Bombardier: returns to profit as rail unit shines
(CercleFinance.com) - Bombardier reported higher earnings and revenue on Thursday as the civil aircraft maker got a lift from its transportation unit.
Bombardier reported second-quarter net profit of 70 million dollars, or 2 cents a share, up from a net loss of 243 million dollars in the second quarter of 2017.
Revenue rose 3% to 4.3 billion dollars.
Montreal-based Bombardier, which is also one the world's biggest train makers, said revenues at its transportation (rail) division continued to grow, increasing by 11% year-on-year, driven by rolling stock and systems, services and signalling.
Bombardier, also announced that cash flow usage was approximately 370 million dollars over the quarter, in line with its full-year plan.
The group confirmed that it is on track to achieve its 2018 guidance and 2020 targets.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Bombardier reported second-quarter net profit of 70 million dollars, or 2 cents a share, up from a net loss of 243 million dollars in the second quarter of 2017.
Revenue rose 3% to 4.3 billion dollars.
Montreal-based Bombardier, which is also one the world's biggest train makers, said revenues at its transportation (rail) division continued to grow, increasing by 11% year-on-year, driven by rolling stock and systems, services and signalling.
Bombardier, also announced that cash flow usage was approximately 370 million dollars over the quarter, in line with its full-year plan.
The group confirmed that it is on track to achieve its 2018 guidance and 2020 targets.
Copyright (c) 2018 CercleFinance.com. All rights reserved.