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.
Does Bombardier receive Subsidies from Canadian Tax Payers ?
How much do they make when government money isn’t being given to them?
It’s time for the Libs to step up to the plate and provide some cash.