Welcome to our dedicated page for Bombardier B news (Ticker: BDRBF), a resource for investors and traders seeking the latest updates and insights on Bombardier B stock.
Bombardier Inc. reports developments tied to its business-jet portfolio, aircraft services, financial performance, capital structure and shareholder governance. Company news commonly covers the Global and Challenger families, including the Global 8000, Global 6500 and Challenger 3500, as well as aircraft displays, customer outreach and product-positioning updates in key business aviation markets.
Bombardier also issues updates on operating results, backlog, services activity, free cash flow guidance, debt redemptions, senior note financing and annual shareholder voting matters. Its disclosures describe a manufacturer and service provider that designs, builds, modifies and maintains aircraft for private, corporate, government and military customers, with production and completion facilities in North America and a global service network.
Bombardier has awarded Diamond certification to 18 suppliers for their operational excellence in 2021, marking the fourth consecutive year of this recognition. The ceremony in Montréal highlighted the suppliers' dedication to continuous improvement amidst global challenges. The recipients were recognized in three categories: Production, Indirect Goods and Services, and Aftermarket. Notably, eight winners are based in Quebec, emphasizing Bombardier's commitment to supporting the local aerospace sector.
This program aims to foster strong partnerships and maintain high-performance standards.
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Bombardier delivered its first modified Global 6000 aircraft under a contract with the U.S. Air Force (USAF) for a potential total value of $464.8 million. This aircraft supports the BACN program, enhancing communication interoperability in military operations. The 2021 contract includes firm orders for three Global 6000 jets, with future orders possible through 2025. The delivery marks a significant milestone for Bombardier's defense division, highlighting its commitment to specialized aviation solutions.
Bombardier reported robust financial results for Q2 2022, with revenues reaching $1.6 billion, driven by 28 aircraft deliveries and a 22% year-over-year increase in aftermarket revenue to $359 million. Adjusted EBITDA rose 41% year-over-year to $201 million, reflecting strong operational performance. The company raised its full-year free cash flow guidance to over $515 million from more than $50 million. Bombardier's order backlog increased by 37% to $14.7 billion, and it reduced debt by $373 million in Q2, boosting liquidity to approximately $1.8 billion.
Bombardier is set to release its Q2 2022 financial results on August 4, 2022. A conference call will follow at 8:00 a.m. EDT, allowing investors and analysts to discuss the results. Stakeholders can join via dial-in numbers or through a live webcast available on the company's investor relations page. A media Q&A session will occur at 10:00 a.m. EDT the same day, featuring CEO Éric Martel. Bombardier continues to be a leader in aviation, with a focus on business jets and a global customer support network.
Bombardier announced that its Series 3 Preferred Shares will offer an annual dividend rate of 4.588% for the next five years starting August 1, 2022. The dividend is based on a fixed rate derived from a Government of Canada bond yield. Shareholders wishing to convert their Series 2 or Series 3 Preferred Shares must submit their requests by 5:00 p.m. on July 18, 2022. The announcement reinforces Bombardier's commitment to shareholder returns amid continued operations in the business jet sector.
Bombardier has opened its newly transformed Singapore Service Centre, now the largest OEM business aviation maintenance facility in Asia Pacific, expanding its footprint from 70,000 sq. ft. to approximately 290,000 sq. ft. The facility offers enhanced capabilities, including a full-service, environmentally-controlled paint facility and 24/7 parts depot with over $15 million in parts inventory. Emphasizing sustainability, it has solar panels, EV charging, and Sustainable Aviation Fuel availability. The centre is set to support over 2,000 business jet visits annually, enhancing customer service and operational efficiency.
Bombardier announced updates regarding its cash tender offer for up to US$350 million in senior notes, initially disclosed on June 13, 2022. As of the Early Tender Date, US$77.66 million of 7.875% Senior Notes due 2027, US$290.04 million of 7.500% Senior Notes due 2024, and US$481.12 million of 7.50% Senior Notes due 2025 were tendered. Due to oversubscription, only a portion of the 2025 notes will be accepted. By executing this tender offer, Bombardier anticipates repaying over $750 million in debt, which is projected to save nearly $60 million annually in interest costs.
Bombardier has announced the renewal of its normal course issuer bid (NCIB), starting June 28, 2022, allowing the purchase of up to 880,000 Class B shares over one year, representing approximately 1.03% of its total Class B shares. This follows a 25-for-1 share consolidation effective June 13, 2022. Of the shares purchased, about 150,000 are expected to be canceled, while 730,000 will be placed in trust for employee incentive plans. The NCIB aims to mitigate dilution from stock options and support capital management.
On June 22, 2022, Bombardier announced that IAMAW Local 712 members in Dorval and Saint-Laurent, Québec, ratified a new 5-year collective bargaining agreement. The company expressed satisfaction with the vote, emphasizing its commitment to collaborate with IAMAW Local 712 union leadership and its employees. The agreement highlights mutual engagement towards a successful future for both Bombardier and its workforce, reinforcing that the company's success relies on high-quality products and engaged employees. Bombardier remains a leader in aviation, known for its innovative aircraft.