Canada’s Bombardier cuts full-year profit and revenue forecast
FILE PHOTO: Logo of Bombardier is seen at an office building in Zurich, Switzerland, February 28, 2019. REUTERS/Arnd Wiegmann/File Photo
(Reuters) – Canada’s Bombardier Inc on Thursday cut its full-year profit and revenue forecast, due to slower production ramp-up of some of its large projects in its transportation business.
The plane and train maker cut its 2019 revenue estimates by $1 billion to $17 billion, while adjusted core earnings is expected to be in the range of $1.50 billion to $1.65 billion, compared with its prior expectation of $1.65 billion to $1.8 billion.
Reporting by Arathy S Nair in Bengaluru; Editing by Anil D’Silva