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Shares of Bombardier (TSX:BBD.B) stock ended the week slightly higher as the company reported earnings that climbed past estimates. Yet the share price of Bombardier stock is still far lower than its 52-week highs. So, is Bombardier stock a buy on the TSX today?
What happened
Bombardier reported its full-year 2023 results, and investors and analysts were both impressed. The company reported US$8.1 billion in revenue, which was an increase of 16% compared to full-year 2022 levels.
Furthermore, net income climbed to US$490 million, which was a huge increase over the US$157 million loss the year before. Its profit margin climbed from a loss to 6.1%, driven by the higher revenue. Furthermore, its earnings per share hit US$4.81 from a US$1.66 loss back in 2022.
The news exceeded analyst expectations, with revenue surpassing estimates by 2.24%. Earnings per share also climbed past estimates by an incredible…
