Alstom Sinks Most Since 2023 After Pulling Full-Year Outlook
Alstom employees on the train assembly line inside the Alstom SA factory in Aytre, France.
Photographer: Marlene Awaad/BloombergAlstom SA shares slid the most in over two years after the manufacturer withdrew financial guidance, with new Chief Executive Officer Martin Sion citing slow progress on key projects for railway rolling stock.
The French train maker late Thursday scrapped its target for €1.5 billion ($1.8 billion) in cumulative free cash flow through the end of the current fiscal year that runs through March 2027. It also won’t reach an adjusted Ebit margin target of as much as 10% in that period.