Bombardier limits cash burn, sees earnings near top of forecast

Montreal

BOMBARDIER Inc burned through less cash than expected in the second quarter and said pre-tax earnings this year will be in the top half of a previously disclosed range, as chief executive officer Alain Bellemare forges ahead on his turnaround plan.

Free cash flow usage in the period ended June 30 was US$570 million, Bombardier said in a statement Friday. That was less than the US$580 million average of analysts' estimates compiled by Bloomberg. In addition, the company raised the floor of its forecast for this year's earnings before interest and taxes by US$50 million.