{"id":1989456,"date":"2023-08-03T07:54:02","date_gmt":"2023-08-03T11:54:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bombardier-reports-quarterly-profit-on-demand-for-business-jets\/"},"modified":"2023-08-03T07:56:13","modified_gmt":"2023-08-03T11:56:13","slug":"bombardier-reports-quarterly-profit-on-demand-for-business-jets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bombardier-reports-quarterly-profit-on-demand-for-business-jets\/","title":{"rendered":"Bombardier&#8217;s Q1 profit soars due to high demand for business jets."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbombardier-reports-quarterly-profit-on-demand-for-business-jets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1989456&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><h2>Canada&#8217;s \u200dBombardier\u200d Inc Reports Profit \u2062and Higher\u200d Revenue<\/h2>\n<\/p>\n<p>MONTREAL (Reuters) \u2013\u200d Canada&#8217;s Bombardier Inc has announced its \u200dsecond-quarter results,\u200c revealing a profit of $10 million from\u2063 continuing\u2062 operations, compared to a loss \u200cof $109 million in the \u2064same period last year. The Montreal-headquartered business jet\u200d maker experienced increased revenue and demand for pricier\u2062 business jets, \u2063despite\u2063 facing \u200bsupply chain pressures.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Corporate jet makers\u200b have been \u200dbenefiting from strong demand for private flying among the wealthy in recent\u200c quarters. However, they are\u2063 currently \u2062facing \u2062supply chain \u2064challenges \u2063that make it more difficult to deliver \u2062planes.<\/p>\n<p>Last month, Gulfstream jet maker \u200cTextron Inc raised its\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cvs-health-cuts-annual-profit-forecast-on-acquisition-costs\/\" title=\"CVS Health lowers profit forecast due to acquisition expenses.\">full-year profit forecast due<\/a> to strong jet pricing.<\/p>\n<p>While \u2064demand for business jets has been\u2062 robust, \u2064there \u200care early signs that it\u200d may be flattening. Bombardier reported that its backlog\u200b at the end of June increased\u2062 by just \u200d0.7% to $14.9 \u2063billion compared to the end of March.<\/p>\n<p>Quarterly revenue rose by 8% to $1.68 billion, driven by the delivery\u2063 of \u206329 jets. Adjusted profit per share was 72\u200b cents, a significant improvement from \u200ca loss of 48 cents \u200bper share\u2063 in\u200d the previous year.<\/p>\n<p>Analysts polled by Refinitiv\u2064 had expected a profit of 28 cents per share \u200band revenue of \u2064$1.68 billion. It is unclear if the figures are directly comparable.<\/p>\n<p>Bombardier reported a cash burn of \u200b$222 million, in contrast to a free\u200d cash flow \u200dof $341 million in the previous year. This was primarily due\u2064 to \u200bcapital expenditures and a buildup \u200din working capital\u200d to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bombardier-reports-quarterly-profit-on-demand-for-business-jets\/\" title=\"Bombardier's Q1 profit soars due to high demand for business jets.\">support higher jet deliveries<\/a> in the second half of 2023.<\/p>\n<\/p>\n<p>  (Reporting By Allison Lampert\u2064 in\u200c Montreal and Abhijith Ganapavaram in Bengaluru; \u2064Editing\u2062 by Saumyadeb\u200c Chakrabarty)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bombardier-reports-quarterly-profit\/attachment\/file-photo-bombardier-celebrates-10th-delivery-of-global-7500-business\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h3>Other News:<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The latest Trump Indictment may be built on Mike Pence, while\u200c Marco Rubio points out the\u200c DOJ&#8217;s\u2063 double standard.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>President Joe Biden&#8217;s Department of Justice indicts Former President Donald J. Trump for a third time with \u2063many\u2064 questioning the timing of it all<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A longtime democrat\u200b lawmaker from New\u200b York who spent 36 years in the assembly said he&#8217;s\u2062 leaving the part for the Republican party.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>In the \u2063second part of an exclusive interview, Oversight Committee member Representative \u2063Andy Biggs tells One America News after witnessing \u2064Devon\u2064 Archer&#8217;s\u200b closed-door testimony, he is convinced Joe Biden was &#8220;taking a cut&#8221; of hunter&#8217;s business deals.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Apple&#8217;s\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-presidential-candidate-vivek-ramaswamy-sues-doj-over-trump-indictment\/\" title=\"Vivek Ramaswamy, GOP candidate, sues DOJ for Trump indictment.\">high-yield savings account offered<\/a> by its \u200bpartner Goldman\u200c Sachs has reached over $10 billion \u2062in customer deposits, the technology\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Apple&#8217;s high-yield savings account offered by its partner Goldman\u200c Sachs has reached\u2063 over \u2064$10 billion in customer deposits, \u200cthe \u200btechnology\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 \u2064Cognizant\u2064 Technology Solutions \u200dforecast third-quarter revenue above estimates \u200don Wednesday as more businesses turn\u2064 to the IT services provider to\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Cognizant Technology\u200d Solutions forecast\u200b third-quarter revenue above estimates on Wednesday as more \u200cbusinesses \u200bturn to the IT services provider to\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bombardier Inc, based in Montreal, Canada, announced improved quarterly revenue and a profit of $10 million from continuing operations, in contrast to a loss of $109 million last year. The company&#8217;s success can be attributed to the strong demand for expensive business jets, despite facing challenges in the supply chain.<\/p>\n","protected":false},"author":66,"featured_media":1989457,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1989456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1989456"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1989457"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1989456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1989456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1989456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}