‘Very disappointed‘: Bombardier withholds financial forecast due to tariff threat

Signage is seen at the Bombardier plant in Montreal, Tuesday, Feb. 4, 2025. THE CANADIAN PRESS/Christinne Muschi

Bombardier Inc. held off on giving investors a financial forecast for the year, citing the uncertainty posed by U.S. President Donald Trump’s tariff threats.

Chief executive Éric Martel said he was “very disappointed” the business jet maker could not provide targets.

“We need to exercise caution until we see how this all unfolds,” he said told analysts on a conference call Thursday.

“We are still geared up to meet the 2025 objectives,” he added. “But this being said, we still have to be responsible and not provide guidance.”

The absent predictions speak to the massive question mark still hovering over aerospace, manufacturing and myriad other industries after Trump pledged sweeping 25 per cent duties on Canadian and Mexican imports, then agreed last-minute on Monday to defer them for a month. Prior to the pause, Canada also pledged retaliatory tariffs on $155 billion worth of American goods.

The tariffs would pose big problems for Bombardier, which counts more than 2,800 suppliers across 47 states in the U.S. — still its core customer base.

Operations to transform some of the company’s ultra-long-range Global 6500 jets into military patrol planes take place in Wichita, Kan. Bombardier builds the wings for its larger Global 7500 just south of Dallas.

“The vast majority of our platforms are made up of more U.S. parts and systems than any other country,” Martel said.

“Given the global nature of the aviation manufacturing industry, these proposed tariffs as well as potential reciprocating tariffs could have an enormous impact with many unintended consequences.”

On Thursday, Bombardier reported a fourth-quarter profit of US$124 million, down from US$215 million a year earlier as its revenue crept higher.

The Montreal-based private jet maker, which keeps its books in U.S. dollars, said revenue for the quarter totalled US$3.11 billion, up from US$3.06 billion in the final three months of 2023.

On an adjusted basis, Bombardier earned US$3.01 per share in its latest quarter compared with an adjusted profit of US$1.37 per share a year earlier. The result far exceeded analysts' expectations of US$2.01 per share.

This report by The Canadian Press was first published Feb. 6, 2025.