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Bombardier Inc. (BDRBF) is a global leader in aerospace innovation and advanced rail transportation solutions. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives shaping the future of mobility.
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Bombardier is set to host a live and virtual event at the European Business Aviation Convention and Exhibition (EBACE) on May 23, 2022. The event, led by Éric Martel, President and CEO, will showcase Bombardier's innovation and leadership in aviation. Scheduled from 11:00 a.m. to 11:45 a.m. CET, the event will take place at Geneva Palexpo, Bombardier Booth Z117.
For those unable to attend, the event will be streamed live on LinkedIn, Facebook, and YouTube, emphasizing Bombardier's commitment to accessibility and engagement.
The Board of Directors of Bombardier has approved a 25-for-1 share consolidation for its Class A and B shares, subject to final approval from the TSX. The consolidation aims to reduce the total number of outstanding shares significantly, decreasing Class A shares from approximately 308 million to 12 million and Class B shares from over 2 billion to about 85 million. Additionally, Bombardier plans to renew its Normal Course Issuer Bid (NCIB), allowing for the purchase of up to 20 million Class B shares to mitigate dilution effects from employee share-based incentives.
Bombardier has successfully elected all 13 nominees from its management proxy circular during its annual shareholders' meeting on May 5, 2022. Key results include:
- Pierre Beaudoin received 97.47% votes in favor.
- Joanne Bissonnette achieved 98.55% support.
- Charles Bombardier earned 98.48% backing.
This decisive vote reflects strong shareholder confidence in Bombardier's leadership and strategic direction, essential for its role as a global aviation leader.
Bombardier reported strong first-quarter results for 2022, achieving revenues of $1.2 billion from 21 aircraft deliveries, supporting its guidance for over 120 deliveries this year. Adjusted EBITDA rose by 36% year-over-year to $167 million, aided by margin expansion and cost reduction. The backlog grew to $13.5 billion, reflecting a robust unit book-to-bill ratio of 2.5. Free cash flow improved significantly, reaching $173 million, driven by strong order intake. The company also made strides in debt reduction, redeeming $400 million in Senior Notes.
Bombardier has won the 2022 Mercuriades award for its innovative Smart Link Plus connected aircraft program, recognized in the Technological Innovation category. This advanced system enhances aircraft health monitoring by interpreting real-time data to alert maintenance crews, significantly reducing downtime. Currently, over 97% of Global 7500 operators use the service. Bombardier aims to expand the program with predictive analytics in collaboration with Scale AI, further enhancing operational efficiency and reducing unscheduled maintenance.
Bombardier will release its Q1 2022 financial results on May 5, 2022, at 8:00 a.m. EDT. A conference call for investors and analysts will follow to discuss the results. Media will have a separate session at 9:30 a.m. EDT. The Annual and Special Meeting of Shareholders will take place the same day at 10:30 a.m. EDT. Shareholders can participate via a live webcast. Bombardier is recognized for its innovative business jets and operates globally with a fleet of approximately 5,000 aircraft.
Bombardier has received a notice from Alstom S.A. requesting arbitration over alleged contractual breaches related to the sale of Bombardier's Transportation business on January 29, 2021. Bombardier believes it has strong grounds to defend itself and will also contest certain purchase price adjustments that reduced the proceeds from the sale. The arbitration process may take several years, and Bombardier will limit its comments on the matter due to confidentiality obligations.
Bombardier has designated its Wichita facility as the new U.S. Headquarters, aiming to capitalize on growth in the MRO and defense sectors. This site will also host Bombardier Defense, reflecting an expansion of its Specialized Aircraft division. Further, Bombardier confirmed additional orders for modified Global 6000 jets worth up to $465 million from the USAF for the BACN program. The Wichita site will focus on recruiting, with over 180 jobs available, and has increased its service center workforce significantly, expanding from three to seven hangars in four years.
On April 19, 2022, Bombardier will celebrate the future of its Wichita site and announce job opportunities. The event, attended by President and CEO Éric Martel and the Executive Leadership Team, will include a site tour for media representatives.
The celebration takes place at 1:30 pm CST at 1 Learjet Way, Wichita, KS. Media can register via an online form and join the event live on LinkedIn and Facebook. Bombardier is a leader in aviation, focusing on business jets with a global fleet of approximately 5,000 aircraft.
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