07:17 AM EDT, 04/25/2024 (MT Newswires) -- Bombardier (BBD-A.TO, BBD-B.TO) reported on Thursday first quarter adjusted earnings per share of US$0.36, beating a Capital IQ forecast of $0.30 and compared to $1.06 a year earlier.

The company also reported diluted EPS of $1.02, more than double the Capital IQ forecast of $0.49 and compared to $2.98 a year earlier.

Bombardier said the first quarter result was marked by a "robust" increase in service revenues and order activity. But revenues were near $1.3 billion, missing a Capital IQ forecast of nearer $1.5 billion and down from $1.453 billion a year earlier.

Still, the company said it sold 60% more jets in the first quarter of 2024 compared to 2023, and its backlog increased by $700 million since the beginning of the year to $14.9 billion on unit book-to-bill of 1.6.

Bombardier said its production plan "remains on track" to meet full-year 2024 delivery guidance.