06:24:25 EDT Fri 17 May 2024
Enter Symbol
or Name
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CA



Bombardier Inc (2)
Symbol BBD
Shares Issued 86,737,000
Close 2023-08-03 C$ 61.79
Market Cap C$ 5,359,479,230
Recent Sedar Documents

Globe/wire say Bombardier tops Q2 profit estimates

2023-08-04 07:10 ET - In the News

The Globe and Mail reports in its Friday, Aug. 4, edition that Bombardier on Thursday posted a quarterly profit that beat expectations. A Reuters dispatch to The Globe reports that Bombardier posted a second quarter profit of $10-million from continuing operations, compared with a loss of $109-million in the year-earlier period. Bombardier reported a cash burn of $222-million compared with positive free cash flow of $341-million in the same period a year ago. Analysts polled by Refinitiv had expected negative free cash usage of $171-million. Bombardier chief executive officer Eric Martel said that despite "pressure points" like some smaller suppliers, the supply chain is improving and will "remain a key area of focus for the foreseeable quarters." Bombardier's after-market revenue, which comes from servicing planes, grew 19 per cent on an annual basis in the second quarter, helping its profitability. However, there are early signs that demand may be flattening. Bombardier said its backlog at the end of June was up just 0.7 per cent from the end of March at $14.9-billion. On a per share basis, quarterly adjusted profit was 72 cents, compared with a loss of 48 cents a year earlier.

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