Bombardier: cuts 2019 forecasts after 'soft' first quarter
(CercleFinance.com) - Bombardier has cut its forecasts for 2019 after the Canadian aerospace and transport technology group had a "soft" first quarter, the company said on Thursday.
Bombardier today announced its preliminary financial results for the first quarter, saying that adjusted EBITDA was expected to be about 265 million dollars, on revenues of approximately 3.5 billion dollars.
The company also provided updates to full year revenue and earnings outlook, with consolidated revenue guidance now expected to be 1 billion dollars lower at 17 billion dollars.
Citing "lower project ramp up" at its transportation business, Bombardier also cut its consolidated adjusted EBIT forecast, from 1.15 billion dollars - 1.25 billion dollars to 1 billion dollars - 1.15 billion dollars.
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