Bombardier Cl A MV(TSE:BBD.A)
CA$345.90+2.90 (+0.85%)
TSE:BBD.A
Bombardier Cl A MV earnings date
CA$345.90
At close:+2.90 (+0.85%)
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Bombardier Cl A MV (BBD.A) Q3 2026 Earnings Report
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TSE:BBD.A Q3 2026 EPS Results
- Actual EPS
- CAD 2.41
- Consensus EPS
- CAD 2.27
- Beat/Miss
- Beat by +CAD 0.14
- One Year Ago EPS
- CAD 1.71
TSE:BBD.A Q3 2026 Revenue Results
- Actual Revenue
- CAD 3.32B
- Expected Revenue
- CAD 3.36B
- Beat/Miss
- Missed by -CAD 34.55M
- YoY Revenue Growth
- +4.57%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
TSE:BBD.A Upcoming Earnings
Bombardier Cl A MV's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, characterized by record services revenue, higher profitability, substantial free cash flow improvement, a raised free cash flow outlook, robust backlog and book-to-bill, strong liquidity, and multiple growth investments across services, defense, production capacity, and U.S. operations. The main challenges were persistent supply chain pressures, approximately 150 basis points of current impact, potential delays in production ramps, short-term MHI integration costs, a Middle East slowdown, and geopolitical uncertainty. Overall, the company's positive operating momentum and financial position significantly outweighed the stated risks.
Company Guidance
Bombardier raised its full-year free cash flow guidance for the second time this year to greater than $1.3 billion, up from greater than $1 billion, while remaining on track to deliver guidance across all other metrics, including adjusted EBITDA guidance of greater than 16.25; 2026 CapEx is planned to be closer to $300 million at year end. Fourth-quarter deliveries are expected to follow the same profile seen in 2025, with strong EBITDA margins expected in Q4, and the company expects aircraft mix, including higher defense content and continued services growth, to support revenues and earnings. The company said gradual improvements in the supply chain have to be expected over the years, with a material amount of supply-chain costs expected to be recovered over a few years, and that any production ramp-up could involve a small delay.
- Record Services Revenue and Customer Support RankingQuarterly services revenue reached a record $701 million, up 19% year-over-year, driven by high aircraft utilization, continued fleet growth, and the expanded global service network. Bombardier again ranked number one in leading industry product support surveys against all competitors.
- Strong Revenue and Profitability GrowthTotal revenue increased 3% year-over-year to $2.4 billion, while adjusted EBITDA rose 7% to $382 million. Adjusted EBITDA margin reached 16.1%, a 70 basis point increase, primarily reflecting services growth and lower R&D expenses, partially offset by higher SG&A and continued supply chain pressures.
- Robust Backlog and Order ActivityQuarterly unit book-to-bill was 1.7x and year-to-date book-to-bill was 2.1x. Backlog reached $22.2 billion, up 27% from year-end 2025 and 34% year-over-year, supported by multi-year demand across all aircraft types.
- Strong Free Cash Flow and Raised GuidanceThird-quarter free cash flow was $183 million, up $31 million, or 20%, year-over-year. Free cash flow for the first nine months was $771 million versus cash usage of $316 million in the prior-year period, an improvement of almost $1.1 billion. Full-year free cash flow guidance was raised for the second time to greater than $1.3 billion, from greater than $1 billion.
- Healthy Balance Sheet and Improved Credit ProfileBombardier ended the quarter with approximately $2.4 billion of available liquidity, including $1.6 billion of cash and a $750 million committed revolver, up from $450 million in the prior quarter. Net leverage improved to 1.5x, reaching the new long-term target. Moody's upgraded the company's credit rating from Ba3 to Ba2 in August while maintaining a positive outlook, and no debt matures before November 2030.
- Defense Business Momentum and Strategic WinsBombardier reported solid activity and a growing long-term defense pipeline, including NATO's selection of Saab's GlobalEye solution and the Canadian government's down-selection of the same platform for its defense needs. The company also cited PEGASUS in Germany and HADES in the U.S. as projects opening new mission opportunities.
- U.S. Expansion InvestmentBombardier announced $270 million of infrastructure investment over time and the hiring of hundreds of people to expand manufacturing and service capabilities in the U.S., including Kansas, Texas, and Indiana. The investment is intended to bring capabilities closer to customers in the world's largest business aviation market.
- Continued Services Network ExpansionThe company highlighted the opening of a new service center in Fort Wayne, Indiana, the acquisition of Velocity Maintenance Solutions, and the opening of a line maintenance station in Sydney, Australia. Bombardier said the additional $270 million U.S. services expansion fits within existing capital investment plans.
