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Bombardier: shares up as 'strong momentum' continues

(CercleFinance.com) - Bombardier reported a higher quarterly operating profit on Thursday, with the Canadian civil aircraft maker clearly benefiting from a "strong momentum" in the middle of its five-year turnaround plan.

Bombardier said fourth-quarter consolidated full-year EBIT before extraordinary items more than doubled to 215 million dollars, from 104 million in fourth-quarter 2016.

At the same time, Bombardier reported a net loss of 109 million dollars, or 5 cents a share, for its fourth quarter, compared to a net loss of 259 million dollars, or 12 cents a share, a year ago.

Revenue rose to 4.7 billion dollars from 4.4 billion dollars.

Bombardier also reported a free cash flow performance for 2017 that exceeded its guidance by over 200 million dollars, with a usage of just 786 million dollars.

After these results, Bombardier shares were up 7.9% at 3.55 Canadian dollars on the Toronto Stock Exchange on Thursday morning.

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