Post by
Tempo1 on Jan 14, 2024 3:09pm
Confirmation for 138 deliveries from Aviation Week
From CIBC Aerospace weekly
BBD Hits Q4 Delivery Target --
Transportation & Aerospace Weekly
Key Points
Aviation Week published global new business aircraft deliveries for
December 2023. Our key takeaways are:
• BBD delivered 39 aircraft in December and 56 in the fourth quarter,
bringing its annual total to 138. This is exactly equal to BBD’s annual
target and in line with our expectations. BBD delivered 49 planes in
Q4/22. BBD’s fourth quarter 2023 deliveries consisted of 20 Challenger
3500, four Global 5500, nine Global 6500, 17 Global 7500, and six
Challenger 650.
• With BBD hitting its annual delivery target, this alleviates concerns
around the risk of hitting its full-year target given how back-end loaded
deliveries would be and the ongoing supply chain issues impacting the
aerospace industry. BBD’s ability to meet its 2023 revenue, EBITDA and
FCF guidance has been significantly de-risked. On this last point,
reaching its delivery target is a key driver of unwinding working capital
and putting it in a position to generate ~$640MM of FCF in Q4 and to
achieve its full-year guidance of more than $250MM. In addition, BBD
did announce 12 Challenger 3500 orders on December 22, which puts it
in a strong position to deliver a book-to-bill of ~1x when it reports Q4
results.
• In terms of total Q4 deliveries, global business jet deliveries totaled 154
units in December versus 158 aircraft in December 2022. For the fourth
quarter, total deliveries were 262 units versus 250 the year prior.
Amongst the business jet manufacturers, BBD led the way with 56
deliveries followed by Embraer and Textron – both of which delivered 50
units. Gulfstream delivered 29 aircraft in Q4.
Comment by
johnney on Jan 14, 2024 3:26pm
Yes, they did do all this, but the market, knows already this, but doesn't react on the S/P, it should of it, IMO!!
Comment by
johnney on Jan 15, 2024 12:38am
Well if they met all this for quarter 4, and filled for 2023, Friday we had a good drop, didn't we, despite this good article, am I missing something!!