Orders up by $300 million for Bombardier

Orders up $300 million for Bombardier

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Bombardier has recorded a US$300 million increase in its order backlog since the end of the second quarter of 2022, reaching US$15 billion in the quarter ended September 30. 

The ratio of new orders to shipments was 1.3, according to third-quarter 2022 results released by the company on Thursday.

The aircraft manufacturer also posted net income of US$27 million in the third quarter of 2022, or US$0.20 per share, compared to a loss of US$377 million in the same quarter a year earlier.

“Our results for the third quarter of 2022 demonstrated the great strength of our fundamentals […]. We are making steady and confident progress toward our long-term goals,” said Éric Martel, President and Chief Executive Officer of Bombardier, in a statement.

Revenues for this period increased slightly to total 1. US$46 billion, and the company still expects to deliver more than 120 aircraft during the year. These revenues include those derived from the after-sales service activities which increased by 20%.

“Our most recent service center inauguration in Florida is eloquent proof of the important contribution of the service activities. growing after-sales to our result,” added Mr. Martel. With the addition of service centres, service center expansions completed this year and another grand opening to come this month in the UK, we have increased our customer service footprint by at least 1 million square feet.”

The Quebec multinational also announced that it had reduced its debt by US$100 million during this quarter, bringing to US$873 million the total amount of debt repaid since the start of the exercise.