The Montreal-based company said its third-quarter adjusted loss narrowed to US$2 million from US$95 million a year earlier.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
The company, which faced a cash crunch in 2015, is focused on reducing debt, and cut debt by US$100 million during the quarter. Plane makers, however, are facing pressure from supply chain and labour disruptions as well as soaring inflation and broader concerns over a softening global economy. Bombardier said its 2022 deliveries remain on track for more than 120 aircraft.Article content
The company reported third-quarter free cash flow of US$52 million, compared with US$100 million last year.Bombardier reported an adjusted loss of 10 U.S. cents per share. Analysts on average were expecting a loss of 48 U.S. cents per share according to Refinitiv data. Revenue rose slightly to US$1.46 billion from a year earlier, helped by a 20 per cent year-over-year increase in aftermarket revenues, which rose to US$372 million. Analysts on average were expecting revenue of US$1.597 billion, as per Refinitiv data.
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