Leonardo stock faces Airbus quality risk after H1 growth

Published on 09/29/2026 at 07:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Leonardo stock posted H1 revenue of EUR 10.0 billion, up 12 percent, on July 30, 2026. Reuters linked a supplier issue to 500 Airbus jets on September 28.

Luftfahrt- und Rüstungswerk mit Helikopter und Jet auf Rollfeld bei Sonnenuntergang — Realistisches Motiv zeigt Rüstungsindustrie von Leonardo S.p.A. (ISIN IT0003856405) mit Helikopter und Flugzeug auf Rollfeld, Illustration mit AI erstellt.

Leonardo stock (ISIN IT0003856405) was last at EUR 49.23 on Euronext Milan on September 28, 2026, at 5:35 p.m. CEST, up 0.51 percent on the session. The immediate issue for investors is a supply-chain problem tied to 500 Airbus A321neo jets, while Leonardo enters the autumn with sharply higher first-half orders and revenue.

A supplier issue reaches 500 jets

According to Reuters on September 28, 2026, Airbus and Leonardo were investigating a coatings problem that triggered a quality alert on 500 A321neo aircraft. Leonardo has one supplier for the relevant coatings, while Airbus said 250 affected aircraft were still in production and that the issue did not affect safety.

The event creates a delivery-execution risk rather than a disclosed change to Leonardo's group guidance. Reuters reported that Airbus teams were working with Leonardo and the coatings supplier, with some aircraft deliveries moving into the fourth quarter.

H1 orders rose 45 percent

Leonardo reported H1 2026 new orders of EUR 16.0 billion, up 45 percent year over year, and revenue of EUR 10.0 billion, up 12 percent. EBITA reached EUR 780.0 million, an increase of 34 percent, while free operating cash flow stood at negative EUR 249.0 million, an improvement of 39 percent.

Those figures show the central tension in the stock. Order momentum and revenue growth are accelerating, but aircraft production and supplier execution can affect the timing of deliveries and cash conversion. Leonardo's investor calendar schedules its nine-month 2026 results for November 5, 2026, according to the same Leonardo investor page.

Leonardo stock holds near EUR 49

Leonardo stock was last at EUR 49.23 on Euronext Milan on September 28, 2026, at 5:35 p.m. CEST. Its 52-week range was EUR 44.25 to EUR 66.26, placing the reference price EUR 17.03 below the yearly high and EUR 4.98 above the yearly low.