Bombardier Reports 3% Revenue Increase in Q2 2018
Bombardier Inc. announced its second-quarter 2018 financial results, showing an 18% increase in earnings and a 3% rise in revenue to $4.3 billion. The company indicated progress in its turnaround plan.
Montreal – Bombardier Inc. reported its second-quarter 2018 financial results on August 2, 2018, highlighting an 18% increase in earnings and a 3% rise in revenue to $4.3 billion compared to the same period last year.
The company attributed revenue growth largely to its Transportation segment, which saw an 11% increase. Bombardier stated it is on track to meet its 2018 guidance and 2020 objectives. Order backlogs expanded across all business segments.
Adjusted EBIT margin improved by 80 basis points to 6.4%. The company also reduced its free cash flow usage to approximately $370 million, supporting its aim for neutral free cash flow for the year. Restructuring costs were managed within the reported financials.
Key strategic actions during the quarter included the early termination of its partnership with Airbus and the announcement of significant new orders, such as 35 CRJ Series jets and 16 Q400 turboprops. Bombardier also introduced its new Global 5500 and Global 6500 business jets and enhanced the performance of the Global 7500 aircraft.