Aircraft maker Bombardier reports Q2 profit and revenue grow from year ago

Bombardier Aircraft Assembly Centre in Mississauga, Ont., on Monday, January 22, 2024. (Christopher Katsarov, The Canadian Press)

Bombardier Inc. reported a second-quarter profit of US$19 million, up from a loss of US$35 million a year earlier, as its revenue grew 32 per cent.

The Montreal-based aircraft maker, which keeps its books in U.S. dollars, says the profit amounted to 12 cents US per diluted share for the quarter ended June 30, up from a loss of 44 cents US per diluted share in the same quarter last year.

Revenue totalled US$2.20 billion, up from US$1.68 billion.

The company says it delivered 39 aircraft for the quarter and remains on track to reach its planned guidance for the year, while its services revenue rose 18 per cent compared with a year ago.

On an adjusted basis, Bombardier says it earned US$1.04 per diluted share, up from an adjusted profit of 72 cents US per diluted share a year earlier.

Bombardier says its order backlog stood at US$14.9 billion at June 30, up from US$14.2 billion at Dec. 31, 2023.

This report by The Canadian Press was first published July 25, 2024.

Companies in this story: (TSX:BBD.B)