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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.

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