Bombardier reported solid financial results for the second quarter of 2025, confirming it is on track to meet its full-year targets. The company recorded a notable rise in demand, particularly from Bombardier Defense, and secured a landmark deal through a firm order for 50 aircraft with 70 options from a new customer.
Services revenues grew by 16% year-on-year to US$590 million, supported by an expanding global service network. Recruitment of technicians is ongoing, and facility developments remain on schedule, including a new maintenance site in Abu Dhabi and a large paint facility at London Biggin Hill Service Centre.
Aircraft deliveries for the quarter reached 36 Challenger and Global jets, skewed towards Challenger models, bringing first-half deliveries to 59 aircraft, consistent with 2024 levels. Total second-quarter revenues were US$2.0 billion, with adjusted EBITDA at US$297 million and EBIT at US$205 million. Net income stood at US$193 million, while adjusted net income was US$117 million, compared with US$111 million in the same period last year. Diluted EPS rose sharply to US$1.87 from US$0.12, and adjusted EPS reached US$1.11.
Free cash flow usage was US$164 million, mainly due to inventory build-up for higher planned deliveries in the second half. Operating cash flow usage totalled US$128 million, with net additions to property, plant, and equipment and intangible assets at US$36 million.
The order backlog reached a record US$16.1 billion as of June 30, 2025, up US$1.9 billion from the previous quarter. This included the largest single-quarter business jet order volume in more than ten years, supported by a maintenance services partnership with a new customer. Demand across business jet and defence markets pushed the book-to-bill ratio to 2.3.
Liquidity remained strong at US$1.2 billion, with US$811 million in cash and equivalents. Debt management continues as a priority, highlighted by refinancing US$500 million of Senior Notes to extend maturity to 2033. This prudent approach supported a credit upgrade to BB- from S&P Global Ratings, with Moody’s revising its outlook to positive.
