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Bombardier reports US$238M Q4 profit compared with loss a year earlier


February 10, 2022  By The Canadian Press

The Bombardier Challenger 3500 will provide a reduced cabin altitude of 4,850 ft at 41,000 ft, representing a 31 per cent improvement compared to its predecessor. (Image: Bombardier)

MONTREAL — Bombardier Inc. reported a profit in its latest quarter compared with a loss a year earlier.

The maker of business jets, which keeps its books in U.S. dollars, says it earned net income of US$238 million or nine cents per diluted share for the quarter ended Dec. 31 compared with a net loss of US$337 million or 18 cents per diluted share in the last three months of 2020.

Revenue for the company’s fourth quarter totalled US$1.77 billion, down from US$2.34 billion in the fourth quarter of 2020.

On an adjusted basis, Bombardier says it earned three cents per share in its latest quarter compared with an adjusted loss of 20 cents per share a year earlier.

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In its outlook for 2022, Bombardier says it expects revenue to increase compared with 2021 to more than US$6.5 billion.

Adjusted earnings before interest, taxes, depreciation and amortization for this year are expected to be more than US$825 million, a 29 per cent improvement over 2021.

News from © Canadian Press Enterprises Inc., 2021

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