Bombardier Jumps as ‘Vastly Improved’ Cash Flow Buoys Revamp
- Company reaffirms 2019 forecasts as CEO tries to regain trust
- Heavy investment phase ends as turnaround enters fourth year
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Bombardier Inc. jumped the most in almost three months after the company surpassed analysts’ expectations for cash flow and reaffirmed its 2019 forecast, steadying the outlook after a disastrous earnings report three months ago.
Free cash flow reached $1.04 billion in the fourth quarter, Bombardier said in a statement Thursday. That exceeded the $890 million average of estimates compiled by Bloomberg. The maker of planes and trains also stood by its financial targets for this year, which include sales of at least $18 billion and break-even free cash flow, plus or minus $250 million.