Canadian Jet Manufacturer Bombardier Turns to Profit in Q1

Washington — Canadian business jet manufacturer Bombardier Inc. Thursday reported a profit of $302 million or $2.98 per share in the first quarter, compared with a loss of $287 million or $3.09 per share in the same quarter a year ago.

Excluding one-time items, earnings were $113 million or $1.06 per share.

The company said its quarterly revenues increased 17% to $1.453 billion from $1.246 billion last year, driven by improved delivery mix and continued strong aftermarket revenues of $424 million.

"With a very healthy, positive adjusted net income, further debt reduction, continued margin expansion, and ramped up production to reach our guidance of more than 138 deliveries this year, we are forging ahead towards the upgraded 2025 targets we presented during our Investor Day last month," said Bombardier's president and chief executive officer Éric Martel.

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