|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||16.11 - 16.11|
|52-week range||5.80 - 16.88|
|Beta (5Y monthly)||2.80|
|PE ratio (TTM)||9.14|
|Forward dividend & yield||0.79 (5.13%)|
|Ex-dividend date||13 Jul 2022|
|1y target est||N/A|
Bombardier Inc shares fell as much as 17.4% on Monday as workers on a key business jet program walked off the job for a day and amid a broader selloff in global markets. The workers are mostly on the company's strong-selling Challenger business jet family, which accounted for just over a third of the company's plane deliveries in 2021. Bombardier has said it would put a contingency plan in place to reduce the impact on operations from the strike.
The Montreal-based planemaker said the Global 8000 will become the world's fastest business jet with an ultra-long range of 8,000 nautical miles (9,206 miles) and a top speed of Mach 0.94 (721 miles per hour). The plane will enter service in 2025 and compete with high-end models offered by rivals General Dynamics and France's Dassault Aviation - the Gulfstream G700 and Falcon 10X, respectively. Bombardier said the Global 8000 will have a list price of $78 million, slightly higher than the $75 million which its predecessor and the company's flagship Global 7500 lists for.
Bombardier shares tumbled 3% in morning trade. Corporate jet makers are reporting swelling order backlogs, as affluent passengers continue flying private during the COVID-19 pandemic. Chief Executive Eric Martel told analysts Bombardier would look to reassess 2022 free cash flow guidance of greater than $50 million later this year, after generating $173 million from continuing operations during the first quarter.