Bombardier increased sales in 2022
2023.01.17 08:46
Budrigannews.com – Bombardier of Canada (OTC:) Due to strong demand for private jet travel, Inc raised its 2022 revenue and free cash flow forecast on Tuesday.
The plane manufacturer with headquarters in Montreal now anticipates revenue of approximately $6.9 billion for the entire year, up from its previous estimate of approximately $6.5 billion. Data from Refinitiv indicate that, on average, analysts anticipate the business to generate $6.56 billion in annual revenue.
Due to the persistently strong demand for flying private, manufacturers of corporate jets have reported increasing order backlogs, particularly in the United States, which is the largest market for business aviation worldwide.
However, supply chain and labor disruptions, soaring inflation, and broader concerns about a weakening global economy exert pressure on planemakers.
Bombardier is working hard to reduce its debt, which decreased by $100 million in the third quarter after the company ran out of cash in 2015.
The company, which operates approximately 5,000 aircraft worldwide, stated that it anticipates $735 million in full-year free cash flow, up from $515 million in the previous estimate.
On February 9, Bombardier will release its results for the fourth quarter and the entire year 2022.
