Bombardier posts 8% rise in Q2 revenues and highlights aftermarket

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by Mike Stones
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Bombardier has posted an 8% rise in revenue to reach $1.7bn in second-quarter (Q2) 2023 results compared with last year, thanks partly to an improved performance in aftermarket sales. Adjusted EBITDA climbed by 37% to reach $275m and reported EBIT was $245m.

The manufacturer delivered 29 aircraft during Q2, one more than the same quarter last year. And full-year deliveries are on course to match the guidance of over 138 deliveries, it confirmed.

The Q2 performance of Bombardier’s aftermarket business was described as “stellar”. Revenues in this segment rose 19% to total $428m compared with the same period of last year. Its backlog rose to $14.9bn – a rise of $0.1bn since the end of the previous quarter. This was supported by a 1.1x unit book-to-bill. Reported net income and adjusted net income reached $10m and $80m respectively.

The company posted a net loss for the quarter of $35m compared with a loss of $129m in Q2 2022.

Éric Martel, president and CEO, Bombardier praised the results achieved against a background of continuing supply chain challenges. “Our team successfully navigated a highly dynamic business environment that saw sustained demand for new and pre-owned jets, as well as steady service growth, all while supply chain pressure persisted,” he said.

“Thanks to our team’s tremendous work, we boosted our revenues this quarter by 8% year-over-year, driven in part by an exceptional 19% year-over-year aftermarket revenue increase,” Martel added. Read Bombardier’s full Q2 results here.

Meanwhile, Bombardier confirmed in April that its strategy to achieve aftermarket revenues of $2bn by 2025 was on track, having increased its aftermarket revenues by more than 50% since 2020. In Q1 results the manufacturer posted revenue up 17% to $1.5bn, rising from $1.2bn in Q1 2022. (Pictured is a Bombardier Global 7500).

 

Bombardier Q2 92023 results – at a glance

  • Revenues rises to $1.7bn, up 8% year-over-year
  • 29 deliveries and 19% year-over-year
  • Aftermarket revenue rises to $428m
  • Adjusted EBITDA rises by 37% to $275m
  • Reported EBIT was $245m
  • Reported net income and adjusted net income reach $10m and $80m respectively
  • Backlog of $14.9bn, reflecting expected demand profile at a unit book-to-bill of 1.1 times.
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