Bombardier Announces Strong 2022 Preliminary Earnings
Bombardier’s preliminary 2022 financial results show that the Canadian manufacturer’s 2022 year-end performance will exceed full-year guidance.
An increase in aircraft deliveries has resulted in a projected revenue of US$6.9 billion in 2022, beating the previous guidance of $6.5 billion. Bombardier delivered 123 aircraft in 2022 compared to their guidance of less than 120 aircraft, giving it a full-year book-to-bill of 1.4 and an anticipated order backlog of US$14.8 billion.
The company’s liquidity position has also been revised to US$1.7 billion, which includes cash and cash equivalents of US$1.3 billion and US$0.4 billion in restricted cash. The projected liquidity excludes the five-year US$300 million revolving credit facility secured in November 2022, which remains fully undrawn.
Bombardier will release their fourth quarter and full-year 2022 results on February 9, 2023.
In November 2022, the business jet manufacturer reported a growing backlog of orders and reduced its overall debt, with 25 aircraft deliveries and US$1.5 billion in revenue for the third quarter of 2022.