- Vertical Integration Through MHI Canada Aerospace AcquisitionThe planned acquisition of MHI Canada Aerospace, expected to close later in the year or next month as described on the call, would give Bombardier control over wing production across its aircraft portfolio, including the Global 8000 wing plant in Red Oak, Texas. Management said the transaction should strengthen vertical integration, operational resilience, cost management, and delivery performance over the medium and long term.
- Production Capacity InvestmentsConstruction of the new Montreal facility remains on track to open by the end of 2027 and is expected to support additional future production capacity, with Challenger 3500 production growth and incremental deliveries beginning in 2028. Planned 2026 capital expenditures are approximately $300 million.
- Positive Fourth-Quarter Execution OutlookManagement said fourth-quarter deliveries are expected to follow the same profile as in 2025 and that the company has the parts, people, processes, and visibility needed to achieve its year-end goal. The company expects strong fourth-quarter margins, supported by a significant number of Global aircraft deliveries, particularly Global 8000 aircraft, and reiterated full-year adjusted EBITDA guidance of greater than 16.25% margin.
- Broad-Based Global DemandDemand was described as solid across North America and Europe, with Asia performing well and Canada benefiting from the abandonment of the luxury tax. Management said the market remains strong across all aircraft platforms and that pricing conditions are solid.
- Services Growth Supported by Higher Flight ActivityFlight hours were reported to be 45% above pre-COVID levels for Challenger aircraft and 77% above pre-COVID levels for Global aircraft. Flight hours on both platforms were up another 7% year-over-year, while the growing installed base and maturation of Global 7500 and 8000 aircraft are expected to support additional maintenance activity.
- Growing Fleet Operator OpportunityBombardier said approximately 20% of current aircraft deliveries go to fleet operators and that the company has replenished its fleet-operator backlog for the next 10 years. Management expects the share to increase, noting that fleet operators typically fly five to six times more than regular customers and therefore consume more services. The company also cited expected growth of about 6% or more per year in the number of ultra-high-net-worth individuals over the next five to six years.
- Potential Production Rate ExpansionManagement said strong backlog, strong demand, low pre-owned aircraft inventory, solid pricing, and infrastructure investments provide serious potential to increase production rates. The company is assessing supplier, workforce, space, and machining capacity before making decisions and expects to provide more detail at Investor Day.
- GlobalEye Production Opportunity in CanadaBombardier is discussing with Saab the possibility of performing GlobalEye modifications in Canada to address the platform's high demand. The company is targeting a location decision in the first quarter and is evaluating both building and leasing options based on return on invested capital.
- Capital Allocation Flexibility and Product Investment OptionsManagement said strong expected free cash flow over the next five to six years creates flexibility for higher aircraft output, product improvements, services expansion, defense growth, accretive M&A, balance-sheet strengthening, and shareholder returns. Approximately half of future capital allocation could potentially go toward improving products, including a possible new aircraft, although no decision has been made.
- Potential BAE CollaborationBombardier said its MOU with BAE could allow it to provide engineering, manufacturing, component, part, or technology support to the program. The company emphasized that it has no ambition to undertake a full fighter program but is exploring a longer-term opportunity to develop technology and create related work scope in Canada.
- Helicopter Transaction ProgressManagement said momentum remains in the significant helicopter-company transaction and that it expects to be able to announce progress in the near future, potentially in the fourth quarter or later.
TSE:BBD.A Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 11, 2027 | 2026 (Q4) | 5.79- | 6.53 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 2.272.41 | 1.71 | 40.76% (+0.70) | |
| Jul 30, 2026 | 2026 (Q2) | 1.873.50 | 1.53 | 128.27% (+1.97) | |
| Apr 30, 2026 | 2026 (Q1) | 1.052.46 | 0.84 | 191.94% (+1.62) | |
| Feb 12, 2026 | 2025 (Q4) | 4.686.53 | 4.31 | 51.40% (+2.22) | |
| Nov 06, 2025 | 2025 (Q3) | 1.961.71 | 1.03 | 66.67% (+0.68) | |
| Jul 31, 2025 | 2025 (Q2) | 1.461.53 | 1.44 | 6.82% (+0.10) | |
| May 01, 2025 | 2025 (Q1) | 0.930.84 | 0.49 | 71.20% (+0.35) | |
| Feb 06, 2025 | 2024 (Q4) | 3.044.31 | 1.84 | 133.66% (+2.47) | |
| Nov 07, 2024 | 2024 (Q3) | 1.001.03 | 1.01 | 1.89% (+0.02) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
