(Montreal) Good results in the third quarter, including an increase in revenues and profits, place Bombardier “on track” to achieve its forecasts for the entire year.
Posted at 7:53 a.m.
The Quebec aeronautics specialist reported net profit of US$117 million, or US$1.09 per share, during its quarter which ended September 30.
This result represents an improvement compared to the same period last year, when Bombardier suffered a loss of US$37 million, or US$47 cents per share.
For the third quarter, Bombardier saw its revenues jump 12%. They went from US1.86 billion last year to US2.07 billion this year.
The company mainly attributes this increase in revenue to the performance of its service activities and the delivery of 30 aircraft during the quarter.
Bombardier’s order book stood at 14.7 billion as of September 30.
In a statement, Bombardier President and CEO Éric Martel noted that operational and service activities continue to be high and place the company “on track to achieve [ses] forecast for the full year.
On an adjusted basis, Bombardier said it earned 74 US cents per share in its most recent quarter, compared to adjusted earnings of 73 US cents per share in the same quarter last year.
Analysts on average expected adjusted earnings of 73 US cents per share, according to LSEG Data & Analytics.
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