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Bullboard - Stock Discussion Forum Bombardier Inc. T.BBD.A

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

Bombardier Inc. is focused on designing, manufacturing, and servicing business jets. The Company has a fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments, and private individuals. The Company designs, develops, manufactures and markets two families of business jets (Challenger and Global... see more

TSX:BBD.A - Post Discussion

Bombardier Inc. > CIBC: Ahead of expectations
View:
Post by lb1temporary on Jan 17, 2023 10:08am

CIBC: Ahead of expectations

2022 Preliminary Results Ahead Of Expectations; Issuing 2029 Notes Further De-risks Balance Sheet

Key Takeaway:


Positive impact. BBD released preliminary 2022 results that are ahead of expectations and its guidance. The company also announced the issuance of 2029 notes to take out all of its outstanding 2024 notes and some of its 2025 notes. We view this move positively as it further de-risks the balance sheet by pushing out debt maturities. Net-net, we continue to see BBD tracking ahead of its 2025 targets in terms of free cash flow (FCF) generation and deleveraging.

Preliminary 2022 Results Ahead Of Expectations: BBD released its preliminary 2022 results and they are ahead of expectations. The company expects:

• Deliveries of 123 planes (we estimate 121 and guidance is more than 120);

• Revenue of $6.9B (we forecast $6.7B, consensus is $6.6B and guidance is >$6.5B);

• Adjusted EBITDA of $930MM (we estimate $891MM, consensus is $889MM and guidance is >$825MM);

• Adjusted EBIT of $510MM (we’re at $450MM, consensus is $480MM and guidance is >$375MM);

• FCF of $735MM (our estimate is $710MM, consensus is $670MM and guidance is >$515MM);

• CFO of $1.07B (we forecast $980MM and consensus is $966MM); and,

• Net capex of $335MM (our estimate is $261MM and consensus is $260MM).
Comment by Truthifest on Jan 17, 2023 10:29am
lb1temp, thx again for posting these analyst summaries.  Some of the bests posts here for fundamental investors like me.  Adds a ton of value.  
Comment by clubhouse19 on Jan 17, 2023 10:44am
Temp   Just read the sunject and went looking for CIBC as I thought I got a double whammy thinking CIBC posted prelim results..LOL as I got CIBC also...then finally realized not so.  Thanks for posting this though..
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