Bombardier (TSX: BBD.B) shared today its preliminary financial results for Q1 2021. The company expects to earn $1.3 billion in business jet revenues, an 18% increase from Q1 2020.
The company also expects total business aircraft deliveries for the quarter to be 26 units and remains on track to deliver an expected 110-120 business aircrafts in 2021.
EBIT from continuing operations for the quarter is expected to be $19 million, while free cash flow from continuing operations is expected to be $405 million, of which $372 million is from operating activities. Liquidity meanwhile is expected to be $2.6 billion following an expected approximate $2.4 billion deleveraging year-to-date toward the balance sheet.
Bombardier President and CEO Eric Martel relayed that the preliminary financial results validate the actions Bombardier has taken to reposition the business. “The first quarter was a strong start to the year, with our cost reduction initiatives beginning to contribute to the bottom line, the continued progress of our Global 7500 learning curve, and robust demand supporting significant year-over-year margin expansion,” said Martel.
The company is expected to release its final Q1 2021 financial results on May 6, 2021.
Bombardier last traded at $9.49 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.