Bombardier (TSX:BBD.B) stock was up 1.94% in mid-afternoon trading on October 29. Shares have plunged 32% month-over-month as a brutal October has nearly erased all the gains for Bombardier in 2018.
Investors waiting on a pullback may have the perfect opportunity as the company prepares to release its third-quarter results no November 8.
Bombardier and Airbus released the first 75 CSeries jets to Delta Airlines on October 26.
The delivery marks the end of a long saga that saw Bombardier wrestle with Boeing and escape a short-lived tariff that it side-stepped by partnering with the European multinational. The deal was positive in the near term, but Airbus reserves the right to take full control of the project in the next decade.
In the second quarter of 2018 Bombardier posted revenues of $4.3 billion which was up 3% year over year. The company announced improved cash flow usage of approximately $370 million and projected that it was on track to meet its full-year breakeven target.
Bombardier reported that its backlog had expanded across every business segment heading into the third quarter.
There are several discounts that should pique investor interest as this brutal October winds to a close. That is not to say that the market will be able to shed volatility in November and December.
Bombardier is well-positioned to finish the final two quarters of fiscal 2018 on a good note, and investors should consider stacking as its stock nears a 52-week low.
