Bombardier Delivers More Aircraft, Reports Growing Backlog in Second Quarter

The company said profit increased when adjusted to exclude discontinued operations and other special items.

Jonathan Welsh

Thursday, August 03, 2023 at 03:51 PM ET

Verified

Bombardier said it is on course to deliver more than 138 aircraft this year. [Courtesy: Bombardier]

Key Takeaways:

Bombardier achieved profitability in its continuing operations for the second quarter, driven by strong demand for new and pre-owned jets and growth in service operations.
The company reported an 8 percent increase in revenue to $1.68 billion, with aftermarket revenue specifically rising 19 percent year-over-year.
Despite an overall net loss of $35 million, this was a significant improvement from the previous year's $129 million loss, and adjusted income totaled $80 million.
Bombardier maintains a robust backlog of $14.9 billion and is on track to meet its full-year delivery guidance, with a recent credit rating upgrade highlighting financial discipline.

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Bombardier said its second-quarter results included a swing to profitability in its continuing operations, reflecting demand for new and pre-owned jets, and steady growth of its service operations.

For the recent quarter, the company posted a net loss of $35 million compared with a loss of $129 million a year earlier. Revenue for the quarter rose 8 percent to $1.68 billion from $1.56 billion in 2022.