Bombardier increases revenue but still reports $109M fourth quarter loss
The Bombardier CS300 performs its demonstration flight at the Paris Air Show in Le Bourget, north of Paris, Wednesday June 17, 2015. Bombardier Inc. has signed a letter of intent to sell up to 24 CS300 aircraft to EgyptAir Holding Co. THE CANADIAN PRESS/AP-Remy de la Mauviniere
The Canadian Press
Published Thursday, February 15, 2018 7:17AM EST
MONTREAL -- Bombardier Inc. reported a fourth-quarter loss of US$109 million compared with a loss of US$259 million in the same quarter a year earlier.
The Montreal-based aerospace and railway manufacturer, which keeps its books in U.S. dollars, says the loss amounted to five cents per share for the three months ended Dec. 31 compared with a loss of 12 cents per share in the prior quarter.
Revenue totalled $4.72 billion, up from $4.38 billion.
On an adjusted basis, Bombardier says it earned $51 million or two cents per share for the quarter compared with an adjusted loss of $141 million or seven cent per share a year earlier.
Analysts on average had expected a break-even quarter for the company and revenue of $4.75 billion, according to Thomson Reuters.
The company also announced that its stake in Bombardier Transportation will increase by 2.5 percentage points to 72.5 per cent because the division's results outpaced the performance targets in its investment agreement with Quebec pension fund manager Caisse de depot.