Bombardier reports US$192M Q3 profit compared with a loss a year ago
Bombardier Inc. reported net income of US$192 million in its third quarter compared with a net loss of US$91 million in the same quarter last year.
The Montreal-based company, which keeps its books in U.S. dollars, says the profit amounted to five cents per diluted share for the quarter ended Sept. 30 compared with a loss of six cents per share a year ago.
Revenue, including its railway division which is being sold to Alstom, totalled nearly US$3.53 billion, down from $3.72 billion in the same quarter last year.
On an adjusted basis, Bombardier says it lost US$215 million or 13 cents per share in its third quarter compared with an adjusted loss of US$55 million or four cents per share a year ago.
Last week, Alstom shareholders approved its US$8.4-billion purchase of Bombardier’s railway division.
The deal is expected to close in the first quarter of 2021.