Bombardier Order Surge Signals Resilient Business Jet Demand
Dow Jones11-06
1106 ET - Bombardier's stronger-than-expected orders show that demand for business jets is still going strong. TD Cowen's Tim James notes that 3Q book-to-bill ratio, which was of 1.7x and a dollar-based ratio of 1.2x, topping analyst expectations of 0.9x. He says this "suggests no cracks in business jet cycle and continuing resiliency to geopolitical events and general uncertainty." The momentum was also reflected across other business jet manufacturers during the quarter, James notes. "Services revenue continues to come in ahead of expectations," James notes, adding that the Defense segment activity was also a highlight, "a business that has become an important sentiment driver."
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