran significantly raised its 2028 targets, now expecting revenue to grow at roughly 10% compound annual rate between 2024 and 2028, up from previous high-single-digit growth projections. Recurring operating income is forecast at €7.0-€7.5 billion, up from €6.0-€6.5 billion, with free cash flow over 2024-2028 now seen at about €21 billion versus the prior €15-€17 billion range. The company also increased its 2028 LEAP engine delivery target to 2,600 units from 2,500 previously.