Bombardier raised its 2026 free cash flow forecast to more than $1.3 billion after cash generation increased in the third quarter, even as reported net income declined from a year earlier. The Canadian aircraft maker’s results also showed record Services revenue and a larger backlog. All dollar figures are in U.S. dollars.
Free cash flow was $183 million for the three months ended Sept. 30, up 20% from $152 million a year earlier. Operating cash flow increased 36% to $259 million, while net additions to property, plant and equipment and intangible assets totaled $76 million.
Revenue rose 3% to $2.373 billion from $2.307 billion. Services revenue climbed 19% to a record $701 million, which Bombardier linked to growth in its service network and efforts to improve customer experience. The company delivered 33 aircraft during the quarter.
Bombardier’s backlog reached $22.2 billion at quarter-end, an increase of $4.7 billion from year-end 2025. Its unit book-to-bill ratio was 1.7x, based on net new aircraft orders compared with deliveries. Bombardier President and CEO Éric Martel said the company had solid visibility on its remaining deliveries.
Adjusted EBITDA rose 7% to $382 million, with a margin of 16.1%, compared with 15.4% a year earlier. Adjusted net income increased 41% to $182 million. Reported net income fell to $81 million from $85 million, and diluted earnings per share slipped to 73 cents from 77 cents.
Bombardier classifies adjusted EBITDA, adjusted net income and free cash flow as non-GAAP financial measures, and adjusted earnings per share as a non-GAAP financial ratio. It cautions that other issuers may calculate them differently, limiting comparisons.
Reuters cited charter flying and shared-ownership programs as supports for private-jet demand, and said Bombardier had benefited from larger defense budgets in Canada and Europe. In October, the company said it planned 800 U.S. hires as it expands its service network, a plan detailed in earlier coverage of its hiring expansion.
Bombardier reaffirmed its other 2026 targets: more than 157 aircraft deliveries, revenue above $10 billion and adjusted EBITDA above $1.625 billion. It expects about $300 million in net additions to property, plant and equipment and intangible assets this year. The company’s next scheduled Investor Day is Feb. 18, 2027.
