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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Bombardier, Inc.    BBD.B   CA0977512007

BOMBARDIER, INC. (BBD.B)
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Bombardier : delivers 17 CSeries in 2017 following engine delays

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01/03/2018 | 09:17pm CEST
The Bombardier logo is seen at the Bombardier factory in Belfast

MONTREAL (Reuters) - Canada's Bombardier Inc (>> Bombardier, Inc.) delivered 17 CSeries jets in 2017, missing its latest target of 20 to 22 planes, but is confident it can achieve its 2018 target of 40 deliveries, a company spokeswoman said on Wednesday, after engine delays hampered its ability to deliver orders last year.

MONTREAL (Reuters) - Canada's Bombardier Inc (>> Bombardier, Inc.) delivered 17 CSeries jets in 2017, missing its latest target of 20 to 22 planes, but is confident it can achieve its 2018 target of 40 deliveries, a company spokeswoman said on Wednesday, after engine delays hampered its ability to deliver orders last year.

More details on Bombardier's 2017 deliveries will be disclosed when the company announces its financial results in February, spokeswoman Nathalie Siphengphet said by phone.

The 110-to-130 seat CSeries jets sell for between $79.5 million and $89.5 million based on list prices.

Investors closely watch figures on aircraft orders and deliveries to help them accurately estimate revenues since airlines make the bulk of payments when planes are delivered.

Bombardier in November cut its CSeries delivery guidance by about a third, from 30 planes to a range of 20 to 22, citing delays from engine supplier Pratt & Whitney, a division of United Technologies Corp (>> United Technologies Corporation).

Pratt & Whitney in October disclosed that it had slowed production of its Geared Turbofan (GTF) to make them more durable after some of its customers had problems with the line of fuel-saving engines used in narrowbody jets.

Bombardier is "confident" in the fixes from Pratt & Whitney and expects to meet its forecast of delivering 40 CSeries planes in 2018, Siphengphet said.

Two aerospace analysts told Reuters they believe Bombardier's goal of 40 deliveries is achievable, provided the supply chain woes are indeed fully fixed.

"So far it looks OK, but again, it's very early," said AltaCorp analyst Chris Murray by phone.

In late December, Bombardier said it finalised a letter of intent signed in November with EgyptAir for 12 CSeries planes, the first completed order received by Bombardier for the single-aisle jets after a 1-1/2-year sales drought.

It's not clear when a second letter of intent signed in November from an undisclosed European customer for 31 CSeries jets will be finalised. The order was initially expected to be completed by the end of 2017.

(Reporting by Allison Lampert in Montreal; Editing by Cynthia Osterman)

Stocks treated in this article : United Technologies Corporation, Bombardier, Inc.
Stocks mentioned in the article
ChangeLast1st jan.
UNITED TECHNOLOGIES CORPORATION -0.62% 123.08 Delayed Quote.-2.92%
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Financials ($)
Sales 2018 17 509 M
EBIT 2018 862 M
Net income 2018 149 M
Debt 2018 6 120 M
Yield 2018 0,40%
P/E ratio 2018 59,16
P/E ratio 2019 20,06
EV / Sales 2018 0,81x
EV / Sales 2019 0,69x
Capitalization 8 096 M
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Bombardier, Inc. Technical Analysis Chart | BBD.B | CA0977512007 | 4-Traders
Technical analysis trends BOMBARDIER, INC.
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 3,52 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Alain M. Bellemare President, Chief Executive Officer & Director
Pierre Beaudoin Executive Chairman
John Di Bert Chief Financial Officer & Senior Vice President
François Caza Chief Engineer & VP-Product Development-Aerospace
Ernest Jeffrey Hutchinson Chief Information Officer
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