Bombardier profit falls to US$182 million, revenue down due to contract timing
MONTREAL – Bombardier Inc. (TSX:BBD.B) says its second quarter net income fell, but the decline was largely in line with expectations.
The Montreal-based company, which reports in U.S. currency, says it had 10 cents per diluted share of net income in the second quarter.
That’s down from US$211 million or 12 cents per share a year earlier.
Analyst estimates compiled by Thomson Reuters had also been for 10 cents per share of profit but revenue fell short of estimates by about $400 million.
Revenue fell to $4.2 billion from $4.7 billion, with all of the decline at Bombardier Transportation, the rail division, due to the timing of certain large contracts.
Bombardier Aerospace increased its revenue by $200 million to $2.3 billion.
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