TELETRADER News
1/16, 5:06 PM (Source: TeleTrader)
more TeleTrader news

Bombardier tanks over 30% on downgraded 2019 outlook

Canadian planemaker Bombardier Inc. published on Thursday the results it expects for the fourth quarter and the whole of 2019, revising down key figures due to "actions at Transportation to resolve challenging projects." The firm also warned it may have to write down the value of its A220 partnership with Airbus.

Consolidated revenues for the last three months of 2019 are now expected to amount to $4.2 billion, while the full-year figure is seen at $15.8 billion, approximately. It delivered 58 aircraft in the fourth quarter for a total of 175 aircraft last year, the release noted.

At 10:50 am ET, the company's stocks plunged 30.17% to 1.25 Canadian dollars per share, their lowest in almost four years.

Breaking the News / NI