Bombardier Posts LOSS, Lowers 2019 Profit Forecast As Rail Woes Persist...
We continue to view near-term execution risks as high
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August 1, 2019 - by Allison Lampert for reuters.com
Bombardier Inc on Thursday lowered its full-year core earnings and free cash flow forecasts, and reported a quarterly loss, as the Canadian plane and train maker wrestles with challenges in its important rail division.
"We continue to view near-term execution risks as high, evidenced by setbacks in (transportation) and the lowering of 2019 EBITDA (earnings before interest, tax, depreciation and amortization) and (free cash flow) guidance," Citigroup analyst Manish Somaiya wrote in a note to clients. "We expect this shift in guidance to weigh on the bonds."