Canadian aircraft manufacturer Bombardier has deferred its 2025 guidance due to a number of executive orders signed by President Trump regarding tariffs on Canada.
The Trump administration passed three executive orders on February 1, 2025, directing the US to impose new tariffs on imports originating from Canada, Mexico and China. One of these orders calls for an additional 25% duty on imports into the US of Canadian origin.
Bombardier stated that this is a “rapidly evolving schedule” of tariff implementation, with the company stating it has had the opportunity to “further assess" the direct and indirect impacts to its business of such tariffs, retaliatory tariffs or other trade protectionist measures implemented as this situation develops.
Separately from the company’s 2025 outlook, Bombardier delivered strong results during 2024, with revenues of $8.7bn. This figure exceeded original guidance, driven by record service performance exceeding $2bn and 146 aircraft deliveries. The manufacturer delivered 138 aircraft during 2023.
Bombardier stated it continued to maintain a “disciplined approach” to its production during the year. As of December 31, 2024, the manufacturers backlog increased compared to the year prior, reaching $14.4bn, reflecting strong demand.
“Four years ago, we outlined a bold vision for how we wanted to structure Bombardier for success," said Éric Martel, president and chief executive officer, Bombardier. "Our company has accomplished more than we set out to, including reaching our $2bn service revenue ambition a full year ahead of schedule by rapidly elevating our customer experience and offerings."
Net income totalled $370 million, with adjusted net income reaching $547 million. Diluted earnings per share (EPS) was $3.40, while adjusted EPS increased by 31% compared to 2023, rising from $3.94 to $5.16.
“Whether in our operations, in the field or on our balance sheet, we have time and again demonstrated that we are strong and resilient,” Martel added.
Adjusted EBITDA for the year was up by 11% in comparison to 2023, totalling $1.36bn. Additionally adjusted EBITDA margin reached 15.7%.
Free cash flow generation totalled $232 million, with cash flows from operating activities reaching $405 million. Net additions to property, plant, and equipment (PP&E) and intangible assets amounted to $173 million.