Bombardier reports 1Q 2024 earnings of $110 million

Bombardier

reported its first quarter 2024 earnings, which came in at US$110 million, down from US$302 million last year. Revenues for the quarter were US$1.28 billion, down 12% from last year’s quarter, as the company delivered 20 aircraft during the quarter versus 22 a year earlier.

The good news is that demand remained robust, as Bombardier recorded a strong book-to-bill ratio of 1.6 during the quarter. Despite the shortfall in deliveries, the company expects to deliver 150 to 155 jets this year.  “We are seeing a lot of activity around the Global family,” said Eric Martel, CEO, referring to the larger of the two aircraft families from the Montreal-based company (Challenger is the other.)  “While we continue to require more working capital investment in the near term, we will be well placed in the second half of the year and well beyond,” Martel told analysts on a conference call Thursday.

Bombardier also introduced its new logo, shown in the graphic below. The symbol itself, the Bombardier Mach, features the silhouette of an aircraft breaking the sound barrier—an ode to the ambition and innovative spirit of Bombardier’s talented people—while the strokes of wind over an aircraft reference the company’s deeply rooted heritage and the Learjet brand’s storied winglet iconography.

“This evolved brand is a catalyst for Bombardier to differentiate itself as a global leader, not just amongst aerospace and defense peers, but proudly with the world’s leading inspirational brands,” said Ève Laurier, Vice President, Communications, Marketing and Public Affairs, Bombardier. “Our brand has been crafted to coherently tie notions of our heritage and precision-driven engineering. The brand describes our future, in which we will express a heightened sophistication of our technology, how our employees master their craft and, above all, the customer experience.”