Bombardier: cuts full-year guidance on costs, investments
(CercleFinance.com) - Bombardier said it had to cut its full-year profit and revenue forecasts after it added further manufacturing and engineering capacity to its transportation business.
The Canadian plane and train maker lowered its 2019 revenue estimate to 16.5 billion dollars-17 billion dollars, from 17 billion dollars previously.
Its adjusted Ebit is now expected to be between 700 million dollars to 800 million dollars, compared with a previous forecast range of 1 billion dollars to 1.15 billion dollars.
The change reflects additional investments and costs at its transportation unit, as well as the consolidation of the group's three existing aerospace units into a single aviation business from the third quarter, the group said.
Bombardier's revenues for the second quarter were 4.3 billion dollars, up 1%, while adjusted EBIT was 312 million dollars, down 24%.
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