8.6 C
New York
Thursday, July 29, 2021
Home World News Bombardier starts gradual resumption of manufacturing, reports Q1 loss

Bombardier starts gradual resumption of manufacturing, reports Q1 loss

Bombardier Inc. said it has started the gradual resumption of manufacturing operations at both its aircraft and rail operations that had been closed due to the coronavirus pandemic, as it reported a loss of $200 million US in its first quarter.

The company, which shuttered its operations in March when all non-essential work came to a stop in an effort to slow the spread of COVID-19, said it expects business activity to hit a low point in the second quarter, before gradually recovering in the second half of the year.

For the first quarter, Bombardier, which keeps its books in U.S. dollars, lost 11 cents per diluted share compared with a profit of $239 million US, or eight cents per share, a year ago.

Revenue totalled $3.69 billion US in the three-month period ended March 31, up from nearly $3.52 billion US in the first quarter of 2019.

On an adjusted basis, Bombardier says it lost $169 million US, or 10 cents per share, in the first quarter compared with an adjusted loss of $122 million US, or seven cents per share, a year earlier.

Analysts on average had expected an adjusted loss of seven cents per share for the quarter, according to financial markets data firm Refinitiv.

Source link

Today news
Today News 1 runs four of the western GTA’s most influential media websites, offering news, food, lifestyle and entertainment coverage for millions to the Golden Horseshoe and GTA regions. The independently-run, online news source was founded in 2019 and specializes in everything from breaking news to food and restaurant, arts and entertainment and lifestyle coverage.


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Matt Damon on his new film, Stillwater, and why there’s ‘no diplomacy’ between him and Ben Affleck

People like Matt Damon. Whether he's playing Jason Bourne, Mr. Ripley, Private Ryan or Will Hunting, Damon is an actor that moviegoers are...

It took over a year for cross-border concertgoers to finally see ticket refunds

Luc Noel and Bronwen Stenger had separate plans to attend concerts in Michigan, and each bought tickets before the pandemic began. Neither anticipated it...

ZZ Top bassist Dusty Hill dies in his sleep at 72

ZZ Top bassist Dusty Hill, one of the Texas blues rock trio's bearded figures, died at his Houston home, the band announced Wednesday....

Animated children’s series Arthur to end in 2022

After almost 25 years in production, beloved animated series Arthur will debut its final season in winter 2022. In an email statement...

Recent Comments