Bombardier announced on Thursday that it has seen strong aftermarket performance, robust free cash flow generation and a growing backlog in the first quarter (Q1) of 2022. According to the company, its Q1 revenues from business jet sales and aftermarket services totaled $1.2 billion with aftermarket revenues increasing 34 percent over the same time period last year. Bombardier’s pretax earnings rose 36 percent compared to Q1 2021 to $167 million.
“We took off quickly this year, bolstered by the positive performance from last year and sustained favourable market conditions,” said Bombardier President and CEO Éric Martel. “Thanks to continued strong deliveries and order intake, as well as great performance of our aftermarket services, we continue to accelerate our momentum on the path towards our long-term objectives.”
Bombardier reported free cash flow generation of $173 million, a $578 million improvement on Q1 2021’s negative $405 million. The company delivered 21 aircraft in the quarter, stating that it is currently on track to deliver more than 120 this year. Bombardier’s backlog has risen by $1.3 billion since the beginning of 2022.