The following is a summary of the Bombardier Inc. (BDRBF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Bombardier reported strong backlog increase and a favorable book-to-bill ratio in Q1 2024.

• EBITDA margins reached 16%, a 140 basis points improvement from Q1 2023.

• Q1 Adjusted EBITDA was $205 million, $7 million lower than the same period last year.

• Aftermarket revenues rose by 13% from last year, contributing $477 million to revenues.

• Bombardier invested $659 million in inventories and reduced its debt by $100 million, ending the quarter with $1.4 billion in liquidity.

Business Progress:

• Bombardier unveiled a rebranding effort signifying its shift towards business aviation.

• Defense and aftermarket services expanded significantly.

• Backlog rose by $700 million to reach $14.9 billion.

• The company aims to deliver between 150 and 155 aircraft in 2024.

• Business jet market remains firm with a 7% increase in flight hours in March 2024 year-on-year.

• The company is witnessing increased market activity in the Middle East, Asia, and America with signs of an emerging uptick in Europe.

• Bombardier plans to transition from the Global 7500 to the Global 8000 aircraft by 2025.

• Parts shortages have been reduced by around 60% last year, with ongoing improvements in Bombardier's recovery plan.

• Bombardier has begun high-level discussions across all organizations to address and prevent recurring issues.

• The company anticipates some regulatory changes regarding flight rule prioritization for private aircraft over commercial ones.

More details: Bombardier IR

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