So, it will need to continue expanding its services footprint, which it already has been doing with new service centers coming online and more service center such as in Abu Dhabi opening in the future. Over the past year it was driven by improving flight activity but Bombardier also will at some point reach an asymptote on flight utilization driving the aftermarket sales growth. That's also something that we would expect as utilization cannot grow infinitely, the growth of aftermarket sales also is limited. Revenues were up 17% during the quarter to $1.453 billion with the mix between services and manufacturing being stable year-over-year. With a focus on business jets we don't only see the business jet manufacturing and service revenues improving, we also see the margins improving and the debt going down. Focus on one area, sell the other segments and take the associated debt out of the business and use the proceeds to pay off debt, R&D and business optimization. Once Bombardier realized that it had to focus its business rather than being diversified in all directions and failing in all of them, the task was easy. Probably the only thing I regret is not being a shareholder but sometimes analysts are better at analyzing than investing. I've been covering Bombardier for years, and since June last year I have a buy rating on the stock and that paid off with a 196.6% return. Bombardier Stock: Impressive Share Price Return In this report, I will be discussing the Q1 2023 results for Bombardier and provide a valuation of the stock. Bombardier is now a company focused on business jet production and aftermarket support for those jets, and that has been a good choice so far. I've covered Bombardier ( OTCQX:BDRAF) for several years and saw the company putting itself in billions of dollars of debt to develop the C Series, the aircraft that it would never be able to capitalize on as a conflict with Boeing ( BA ) and its dire financial performance forced the company to sell some of its businesses including the commercial airplanes business. Its jets include Challenger 300, Challenger 350, Challenger 3500, Global 5000, Global 5500, Global 6000.Boarding1Now/iStock Editorial via Getty Images The Company's robust customer support network services the Learjet, Challenger, and Global families of aircraft, and includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Italy, Austria, The United Arab Emirates, Singapore, China and Australia.
The Company also provides aftermarket support for both of these aircraft, as well as for the Learjet family of aircraft. The Company designs, develops, manufactures and markets two families of business jets (Challenger and Global), spanning from the mid-size to large categories. The Company has a fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments, and private individuals. is focused on designing, manufacturing, and servicing business jets.
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