Financial GuidanceSafran H2 ROI came in slightly below expectations.
Operational PerformanceLEAP deliveries were slightly below expectations for Safran, which could impact future projections.
Stock ValuationThe stock now trades on an FY3 P/E of 22x, justified given the group's fundamentals, but in-line with the two-year average and a ~10% discount to peer GE, which is viewed as fair.