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Bombardier Inc. (BOMBF)

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Previous Close8.34
Open8.34
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Day's Range8.34 - 8.34
52 Week Range4.16 - 8.79
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Avg. Volume349
Market Cap4.04B
Beta (5Y Monthly)2.98
PE Ratio (TTM)4.56
EPS (TTM)1.83
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  • Bombardier Announces Further Deleveraging Actions with Full Repayment of its 6⅛% Senior Notes Due 2021
    GlobeNewswire

    Bombardier Announces Further Deleveraging Actions with Full Repayment of its 6⅛% Senior Notes Due 2021

    MONTRÉAL, May 17, 2021 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) today announced that, as part of its plan to enhance profitability and deleverage its balance sheet, it has completed the repayment in full and complete discharge of its 6⅛% Senior Notes due May 15, 2021 utilizing its available liquidities. The payout was in the amount of EUR 426,663,291 covering the outstanding principal amount as well as accrued interest. During its March 4, 2021 Investor Day, Bombardier outlined its five-year plan based on four strategic priorities: maturing the flagship Global 7500 aircraft program, increasing productivity and profitability, growth of the aftermarket business and reshaping and strengthening its balance sheet. “We have taken decisive action to deliver on our commitment of de-leveraging Bombardier’s balance sheet on our path to becoming a more profitable company,” said Éric Martel, President and CEO, Bombardier. “In March, we presented a holistic plan to re-shape Bombardier and, in the short period of time since, we have made significant progress. Backed by solid first quarter results, executing our strategy predictably is our key focus and is designed to position Bombardier to realize its full potential, enhance value for customers and shareholders, all while maintaining a keen focus on employee engagement and sustainability efforts within our operations, product families and the community.” About Bombardier Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. News and information is available at bombardier.com or follow us on Twitter @Bombardier. Bombardier, Global and Global 7500 are trademarks of Bombardier Inc. or its subsidiaries. For information Francis Richer de La FlècheVice President, Financial Planning and Investor RelationsBombardier+514 855 5001 x13228Mark MasluchSenior Director, Communications Bombardier +514 855 7167 FORWARD-LOOKING STATEMENTS This press release includes forward-looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, financial performance, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; customer value; expected demand for products and services; growth strategy; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry-into-service of products and services, orders, deliveries, testing, lead times, certifications and execution of orders in general; competitive position; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements, and ongoing review of strategic and financial alternatives; the introduction of, productivity enhancements, operational efficiencies, cost reduction and restructuring initiatives, and anticipated costs, intended benefits and timing thereof; the anticipated business transition to growth cycle and cash generation; expectations, objectives and strategies regarding debt repayment, refinancing of maturities and interest cost reduction; expectations regarding availability of government assistance programs, compliance with restrictive debt covenants; expectations regarding the declaration and payment of dividends on our preferred shares; intentions and objectives for our programs, assets and operations; and the impact of the COVID-19 pandemic on the foregoing and the effectiveness of plans and measures we have implemented in response thereto; and expectations regarding gradual market and economic recovery in the aftermath of the COVID-19 pandemic. As it relates to the sale of the Transportation business to Alstom, this press release also contains forward-looking statements with respect to the benefits of such transaction, the use of the proceeds derived from the transaction and its impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition, business plan and overall strategy. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “shall”, “can”, “expect”, “estimate”, “intend”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “maintain” or “align”, the negative of these terms, variations of them or similar terminology. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. By their nature, forward-looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward-looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward-looking statements made in this press release include the following material assumptions: the deployment of the proceeds from the sale of the Transportation business to Alstom on terms allowing the Corporation, when combined to other financing sources and free cash flow generation, to repay or otherwise manage its various maturities for the next three years; growth of the business aviation market and increase of the Corporation’s share of such market; proper identification of recurring cost savings and executing on our cost reduction plan; optimization of our real estate portfolio, including through the sale or other transaction in respect of real estate assets on favorable terms; and access to working capital facilities on market terms. For additional information, including with respect to other assumptions underlying the forward-looking statements made in this press release, refer to the Forward-looking statements — Assumptions section in the Management’s Discussion & Analysis of our financial report for the fiscal year ended December 31, 2020 (the “MD&A”) which may be viewed on SEDAR at www.sedar.com. Given the impact of the changing circumstances surrounding the COVID-19 pandemic and the related response from the Corporation, governments (federal, provincial and municipal), regulatory authorities, businesses, suppliers, customers, counterparties and third-party service providers, there is inherently more uncertainty associated with the Corporation’s assumptions as compared to prior years. Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with the financial condition of business aircraft customers; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business ; order backlog; the transition to a pure-play business aviation company; the certification of products and services; the execution of orders; pressures on cash flows and capital expenditures based on seasonality and cyclicality; execution of our strategy, productivity enhancements, operational efficiencies, restructuring and cost reduction initiatives; doing business with partners; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial debt and interest payment requirements; restrictive debt covenants; reliance on debt management and interest cost reduction strategies; and reliance on government support), market risks (such as foreign currency fluctuations; changing interest rates; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A which may be viewed on SEDAR at www.sedar.com. Any one or more of the foregoing factors may be exacerbated by the ongoing COVID-19 outbreak and may have a significantly more severe impact on the Corporation’s business, results of operations and financial condition than in the absence of such outbreak. As a result of the current COVID-19 pandemic, additional factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: risks related to the impact and effects of the COVID-19 pandemic on economic conditions and financial markets and the resulting impact on our business, operations, capital resources, liquidity, financial condition, margins, prospects and results; uncertainty regarding the magnitude and length of economic disruption as a result of the COVID-19 outbreak and the resulting effects on the demand environment for our products and services; uncertainty regarding market and economic recovery in the aftermath of the COVID-19 pandemic; emergency measures and restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions; disruptions to global supply chain, customers, workforce, counterparties and third-party service providers; further disruptions to operations, orders and deliveries; technology, privacy, cyber security and reputational risks; and other unforeseen adverse events. Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward-looking statements. Other risks and uncertainties not presently known to us or that we presently believe are not material could also cause actual results or events to differ materially from those expressed or implied in our forward-looking statements. The forward-looking statements set forth herein reflect management’s expectations as at the date of this press release and are subject to change after such date. Unless otherwise required by applicable securities laws, we expressly disclaim any intention, and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

