Bombardier said its revenue increased by 14 percent in 2022, driven in part by higher deliveries and a favorable mix of aircraft. The company also said it anticipates deliveries will grow by 12 percent to more than 138 aircraft this year, from 123 in 2022.
The company reported a net loss of $148 million, or $1.88 per share, for the full year compared with net income of $5.07 billion, or $50.54 per share. The company said adjusted net income, including continuing operations, only totaled $101 million or 74 cents per share. Revenue for the year rose to $6.91 billion from $6.09 billion a year earlier.
Backlog totaled $14.8 billion, an increase of $2.6 billion from a year ago, reflecting “strong order intake and a steady demand profile,” Bombardier said.
“The 2022 results we are presenting today are a resoundingly positive culmination of a strong year, and a testament to the team’s effort to execute in the fourth quarter,” said Eric Martel, Bombardier’s president and CEO. “We exceeded commitments across the board, be it on deliveries, our growing aftermarket business and profitability.
Martel also said the company repaid $1.1 billion of debt during the year with cash from its balance sheet and operations, giving it “the flexibility to be even more proactive and opportunistic going forward.”
Bombardier said it expects 2023 revenue to rise above $7.6 billion, driven mainly by continued growth in deliveries. The company said executives will further discuss its strategic plans during its Investor Day event on March 23.