“Rolls-Royce shares soar by 23% after annual results crush expectations”
February 23, 2023
“Shares of London-listed aviation manufacturer Rolls-Royce soared Thursday, after the company sharply beat expectations with a 57% year-on-year increase in underlying profit, driven by its civil aerospace and power systems.
Its stock was up by 23% at roughly 1:30 p.m. London time. The company recorded £652 million ($786 million) of underlying profit last year, £238 million higher than in 2021 — exceeding analyst forecasts near £478 million, as polled by Reuters. Rolls-Royce’s free cash flow from continuing operations added £2 billion on the year to £505 million in 2022.
The company attributed the results to recovering demand for international travel, noting a 35% year-on-year hike in large engine flying hours for civil aerospace…”
https://www.cnbc.com/2023/02/23/rolls-royce-shares-soar-after-annual-results-crush-expectations.html