  • Bombardier’s U.S. Service Centres Each Capture 2020 FAA Diamond Award of Excellence, Building on Strong Reputation for Outstanding Service
    GlobeNewswire

    Bombardier’s U.S. Service Centres Each Capture 2020 FAA Diamond Award of Excellence, Building on Strong Reputation for Outstanding Service

    Federal Aviation Administration’s (FAA) Aviation Maintenance Technician (AMT) Diamond Award of Excellence is the industry’s highest honour for aviation maintenanceBombardier’s U.S.-based service technicians performed close to two million maintenance hours in 2020, including 200 major maintenance inspectionsBombardier facilities remained open throughout the pandemic, servicing aircraft and assisting customers in times of need MONTRÉAL, May 17, 2021 (GLOBE NEWSWIRE) -- Bombardier announced today that its five U.S.-based service centres have each received the 2020 Aviation Maintenance Technician (AMT) Diamond Award of Excellence, the industry’s highest recognition award for aircraft maintenance. Sponsored by the U.S. Federal Aviation Administration (FAA), collectively these awards reflect Bombardier’s commitment to supporting its customers as it delivers a world-class customer experience through its highly skilled maintenance technicians, dedicated support staff and pursuit of service excellence through continuous learning and training opportunities for its various service teams. “The AMT Diamond Award of Excellence is the industry’s highest honour for aviation maintenance and it shines a light on the outstanding expertise displayed by all of our teams within our service network,” said Jean-Christophe Gallagher, Executive Vice President, Services and Support, and Corporate Strategy, Bombardier. “These awards reflect the flexibility and creativity of our teams to provide the highest maintenance standards possible.” The AMT Diamond Award of Excellence is presented to organizations that provide 100 per cent of their eligible technicians with regulatory, airworthiness and safety awareness training programs within a given year. Bombardier’s U.S.-based facilities have consistently received recognition with FAA Diamond Awards for several years, highlighting the exemplary levels of service displayed by the teams. In 2020 alone, U.S.-based technicians performed close to two million hours on 6,600 work orders servicing some 1,700 aircraft. Key maintenance procedures included more than 20 Global aircraft 120-month inspections, 25 Automatic Dependent Surveillance-Broadcast (ADS-B Out) procedures, 12 Future Air Navigation (FANS) installs, nine Collins Pro Line 21 and Pro Line 21 Advanced installations. With recent announcements underscoring service centre growth and expansion in Melbourne, Australia, Biggin Hill, U.K, Miami-Dade County, U.S.A., and Berlin, Germany, the introduction of several exciting new products and services and the latest developments in the Smart Link Plus program, Bombardier continues to build on its commitment to provide customers with the industry’s best service experience. About BombardierBombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. News and information is available at bombardier.com or follow us on Twitter @Bombardier. Notes to EditorsVisit the Bombardier Business Aircraft website for more information on our industry-leading products and services. Bombardier and Global are registered trademarks of Bombardier Inc. or its subsidiaries. For InformationMatthew NichollsBombardier+ 1 514-243-8214matthew.nicholls@aero.bombardier.com

