Bombardier (BBD-B) Q4 2024 earnings summary

Executive summary

• Achieved strong growth in 2024, with revenues rising 8% to $8.7 billion, surpassing guidance, driven by record service revenue and 146 aircraft deliveries.

• Adjusted EBITDA increased 11% to $1.36 billion, with margin expanding to 15.7%; adjusted EBIT rose 15% to $915 million.

• Adjusted net income rose 31% to $547 million; adjusted EPS also up 31% to $5.16.

• Order backlog reached $14.4 billion at year-end, up $200 million year-over-year.

• Developed contingency plans for potential U.S. tariffs, with 2025 guidance withheld due to ongoing uncertainty.

Financial highlights

• Total revenue reached $8.7 billion, up 8% year-over-year and above guidance.

• Adjusted EBITDA was $1.36 billion (+11%), with a 15.7% margin.

• Adjusted EBIT was $915 million (+15%), with a 10.6% margin.

• Adjusted net income was $547 million; adjusted EPS was $5.16.

• Free cash flow for 2024 was $232 million, in line with guidance.

Outlook and guidance

• No formal 2025 guidance provided due to tariff uncertainty, despite strong Q1 activity and robust backlog.

• Management remains confident in ability to meet prior objectives if external risks do not materialize.

• Focus remains on deleveraging, services growth, and defense expansion.