Bombardier slashes financial outlook, full-year revenue down by $1 billion
Canada’s Bombardier Inc cut its full-year profit and revenue forecast on Thursday, as delays in some large projects hit its dominant transportation unit that makes rail cars.
Montreal-based Bombardier cut its 2019 revenue estimate by US$1 billion to US$17 billion, while adjusted core earnings are expected to be in the range of US$1.50 billion to US$1.65 billion, compared with its prior expectation of US$1.65 billion to US$1.8 billion. Last November, Bombardier said it was selling the business to a unit of Longview Aviation Capital for US$300 million and its corporate aircraft training business to CAE Inc for US$645 million.
The company, however, maintained its earnings forecast for its aerospace business and continues to expect free cash flow to breakeven, plus or minus US$250 million.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bombardier slashes full-year revenue forecast by $1-billion, warns on lower profitPlane and train maker cites slower production ramp-up of some of its large projects in its transportation business
Read more »
Boeing says worldwide groundings of 737 Max jets costs US$1-billion in first quarterThe world’s largest maker of planes suspended its 2019 financial outlook and share buybacks on Wednesday as it works toward regulator certification of a software update designed to prevent more crashes
Read more »
Toyota, SoftBank, Denso invest $1-billion in Uber tech unitUber’s Advanced Technologies Group will try to develop and commercialize automated ride-sharing services
Read more »
Toyota, Denso, SoftBank invest US$1-billion in new Uber tech unitAdvanced Technologies Group will try to develop and commercialize automated ride-sharing services
Read more »
Ontario Slashes Toronto Public Health Funding By $1 BillionThe cuts will take place over the next 10 years and will touch all of Ontario's health units, a Toronto city councillor says.
Read more »
Ex-wife filed ‘false and fraudulent’ report in bid to extort $1-million from former Alberta attorney general: judge‘Palmer carefully timed her false and fraudulent accusations, immediately before the Provincial election . . . to cause the maximum amount of injury to Jonathan Denis’
Read more »
Boeing's troubled jet is costing $1 billion to fix so farBoeing is already estimating a $1 billion increase in costs related to its troubled 737 Max and has pulled its forecast of 2019 earnings because of uncertainty surrounding the jetliner, which remains grounded after two crashes that killed 346 people.
Read more »
Ford government to cut $1-billion in funding to Toronto Public Health over 10 years, board chair saysIn a conference call, the Health Ministry told public health officials from across the province it would be phasing in funding cuts to some programs by as much as 50 per cent, Joe Cressy said, with municipalities left to fund the gap
Read more »
Mozambique starts the long process of rebuilding after cyclone Idai ravaged the countryThe UN fundraising appeal to cover the initial emergency was for US$282 million — a far cry from the nearly US$1 billion pledged to rebuild Notre Dame Cathedral in Paris
Read more »
Yellow vest anger burns in France, fuelled by donations to rebuild Notre DameProtesters annoyed by the $1 billion in donations for Notre Dame renovations from French tycoons, while their own economic demands remain largely unmet
Read more »