  • Bombardier Provides Update on Consent Solicitations
    GlobeNewswire

    Bombardier Provides Update on Consent Solicitations

    MONTRÉAL, May 14, 2021 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) (the “Corporation”) today announced that it has received the requisite consent from holders of its outstanding 7.875% Senior Notes due 2027 (the “2027 Notes”) as they relate to the Corporation’s previously announced Consent Solicitation Statement dated May 3, 2021 (as amended by the press release dated May 12, 2021, and as from time to time, further amended or supplemented, the “Consent Solicitation Statement”) with respect to its outstanding senior notes and debentures (such solicitation with respect to any individual series, a “Consent Solicitation” and collectively, the “Consent Solicitations”). With the receipt of the requisite consents from holders of the 2027 Notes, the requisite consents have been received for the following series of the Corporation’s outstanding senior notes (the “Consented Notes”) and the corresponding Supplemental Indentures have been entered into and are effective and operative, such that previously delivered Consents may no longer be revoked: TITLE OF SECURITYCUSIP / ISIN (144A) CUSIP / ISIN (Reg S) 6.000% Senior Notes due 2022 097751BJ9 / US097751BJ96C10602AY3 / USC10602AY366.125% Senior Notes due 2023 097751BF7 / US097751BF74C10602AW7 / USC10602AW797.500% Senior Notes due 2024 097751BR1 / US097751BR13C10602BF3 / USC10602BF387.500% Senior Notes due 2025 097751BM2 / US097751BM26C10602BA4 / USC10602BA417.875% Senior Notes due 2027 097751BT7 / US097751BT78C10602BG1 / USC10602BG11 The Consent Solicitations with respect to the Consented Notes and with respect to the 5.750% Senior Notes due 2022 expired at 5:00 p.m., New York City time, on May 13, 2021. Holders of Consented Notes whose consents were properly made and not revoked on or prior to 5:00 p.m., New York City time, on May 13, 2021 will be entitled to receive the Consent Payment (as defined in the Consent Solicitation Statement). The Corporation intends to make the Consent Payment with respect to the Consented Notes on Monday May 17, 2021. The expiration date for the Consent Solicitation with respect to the 7.450% Senior Notes due 2034 is extended to 5:00 p.m., New York City time, on May 18, 2021. Holders of the Corporation’s 7.450% Senior Notes due 2034 and 7.35% Debentures due 2026 who have not already consented still have the opportunity to participate until the Expiration Date with respect to each such series at 5:00 p.m., New York City time, on May 18, 2021. The terms and conditions of the Consent Solicitations remain the same as set forth and described in the Consent Solicitation Statement. The Corporation reserves the absolute right, subject to applicable laws, to amend, waive or modify the terms of the Consent Solicitations in any manner. For a complete statement of the terms and conditions of the Consent Solicitations, holders are encouraged to read the Corporation’s Consent Solicitation Statement. Holders who have previously delivered consents in connection with the Consent Solicitations do not need to redeliver such consents or take any other action in response to this announcement in order to consent to the Consent Solicitations. The Corporation has retained Global Bondholder Services Corporation to act as the US Information and Tabulation Agent for the Consent Solicitations, and has retained Kingsdale Partners LP to act as the Canadian Information and Tabulation Agent for the Consent Solicitation for the 7.35% Debentures due 2026 (the “C$ Notes”). For additional information regarding the terms of the Consent Solicitations, or to obtain additional copies of the Consent Solicitation Statement, please contact Global Bondholder Services Corporation at (866) 807 2200 or by email at contact@gbsc-usa.com, or, in respect of the C$ Notes, Kingsdale Partners LP at 1-888-518-6824 or by email at corpaction@kingsdaleadvisors.com. