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Whatever Bombardier (TSX:BBD.B) stock is doing, it’s working. Shares of the business jet aircraft maker soared higher by 10% this week after a strong investor day. Not only did earnings not disappoint, but the company also has some ambitious plans for the future.
What happened?
Bombardier stock had a strong start to the year, with earnings coming in strong. Net income came in at US$110 million for the first quarter, with a profit margin of 8.6%. Earnings per share (EPS) hit US$1.04 as well, with revenue at US$1.28 billion. Furthermore, it reported a US$14.9 billion backlog.
Yet the question is not so much how the company has performed year over year but on a quarter-over-quarter basis. This can demonstrate more about the momentum of the company. Looking back, the third quarter saw a backlog of US$14.7 billion, with revenue at US$1.86 billion and net income at a loss of US$37 million.
By the fourth…
