Bombardier Q3 Results Show Mild Decline
Bombardier released its third quarter 2013 financial results this morning with most of its numbers showing a slight decline in comparison with the same period last year. Revenues for the corporation as a whole totaled $4.1 billion at the end of the quarter on September 30, compared to $4.2 billion for the same fiscal quarter last year. Bombardier Aerospace accounted for $2 billion in the quarter, compared to $2.3 billion last year.
The Canadian OEM recorded 36 deliveries and 23 net orders in the third quarter this year against 43 deliveries and 45 net orders for that period in 2012. For the first three quarters of 2013, there were 119 deliveries and 97 net orders compared with 117 deliveries and 219 net orders in the same period last year.
Further, the company’s backlog of business jets in the third quarter fell from 357 to 346 aircraft, with the Global series accounting for eight of the 11-aircraft difference. The aerospace segment, including commercial and business aircraft, had a backlog of $32.9 billion on September 30, the same level it had on Dec. 12, 2012.
Bombardier, however, expects a spike in the backlog numbers in this year’s fourth quarter, if a deal with Flexjet closes and the order for 85 Learjets is finalized by the end of 2013.
The company also reported that there are no plans at this point for layoffs based on Learjet production. Bombardier described its Challenger 605 as “the workhorse aircraft for companies around the world” and said there are currently no plans for upgrades.
Separately, Brazilian OEM Embraer officially announced its third quarter results, which AINalerts reported on October 15.