Bombardier (BBD) announced a $1.2B, 40 aircraft order from Vista - with purchase options that could take that to $4.7B. The deal builds on a $2B order last year and will add anywhere from 7-27% to its ~$17B backlog…

… which underpins the company’s 2026 guide for continued growth in aircraft deliveries.

Execution on that backlog should be the primary driver of performance from here, assuming there’s not a whole lot more room for multiple expansion.