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Consent Solicitations. Citigroup Global Markets Inc. and UBS Securities LLC will act as the Solicitation Agents for the Consent Solicitation. Questions concerning the terms of the Consent Solicitation should be directed to Citigroup Global Markets Inc. at (212) 723-6106 (collect) or (800) 558-3745 (toll-free) or UBS Securities LLC at (203) 719-4210 (collect) or (888) 719-4210 (toll-free). Holders are advised to check with any bank, securities broker or other intermediary through which they hold any of the notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Consent Solicitations, before the deadlines specified herein and in the Consent Solicitation Statement. The deadlines set by each clearing system for the submission and withdrawal of instructions will also be earlier than the relevant deadlines specified herein and in the Consent Solicitation Statement. You should check with such broker, dealer, commercial bank, trust company or other nominee to determine whether they will charge you a fee for delivering your consent on your behalf. None of the Corporation, the trustees for the notes, the agents under the respective indentures for the notes, the US Information and Tabulation Agent, the Canadian Information and Tabulation Agent, any of their respective subsidiaries or affiliates or any of its or their respective directors, officers, employees or representatives makes any recommendation to holders as to whether or not to deliver their consent pursuant to any of the Consent Solicitations, and none of the foregoing has authorized any person to make any such recommendation. Holders must decide whether to provide their consent. This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the notes or any other securities in the United States or any other jurisdiction, and neither this notice nor any part of it, nor the fact of its release, shall form the basis of, or be relied on or in connection with, any contract therefor. The Consent Solicitations are made only by and pursuant to the terms and conditions of the Consent Solicitation Statement and the information in this notice is qualified by reference to the Consent Solicitation Statement. None of the Corporation or the tabulation agents makes any recommendations as to whether or not holders should deliver their consent pursuant to any of the Consent Solicitations. Holders are requested to read and consider carefully the information contained in the Consent Solicitation Statement and to deliver their consent in accordance with the instructions set forth in the Consent Solicitation Statement. About Bombardier Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. News and information is available at bombardier.com or follow us on Twitter @Bombardier. Bombardier is a trademark of Bombardier Inc. or its subsidiaries. This announcement does not constitute an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Consent Solicitation to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made by one or more registered brokers or dealers licensed under the laws of such jurisdiction. Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements, including statements with respect to the Corporation’s ability to complete the Consent Solicitation, are based on estimates, projections, beliefs and assumptions that Bombardier believes are reasonable but are not guarantees of future events and results. Forward looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements. For additional information regarding these risks and uncertainties, and the assumptions underlying the forward looking statements, please refer to the Consent Solicitation Statement. For information Francis Richer de La FlècheVice President, Financial Planning and Investor RelationsBombardier+1 514 855 5001 x13228Mark MasluchSenior Director, Communications Bombardier +1 514 855 7167