Bombardier Inc. T.BBD.A

Alternate Symbol(s): BDRBF | T.BBD.B | T.BBD.PR.B | T.BBD.PR.C | T.BBD.PR.D | BDRPF | BOMBF | BDRXF | BDRAF

Industrials Aerospace & Defense

Bombardier Inc. is a Canada-based manufacturer of business aircraft with a global network of service centers. The Company is focused on designing, manufacturing and servicing business jets. The Company has a worldwide fleet of more than 5,000 aircraft in service with a variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. It operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. Its robust customer support network services the Learjet, Challenger and Global families of aircraft, and includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Austria, the United Arab Emirates, Singapore, China and Australia. The Company's jets include Challenger 350, Challenger 3500, Challenger 650, Global 5500, Global 6500, Global 7500 and Global 8000.

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Bombardier Inc.

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Post by Tempo1on Jan 24, 2024 9:47am

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Post# 35842672

RBC: Connecting the dots (GD Results)

Connecting the Dots: BBD flash read-through – GD's Aerospace segment drives results

What happened?

General Dynamics (GD) today reported Q4 results, with EPS coming in at $3.64, below consensus of $3.68, and revenue of $11.7B, above consensus $11.4B driven by Aerospace and Marine Systems

Sentiment: Positive

Our view.

We view the strong Q4 order and sales activity as a positive read-through for Bombardier and the bizjet production outlook. The Aerospace unit received $3.2B in new orders during what is a seasonally strong quarter, ending the year with 1.2x book-to-bill. Sales at the unit, which produces Gulfstream jets, were up 12% y/y on 39 aircraft deliveries and margins came in strong at 16.4% (vs 13.8% in 4Q22) on mix. No update was provided on the G700 certification in the release, but we expect to get an update on the call today. We note that further delays extend BBD's market leading position in large long range jets.