MONTREAL — Bombardier Inc. reported a third-quarter profit of US$117 million compared with a loss of US$37 million a year earlier as its revenue rose 12 per cent amid growth in its services business.
The aircraft maker, which keeps its books in U.S. dollars, says its profit amounted to US$1.09 per diluted share for the quarter ended Sept. 30 compared with a loss of 47 cents US per diluted share in the same quarter last year.
Revenue totalled US$2.07 billion, up from US$1.86 billion a year earlier.
Bombardier says the increase in revenue was helped by growth in its services business which saw US$528 million in revenue for the quarter, up from US$414 million in the same quarter last year.
The company also said it benefited from a "healthy delivery mix" as the company delivered 30 aircraft for the quarter compared with 31 a year ago.
Bombardier's order backlog was US$14.7 billion at Sept. 30.
On an adjusted basis, Bombardier says it earned 74 cents US per share in its latest quarter compared with an adjusted profit of 73 cents US per share in the same quarter last year.
Analysts on average had expected the company to earn 73 cents US per share, according to LSEG Data & Analytics.
"As we enter the last months of the year, I am proud that our operations and service network continue to perform at a high level and are well positioned to deliver on full-year guidance," Bombardier chief executive Éric Martel said in a news release.
This report by The Canadian Press was first published Nov. 7, 2024.
Companies in this story: (TSX:BBD.B)
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