Bombardier reports Q1 adjusted EPS 36c, consensus 20c

Reports Q1 revenue $1.3B, consensus $1.45B. “Our team came flying out of the gates in 2024 on soaring aircraft orders and service revenues. The unit book-to-bill of 1.6 and $700 million backlog increase are even more meaningful when you take stock of solid activity across traditional customers, fleets and new opportunities materializing for Bombardier Defense,” said Eric Martel, President and Chief Executive Officer, Bombardier. “Building our backlog, growing recurring income streams, and retiring debt have all been staples of Bombardier’s solid performance and our first quarter of 2024 delivered on all three very positively. This level of focused execution continues to provide solid ground for our team and balance sheet to stand on.” Martel added, “I also want to commend the teams working hard to keep our delivery plan and profile on track toward our full-year guidance. We continue to be flexible and proactive, all while keeping an eye on the bottom line and our commitments. On that front, achieving a 16% adjusted EBITDA margin for the quarter in this landscape is nothing short of exceptional and speaks to the tremendous collective effort to stay focused on our fundamentals and work to our plan.”