Friday, August 12

Bombardier posts loss in second quarter, boosts guidance on free cash flow


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MONTREAL — Bombardier Inc. is posting a second-quarter loss but has raised its 2022 full-year guidance on free cash flow.

The business jet maker, which keeps its books in US dollars, says its loss attributable to equity holders totalled US$129 million or US$1.43 per diluted share for the quarter ended June 30, compared with a profit attributable to equity holders of US$139 million or US$1.33 per diluted share a year earlier.

Revenue for the quarter amounted to US$1.56 billion, up from US$1.52 billion in the same quarter last year.

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On an adjusted basis, Bombardier says it lost 48 cents per share in its most recent quarter, compared with an adjusted loss of US$1.49 per share a year earlier.

Bombardier has boosted its free-cash forecast, which is now expected to be better than US$515 million for the year.

Bombardier says it delivered 28 aircraft in the quarter. It is also confident that the business aviation industry will grow in the long term, driven by continued wealth creation and introduction of new aircraft models and technologies.

This report by The Canadian Press was first published Aug.4, 2022.

Companies in this story: (TSX:BBD.B)



financialpost.com

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