Bombardier (BBD-B) Q2 2026 earnings summary

Executive summary

• Revenues for Q2 2026 reached $2.15B, up 6% year-over-year, with record Services revenue of $674M, and 32 aircraft delivered in the quarter.

• Adjusted EBITDA increased 9% to $325M, with a margin of 15.1%, and reported EBIT was $225M, up 10% year-over-year.

• Adjusted net income more than doubled to $257M, and adjusted EPS rose to $2.50; reported net income was stable at $191M.

• Free cash flow improved to $228M, a $392M year-over-year increase, and cash flows from operating activities totaled $338M.

• Order backlog grew 25% to $21.8B as of June 30, 2026, up $4.3B from year-end 2025, with a unit book-to-bill of 1.5x.

Financial highlights

• Services revenue reached a record $674M, up 14% year-over-year.

• Adjusted EBITDA margin expanded by 50 bps to 15.1%; EBIT margin increased by 40 bps to 10.5%.

• Adjusted EPS was $2.50; diluted EPS was $1.84, slightly down from $1.87 year-over-year.

• Net additions to PP&E and intangible assets increased by $74M year-over-year to $110M.

• Cash flows from operating activities were $338M, up from $(128)M in Q2 2025.

Outlook and guidance

• On track to meet raised 2026 guidance across all key metrics, supported by resilient market conditions and sustained demand.

• Management highlighted a strong order backlog and continued demand for products and services.

• Expansion of the Singapore Service Centre expected to nearly double capacity by the second half of 2028.

• Forward-looking statements caution about risks from supply chain, macroeconomic, and geopolitical factors.