May 12 (Reuters) - Italian rocket maker Avio AVI.MI said on Tuesday its first-quarter core earnings rose from the year before as stronger revenue offset higher costs tied to its U.S. business.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose about 30% to 5.2 million euros ($5.9 million) in the first quarter of 2026.

Order backlog stood at 2.12 billion euros. Order intake during the period was around 80 million euros, CFO Roberto Carassai said in the post earnings call.

• Reported net revenue rose 19% to 128.5 million euros, driven by Vega C production activities and defense business growth

• The rocket maker confirmed its 2026 guidance, expecting EBITDA in a range of 27 to 35 million euros, and a net profit between 8 and 13 million euros

• Quarterly order intakes mainly came from development activities on Vega family launchers and a defense contract with the U.S. army

• Brokerage Equita expected the "weakest quarter of the year" to bring moderate growth in line with 2026 guidance

• Equita forecast first-quarter net revenues of 115 million euros and an adjusted EBITDA of 4.6 millions

• An upcoming launch of Vega C is scheduled on May 19; it will carry the ESA and CAS scientific satellite Solar wind Magnetosphere Ionosphere Link Explorer (SMILE)

• Excluding the U.S. army contract, most of Avio's orders are to be awarded by European Space Agency (ESA), brokerage Equita says.

• Raytheon RTX.N and Lockheed Martin LMT.N orders for the new U.S. plant are also still expected at a later date

($1 = 0.8524 euros)