Bombardier’s financial results for the third quarter of 2022 are marked by strong revenues, a significant improvement in adjusted EBITDA, continued positive free cash flow and a growing backlog.
The results, which reflects strong order activity, show that third-quarter revenues of US$1.5 billion include a 20% year-over-year increase to US$372 million; for the entire year of delivery of more than 120 aircraft. Adjusted EBITDA for the third quarter rose to US$210 million, a 48% year-over-year increase. Adjusted EBITDA margin increased by 460 bps. compared to the same period last year and amounted to 14.4%.
Reported EBIT from continuing operations for the third quarter was US$145 million. The positive free cash flow generation of $52 million from continuing operations for the third quarter of 2022 is in line with the increased cash flow guidance announced in August 2022.
Reported cash flow from operating activities for the quarter was US$122 million, and the net increase in property, plant and equipment and intangible assets for the quarter was US$70 million. The backlog grew by US$300 million to US$15 billion since the end of the second quarter; The third quarter of the book-to-bill block of 1.3 reflects strong order activity.
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