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Bombardier surpasses revenue forecasts despite Q3 loss

Published Nov 02, 2023 10:18AM ET
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Canadian jet manufacturer Bombardier (OTC:BDRBF) experienced a downturn in its third quarter of 2023, reporting a loss of $37 million compared to the profit of $27 million made during the same period last year. Despite this setback, the company's revenue rose to $1.86 billion, exceeding predictions.

The revenue boost was attributed to a flourishing aftermarket business and increased aircraft deliveries. In Q3, Bombardier delivered six more aircraft compared to the same period last year, bringing the annual total up to 82. The company's adjusted earnings were reported at 73 cents per share, significantly outperforming the expected 46 cents.

In addition to this, Bombardier ended the quarter with a substantial backlog worth $14.7 billion. This reaffirms the company's commitment to meeting its annual delivery guidance. Despite the Q3 loss, the increased revenue and robust backlog underline Bombardier's resilience and potential for growth in the aviation sector.

InvestingPro Insights

Bombardier's financial performance can be further understood through key metrics provided by InvestingPro. The company's Price-to-earnings (P/E) ratio, as of Q2 2023, stands at a low 6.07, indicating that it is trading at a low earnings multiple, a point echoed by one of the InvestingPro Tips. This might suggest that the company's shares are undervalued, offering potential for growth.

The company's revenue growth has been accelerating, as shown by a 20.17% increase in the last twelve months as of Q2 2023, and a 7.58% increase in Q2 2023 alone. This aligns with the reported revenue boost in the article and is a positive sign of the company's financial health.

Lastly, the company's Gross Profit Margin for the last twelve months as of Q2 2023 stands at 19.55%, indicating a healthy level of profitability.

InvestingPro Tips highlights that Bombardier operates with a significant debt burden, yet its net income is expected to grow this year. The company's stock price movements are quite volatile and the price has fallen significantly over the last three months, which might offer a buying opportunity for investors. For additional insights and tips, consider exploring the InvestingPro platform, which offers a comprehensive selection of over 10 tips for Bombardier.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Bombardier surpasses revenue forecasts despite Q3 loss
 

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