Bombardier has reported strong financial results for the second quarter of 2022, marked by continued steady demand for new aircraft, strong aftermarket performance, robust free cash flow generation and high backlogs. Bombardier raised its full-year guidance on free cash flow, now expected to be better than the previously communicated target and reaffirmed guidance on aircraft deliveries, revenues and profitability metrics.
Bombardier's order backlog rose by 37% year-over-year to US$14.7 billion, with a unit book-to-bill of 1.8 for the second quarter, indicating continued high demand and strong order intake. Revenues of US$1.6 billion for the second quarter reflect 28 aircraft deliveries and a 22% year-over-year aftermarket revenue increase to US$359 million.
This past quarter saw Bombardier continue its margin expansion and reach an adjusted EBITDA of US$201 million, driven by continued progress on strategic priorities, this represents a 41% increase year-over-year.
Following the strong performance in the first half of 2022, Bombardier is revising its original 2022 free cash flow guidance to greater than US$515 million from greater than US$50 million due to stronger working capital performance and increased interest cost savings from accelerated deleveraging. The company reaffirms its original guidance on aircraft deliveries to exceed 120 units, revenues to exceed US$6.5 billion, adjusted EBIT and adjusted EBITDA to greater than US$375 million and greater than US$825 million respectively.
