Bombardier Delivers Strong Third Quarter Performance Across Key Metrics
- Revenues grew 3% year-over-year to $2.4 billion, including $701 million for the Services business. Aircraft deliveries totalled 33.
- Backlog as at September 30, 2026, reached $22.2 billion, reflecting a unit book-to-bill of 1.7x for the quarter.
- Available liquidity totalled approximately $2.4 billion; cash and cash equivalents were $1.6 billion as at September 30, 2026.
Bombardier Inc. today announced strong financial results for the third quarter of 2026, delivering higher revenues fueled by an all time high for the Services business, strong profitability stemming from continued execution, and continued strong free cash flow generation. Given the momentum and results, the company is further raising 2026 guidance for free cash flow , while reaffirming all other guidance metrics.
“Bombardier’s robust third quarter results reflect a solid team effort that delivered higher profitability and yet another raising of free cash flow guidance, both of which are strong indicators of our foundational strength and resilience. We are entering the final stretch of 2026 with a healthy backlog, strong demand and solid visibility on all remaining deliveries,” said Éric Martel, President and Chief Executive Officer, Bombardier. “Surpassing $700 million in quarterly Services revenues for the first time reflects a team that is delivering on its mission to consistently and relentlessly place the customer at the heart of everything we do, through our growing service network, which was recently voted No. 1 yet again, as well as throughout our entire company culture.”
Revenue Growth Driven by Record Services Performance
Bombardier reported revenues of $2.4 billion in the third quarter, up 3% year-over-year, supported by 33 aircraft deliveries and record-setting Services revenue of $701 million. Services revenue increased 19% year-over-year, driven by continued network growth and a strong focus on customer experience, reflected in Bombardier’s No. 1 ranking in leading-industry product support surveys for another year. The quarter also underscored growing momentum for Bombardier’s defense market. In addition to solid, in-quarter activity, the company’s longer-term pipeline stands to benefit from key developments for longtime partner Saab, including NATO selecting the GlobalEye solution as well as the Canadian government selecting the same platform for its defense needs.
Sustained demand drove a unit book-to-bill of 1.7x for the quarter. Backlog reached $22.2 billion as at September 30, 2026, increasing by $4.7 billion compared with year-end 2025.
Strong Cash Generation and Solid Profitability
Free cash flow reached $183 million in the third quarter, a 20% increase year-over-year, reflecting strong demand across the business and sustained order momentum. Cash flows from operating activities totaled $259 million, a 36% increase from the prior-year period, while net additions to PP&E and intangible assets amounted to $76 million, demonstrating the company’s ability to generate strong cash flow while continuing to invest in future growth.
Bombardier continued to deliver solid profitability in the third quarter, with growth across key earnings metrics. Adjusted EBITDA increased 7% year-over-year to $382 million, while adjusted EBITDA margin expanded to 16.1%, up 70 basis points compared to 15.4% a year ago. Reported EBIT was $266 million, up 17% from the same quarter in 2025. Reported EBIT margin increased by 140 basis points from the prior-year period, reflecting continued progress in the company’s earnings performance.
The strong earnings performance also translated to the bottom line. Adjusted net income increased 41% to $182 million, while reported net income totaled $81 million, 5% lower from the same quarter last year. Adjusted EPS rose to $1.72 from $1.21 a year ago, while diluted EPS was $0.73, compared with $0.77 in the third quarter of 2025.
Continuing to Build a Stronger Balance Sheet
Bombardier ended the quarter with approximately $2.4 billion of available liquidity, including $1.6 billion of cash and cash equivalents as at September 30, 2026. The strong financial performance since the start of the year, combined with reducing debt by $1.1 billion year-to-date, enabled the company to achieve its target adjusted net debt to adjusted EBITDA ratio of 1.5x at quarter end.
2026 Guidance Update
| 2025 results | 2026 Guidance provided in our Q1-2026 Quarterly Report | 2026 Guidance update | |
| Aircraft deliveries (in units) | 157 | > 157 | > 157 |
| Revenues | $9.55 billion | > $10.0 billion | > $10.0 billion |
| Adjusted EBITDA | $1,559 million | > $1,625 million | > $1,625 million |
| EBIT | $1,108 million | n/a | n/a |
| Free cash flow | $1,072 million | > $1.0 billion | > $1.3 billion |
| Cash flows from operating activities | $1,225 million | n/a | n/a |
| Net additions to PP&E and intangible assets | $153 million | n/a | n/a |
Following a strong performance year-to-date and confidence in the business outlook, Bombardier is raising its 2026 free cash flow guidance for a second time this year. Free cash flow is now expected to be greater than $1.3 billion for the full year. Guidance for all other key financial metrics remains unchanged from the updated guidance issued on April 30, 2026. Net additions to PP&E and intangible assets are expected to be approximately $300 million.
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