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Bombardier limits cash burn, sees earnings near top of forecast
Add BT as a preferred sourcePublished Sun, Jul 30, 2017 · 09:50 PM
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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.
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