AIR.PA · PEAD ↓ 22

Airbus reported Q2 2026 EPS of €2.28 on 2026-07-29, beating the €1.97 consensus by €0.31 (+15.7%).

Print-day reaction was -1.0% versus the prior close, a muted negative move despite the meaningful EPS beat — the market evidently saw other concerns in the report. The overnight gap to the T+1 open extended the decline by a further -1.6%, signalling no after-hours recovery.

Over the following two trading days the stock drifted +1.96% off T+1 close, a partial recovery that was insufficient to offset the initial damage. Cumulative abnormal return of -4.2% versus SPY.US — which gained +2.3% over the same window — puts this firmly in PEAD short territory; the documented drift pattern holds through 2026-10-26.