0724 ET - TD Cowen continues to believe tariff risk and free cash flow uncertainty will limit upside for Bombardier in the short term. Analyst Tim James says the business jet manufacturer withdrew 2025 guidance due to tariff uncertainty, but implied "a relatively flat delivery environment at about 150 units a year and suggested supply-chain headwinds are likely to persist through 2025 before abating in 2026." James forecasts 2025 free cash flow of $819 million, 18% growth in adjusted Ebitda, and 170 basis points of EBIT margin expansion "with further upside beyond 2025 related to manufacturing margin expansion, product mix and increasing Defense and Service revenues." If U.S. tariffs do come, James thinks they will likely be short-lived. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 07:25 ET (12:25 GMT)
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