Bombardier: quarterly earnings lifted by transportation unit
(CercleFinance.com) - Bombardier reported higher operating profit on Thursday as the Canadian civil aircraft maker got a lift from its transportation unit.
Bombardier reported EBIT before extraordinary items of 165 million dollars over the period, nearly double that of Q3 2016.
Revenue rose by 8% to 3.8 billion dollars, thanks to a 20% revenue growth at its transportation division.
However, Montreal-based Bombardier also reported a rise in free cash flow usage of 495 million dollars over the quarter, compared to 320 million dollars in the same period a year ago.
The group posted a net loss of 117 million dollars over the quarter, compared to a loss of 94 million dollars in Q3 2016.
The company said it now expects consolidated full-year EBIT before extraordinary items to be at least 630 million dollars, the upper end of its previous guidance range.
Last month Bombardier announced a partnership with Airbus for the C Series jet, which should more than double the value of the program.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Bombardier reported EBIT before extraordinary items of 165 million dollars over the period, nearly double that of Q3 2016.
Revenue rose by 8% to 3.8 billion dollars, thanks to a 20% revenue growth at its transportation division.
However, Montreal-based Bombardier also reported a rise in free cash flow usage of 495 million dollars over the quarter, compared to 320 million dollars in the same period a year ago.
The group posted a net loss of 117 million dollars over the quarter, compared to a loss of 94 million dollars in Q3 2016.
The company said it now expects consolidated full-year EBIT before extraordinary items to be at least 630 million dollars, the upper end of its previous guidance range.
Last month Bombardier announced a partnership with Airbus for the C Series jet, which should more than double the value of the program.
Copyright (c) 2017 CercleFinance.com. All rights reserved.