Bombardier Reports Increased Earnings and Revenue for Second Quarter
Bombardier reported its second quarter 2018 results, showing an 18% increase in earnings and $4.3 billion in revenues, driven by strong 11% growth at its Transportation segment.
Bombardier Inc. announced its second quarter 2018 financial results, reporting an 18% year-over-year increase in earnings alongside a 3% rise in revenues to $4.3 billion. The revenue growth was primarily propelled by an 11% expansion within the company's Transportation division.
The company's earnings before special items reached $271 million, an 18% increase from the previous year, while the EBIT margin improved by 80 basis points to 6.4%. Bombardier reiterated its progress on its turnaround plan, confirming it is on track to meet its 2018 guidance and 2020 objectives.
Key strategic maneuvers during the quarter included the early completion of a partnership with Airbus and the finalization of the $600 million sale of its Downsview property. These actions provided significant financial strengthening for the company.
Bombardier maintained a robust backlog across all business segments. The Transportation segment reported a backlog of $34 billion. The business aircraft division saw its backlog increase by $200 million to $14.1 billion, supported by the introduction of new aircraft models such as the Global 5500 and Global 6500.