Bombardier Cuts Financial Outlook
CBJ — Bombardier is cutting its financial guidance for the year due to lower expectations at its transportation business and commercial aircraft division. The news immediately sent shares downward by about 18%.
The company now expects full-year revenues to be approximately US$17 billion, which is about $1 billion lower than originally anticipated.
Bombardier says revenue at its commercial aircraft business is expected to be about $250 million lower due to an earlier than anticipated closing of the sale of its business aircraft training business and the Q400 program.
Transportation revenue is projected to be about $750 million lower due to what it Bombardier says is due to production ramp-up adjustments.