Bombardier Q3 just shy of estimates; hikes FCF forecast
Bombardier reported Q3 revenue of $2.37 billion and adjusted EPS of $1.72, slightly below analyst estimates. It raised its 2026 free cash flow forecast to more than $1.3 billion, while reaffirming revenue guidance of $10.0 billion and adjusted EBITDA guidance of $1.625 billion.
1. Quarterly results
Bombardier's Q3 revenue rose 3% year over year to $2.37 billion, versus analyst estimates of $2.38 billion. Adjusted EPS was $1.72, compared with the $1.73 estimate; reported EPS was $0.73 and free cash flow was $183 million.
2. Higher cash flow forecast
The company raised its 2026 free cash flow guidance to more than $1.3 billion, citing strong demand. It reaffirmed 2026 revenue guidance of $10.0 billion and adjusted EBITDA guidance of $1.625 billion, and expects about $300 million in net additions to property, plant and equipment and intangible assets.
3. Services and orders
Q3 services revenue reached a record $701 million, up 19% year over year. Bombardier reported a unit book-to-bill ratio of 1.7 times and a $22.2 billion backlog, up $4.7 billion since year-end 2025. It also cited growing defense-market momentum, including the selection of its GlobalEye platform by NATO and the Canadian government.
