Bombardier Swings to Quarterly Profit With Jump in Aircraft Deliveries

Dow Jones07-25

By Robb M. Stewart

Bombardier swung to a profit in the second quarter on a steady rise in service income and a jump in aircraft deliveries.

The Canadian jetmaker recorded net income of $19 million, or 12 cents a share, for the three months against a year-earlier loss of $35 million, or 44 cents, a year earlier.

On an adjusted basis, a metric that strips out one-time and other items, per-share earnings rose to $1.04. That beat the mean forecast of analysts polled by FactSet for 77 cents.

Revenue was rose 32% on last year at $2.2 billion, ahead of the $1.84 billion expected by analysts.

Bombardier, which operates facilities in Canada, the U.S. and Mexico, said it delivered 39 aircraft in the latest period, 10 more than in the same period last year and keeping it on track for a full-year target of 150 to 155 deliveries.

Order intake in the quarter lifted the value of Bombardier's backlog to $14.9 billion, roughly 5% higher than last year at the same time.

Services contributed $507 million to revenue, an increase of 18% year-over-year and at a pace the company said supports its target of reaching $2 billion in revenue by 2025.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

July 25, 2024 07:41 ET (11:41 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Stewart \n\n\n \n\n\n  Bombardier swung to a profit in the second quarter on a steady rise in service income and a jump in aircraft deliveries. \n\n\n  The Canadian jetmaker recorded net income of $...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BDRBF","symbol_name":"Bombardier Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2454824667","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2454824667","pubTimestamp":1721907660,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Bombardier swung to a profit in the second quarter on a steady rise in service income and a jump in aircraft deliveries.The Canadian jetmaker recorded net income of $19 million, or 12 cents a share, for the three months against a year-earlier loss of $35 million, or 44 cents, a year earlier.On an adjusted basis, a metric that strips out one-time and other items, per-share earnings rose to $1.04. 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Stewart \n\n\n \n\n\n  Bombardier swung to a profit in the second quarter on a steady rise in service income and a jump in aircraft deliveries. \n\n\n  The Canadian jetmaker recorded net income of $19 million, or 12 cents a share, for the three months against a year-earlier loss of $35 million, or 44 cents, a year earlier. \n\n\n  On an adjusted basis, a metric that strips out one-time and other items, per-share earnings rose to $1.04. 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