Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

Bombardier posts quarterly loss as rail division struggles

Bombardier posts quarterly loss as rail division struggles
FILE PHOTO: The Bombardier FV-Dosto double-deck train "Ville de Geneve" of Swiss railway operator SBB is seen at the central station in Zurich, Switzerland April 29, 2019. REUTERS/Arnd Wiegmann -
Euronews logo
Text size Aa Aa

(Reuters) – Bombardier Inc <BBDb.TO> reported a quarterly loss on Thursday, compared with a year-ago profit, as the Canadian plane and train maker wrestled with challenges in its key rail division.

The company posted a net loss of $36 million, or 4 cents per share, in the second quarter ended June 30, compared with a profit of $70 million, or 2 cents per share, a year earlier.

Bombardier also reduced its adjusted core earnings forecast for the full year to a range of $1.20 billion to $1.30 billion, from $1.50 billion to $1.65 billion that it had forecast earlier.

The company said the cut reflected its plans to consolidate its three existing aerospace units into a single Bombardier aviation business segment from the third quarter and additional investments, costs and timings of project in its rail business.

(Reporting By Allison Lampert in Montreal and Arathy S Nair at Bangalore; Editing by Shailesh Kuber)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.