Lufthansa stock weighs revenue growth against EBIT drop

Published on 10/04/2026 at 18:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lufthansa stock reported EUR 11.141 billion in Q2 revenue, up 7.93 percent year over year. Adjusted EBIT fell to EUR 383 million as fuel costs rose.

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Lufthansa stock weighed 7.9 percent revenue growth against a sharp earnings decline in the second quarter. The shares were last at EUR 7.60 on Xetra on October 2, 2026 at 5:35 p.m. CEST, while the latest operating figures showed how quickly higher costs can absorb stronger demand.

Revenue grows as EBIT falls

According to Aviation Intelligence, Lufthansa Group generated EUR 11.141 billion in revenue in Q2 2026, up 7.93 percent from EUR 10.32 billion in Q2 2025. Adjusted EBIT fell to EUR 383 million from EUR 870 million, a 56 percent decline, and the adjusted operating margin dropped to 3.4 percent from 8.4 percent.

The contrast matters because the revenue increase points to continued pricing and demand support, while the profit comparison exposes the cost burden. The same Q2 data show net income of EUR 123 million, down from approximately EUR 1.0 billion in the year-earlier quarter.

Fuel costs pressure the forecast

Reuters reported on September 29, 2026 that CEO Carsten Spohr expects Lufthansa's additional 2026 jet fuel bill to exceed EUR 1.5 billion. The carrier still reaffirmed its 2026 operating profit forecast of EUR 1.7 billion to EUR 2.2 billion, compared with EUR 2.0 billion in the previous year.

Fuel hedging provides a partial buffer. Lufthansa's 2026 hedge ratio was 86 percent, according to the Reuters report, but management also said the higher fuel burden could affect profits and complicate the group's plan for an 8 percent to 10 percent operating margin in 2028 to 2030.

Analysts split near EUR 7.60

According to Markets Insider on September 24, 2026, Bernstein kept a Hold rating and a EUR 9.00 price target. That target lies 18.4 percent above the EUR 7.60 Xetra price, putting the analyst view above the current quote despite the fuel risk.

Lufthansa stock remains below its 52-week high of EUR 10.29 and above its 52-week low of EUR 6.72. Its market capitalization was EUR 9.1 billion on October 2, 2026, with 4,412,397 shares traded in the latest market-data reading.

Stock stays below the yearly high

Lufthansa stock was last at EUR 7.60 on Xetra on October 2, 2026, up 0.11 percent from the prior session. The next test for the investment case is the Q3 report, because the summer travel period must convert revenue growth into stronger adjusted EBIT.