Bombardier Exceeds All 2025 Guidance Metrics, Successfully Completes its Turnaround Plan, and Sets 2026 Guidance for Strong Year Ahead

Executive Summary

• Bombardier reported FY 2025 revenue of $9.55 bn (+10% YoY) and adjusted EBITDA of $1.559 bn (+15% YoY), beating its own guidance.
• Adjusted net income rose 47% to $805 m; diluted EPS jumped 164% to $9.41, while adjusted EPS reached $7.72.
• The company announced FY 2026 outlook: revenue >$10.0 bn, aircraft deliveries >157 units, adjusted EBITDA >$1.625 bn and free cash flow between $600 m‑$1.0 bn; debt reduction continued with $400 m+ repayments and redemption of $500 m senior notes in Feb 2026.

Key Details

• Revenue: $9.55 bn (10% YoY increase); Services revenue $2.3 bn (+13%).
• Aircraft Deliveries 2025: 157 units (+11 vs. 2024).
• Backlog: $17.5 bn as of 31‑Dec‑2025 (up $3.1 bn, +22% YoY).
• Adjusted EBITDA: $1,559 m; margin 16.3% (up 60 bps).
• Adjusted EBIT: $1,095 m; margin 11.5% (up 90 bps).
• Reported EBIT: $1,108 m; margin 11.6% (up 150 bps).
• Adjusted Net Income: $805 m (+47% YoY).
• Diluted EPS (continuing): $9.41 (up 164%).
• Free Cash Flow: $1,072 m (+$840 m YoY).
• Operating Cash Flow: $1,225 m (vs. $405 m in 2024).
• Capital Expenditures: Net additions to PP&E & intangibles $153 m (down $20 m YoY).
• Debt Repayment: >$400 m repaid in FY 2025; additional $500 m senior notes redemption scheduled 15‑Feb‑2026.
• Liquidity: Cash & equivalents $2.175 bn; available liquidity $2.540 bn.
• Leverage Improvement: Adjusted net debt/adjusted EBITDA fell to 1.9× (down from 2.9×).

FY 2026 Guidance Highlights

Notable Quotes

“Bombardier’s 2025 results validate the unwavering dedication of our team… We have transformed the business, reinforced our competitive position, and established a clear and disciplined track record for growth – and the future looks bright.” – Éric Martel, President & CEO

All amounts are in U.S. dollars unless noted otherwise.