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 reported a swing to profitability in its continuing operations for Q2, driven by sustained demand for new and pre-owned jets and steady growth in service operations.
Total revenue increased by 8% year-over-year to $1.68 billion, significantly boosted by a 19% rise in aftermarket revenue to $428 million.
The company's backlog grew to $14.9 billion by quarter-end, and its financial discipline was recognized with a credit rating upgrade from S&P Global Ratings.

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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.