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Bombardier Inc.B (BDRBF)

  • Today, 7:19 AM
  • Wed, Feb. 25, 8:29 AM
    • Bombardier (OTCPK:BDRAF, OTCQX:BDRBF) has confirmed it is targeting Thursday for the maiden flight of its new CSeries CS300 jetliner.
    • The company has struggled to secure orders for the jet, facing design issues that have pushed back its expected entry into service.
    • So far, only 243 firm orders have been placed, with around two-thirds of them for the larger CS300.
  • Thu, Feb. 19, 4:57 PM
    • Bombardier (OTCQX:BDRBF, OTCPK:BDRAF) has signed a deal with a syndicate of underwriters to raise at least $750M (US$604M) through an equity offering, the first step in a previously announced plan to raise up to C$2.1B through the issue of both debt and equity.
    • Under the deal, Bombardier will issue ~339.4M subscription receipts at $2.21 each, to be exchanged for Bombardier’s class B shares once the financing has been approved by a shareholder vote; an underwriters option for an additional 50.9M subscription receipts could push the total raised to C$863M.
    • The move follows a steep Q4 loss and the naming of a new CEO to tackle what many observers see as a series of management missteps related to the company’s ambitious jet program.
  • Thu, Feb. 12, 10:55 AM
    • Bombardier ((OTCPK:BDRAF -6.6%)), ((OTCQX:BDRBF -7.9%)) shares are heading south after an executive reshuffle at the struggling plane maker.
    • The news came after the company warned last month it would book a $1.4B charge on the suspension of its Learjet project.
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  • Thu, Feb. 12, 8:51 AM
    • Along with its Q4 results, Bombardier (OTCPK:BDRAF), (OTCQX:BDRBF) has announced the retirement of longtime Chairman Laurent Beaudoin, while appointing current CEO Pierre Beaudoin (Laurent's son) in his place.
    • The company named Alain Bellemare, a former United Technologies executive, as new CEO and president.
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  • Thu, Feb. 12, 8:00 AM
    • Adjusted net income of $83M, or $0.04 per share vs. $129M, or $0.07 for the same period last fiscal year.
    • Revenue by segment: Aerospace +15.8%; Transportation +13.3%.
    • A total of 101 aircraft were delivered during the quarter vs. 83 for the same period last year. The company received 67 net orders vs. 252, and delivered 290 aircraft vs. 238 a year ago.
    • New Transportation orders reached $1.8B (book-to-bill ratio of 0.7), bringing total orders for the year to $12.6B (book-to-bill ratio of 1.3). Backlog of $32.5 as at December 31, 2014 vs. $32.4B a year ago.
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  • Tue, Feb. 10, 10:19 AM
    • Bombardier ((OTCQX:BDRBF), (OTCPK:BDRAF +0.2%)) and New United Group have finalized their agreement to establish a joint venture which will focus on signalling and rail control for the Chinese mass transit and light rail markets.
    • Each company will have a 50% share in the new venture, which will be known as Bombardier NUG Signalling Solutions Company Limited.
    • Previously: Bombardier expects boost following China safety clearance (Jan. 28 2015)
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  • Mon, Feb. 9, 9:29 AM
    • American Airlines (NASDAQ:AAL) has signed a firm order for 24 Bombardier (OTCQX:BDRBF, OTCPK:BDRAF) CRJ900 NextGen regional jets, after announcing the order on Dec. 30.
    • Based on CRJ900 NextGen list prices, the purchase is valued at approximately $1.14B.
  • Mon, Feb. 2, 9:34 AM
    • Chorus Aviation (OTC:CRHVF, OTC:CHRVF) has signed a firm purchase agreement with Bombardier (OTCQX:BDRBF, OTCPK:BDRAF) to acquire 13 Q400 NextGen aircraft, with options for 10 more.
    • Based on the list price of the plane, the firm order is valued at approximately $424M, and could increase to $758M should Chorus exercise all its options.
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  • Wed, Jan. 28, 9:43 AM
    • Providing a springboard for more orders, Bombardier ((OTCQX:BDRBF), (OTCPK:BDRAF)) expects to receive safety certification from China for its high-speed trains as early as next month.
    • The regulatory clearance means the company will be able to begin delivering 80 of its CRH380D trains first ordered in 2009, worth an estimated $2B.
    • Bombardier, which has five joint ventures in the country, is the only foreign firm in China able to take orders for a whole high-speed train.
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  • Mon, Jan. 26, 11:11 AM
    • CAE (CAE +1.1%) has agreed to acquire Bombardier's ((OTCPK:BDRAF -0.2%), (OTCQX:BDRBF +0.3%)) Military Aviation Training business for approximately C$19.8M.
    • The deal is expected to close in 2015.
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  • Mon, Jan. 26, 7:37 AM
    • Bombardier (OTCQX:BDRBF, OTCPK:BDRAF) is suspending work on its contract to build the city of Montreal’s new metro cars for six months due to a supplier problem on critical software for the rail equipment.
    • About a third of the company’s 430 workers at the company’s train plant in La Pocatiere, Quebec will be laid off temporarily.
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  • Wed, Jan. 21, 8:37 AM
    • Shares of Bombardier (OTCQX:BDRBF, OTCPK:BDRAF) could dip under $2 as the firm faces added downside from execution and potential liquidity risks writes Peter Arment, Josh W. Sullivan and Asher Carey in Barron's.
    • Sterne Agee sees the Underperform-rated stock with a PT of $2 instead of $3.10 based on 7x enterprise value to EBITDA utilizing 2015 estimates.
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  • Wed, Jan. 21, 7:36 AM
    • Elix Aviation Capital is the latest to join Bombardier's (OTCQX:BDRBF, OTCPK:BDRAF) family of Q400 aircraft owners and operators, after taking an assignment of three Q400 NextGen aircraft previously booked by an existing customer.
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  • Fri, Jan. 16, 4:54 PM
    • Bombardier’s (OTCQX:BDRBF, OTCPK:BDRAF) cash levels are getting “uncomfortably close” to the minimum needed to run the company, analysts said today, extending losses for a second day after the company cut its guidance and suspended its Learjet 85 program.
    • Bombardier warned that operating cash flow will total ~$800M for this year instead of a previous forecast of $1.2B-1.6B, free cash flow is expected to come in at zero, and its cash balance at the end of 2014 was just $2.4B.
    • “Considering the company requires $2B in cash to start the year, the current cash level is coming uncomfortably close to the required cash balance,” according to RBC analyst Walter Spracklin, who lowered his 12-month price target for the stock to $3.50 from $4.
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  • Fri, Jan. 16, 7:25 AM
    • The downgrades are starting to pile up after Bombardier (OTCPK:BDRAF, OTCQX:BDRBF) paused its Learjet 85 program on Thursday and revised it 2014 guidance.
    • The stock has now been lowered to Neutral at Citigroup and downgraded to Sector Performer from Outperformer at CIBC.
    • Bombardier shares plummeted over 20% yesterday following the news.
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Company Description
Bombardier is a world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services.