Bombardier has officially released financial information on its performance during the second quarter of 2018, showing stability on the market and improvements in earnings and cash. The company has managed to remain strong and continue its progress.
Alain Bellemare, the President and Chief Executive Officer at Bombardier, shared that after the company has successfully completed its heavy investment phase, and it is now time to optimize operations and increase efficiency.
So far into the year, Bombardier has achieved its 2018 targets and is confident about its 2020 targets. The company’s revenue reached $4.3 billion, showing a 3 percent rise in comparison to 2017’s second quarter. The cash flow usage was estimated at $370 million, while reported free cash flow was $232 million.
Earnings Before Interest and Tax increased by 18 percent, reaching $271 million. During the time period, Bombardier received a total of 35 CRJ Series aircraft orders and made deliveries for 18 commercial airplanes. The manufacturer also completed its Airbus agreement for the CSeries prior to initial plans.
The outlook for the remainder of the year is strong and Bombardier is confident that it will be achieving its 2020 objectives.