May 22nd, 2024

Aircraft maker Bombardier reports Q1 profit and revenue down from year ago

By The Canadian Press on April 25, 2024.

MONTREAL – Bombardier Inc. reported a first-quarter profit of US$110 million, down from a profit of US$302 million a year earlier, as its revenue fell 12 per cent.

The Montreal-based aircraft maker, which keeps its books in U.S. dollars, says the profit amounted to US$1.02 per diluted share for the quarter ended March 31, down from US$2.98 per diluted share in the same quarter last year.

Revenue totalled US$1.28 billion, down from US$1.45 billion.

The company says it delivered 20 aircraft for the quarter and remains on track to reach its planned guidance for the year, while its services revenue rose 13 per cent compared with a year ago.

On an adjusted basis, Bombardier says it earned 36 cents US per diluted share, down from an adjusted profit of US$1.06 per diluted share a year earlier.

Bombardier says its order backlog stood at US$14.9 billion at March 31, up from US$14.2 billion at Dec. 31, 2023.

This report by The Canadian Press was first published April 25, 2024.

Companies in this story: (TSX:BBD.B)

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