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Bombardier reports US$377 million Q3 loss, revenue up from year ago

MONTREAL — Bombardier Inc. reported a third-quarter loss of US$377 million compared with a profit of US$192 million a year ago.

The business jet maker, which keeps its books in U.S. dollars, says the loss amounted to 16 cents per diluted share for the quarter ended Sept. 30 compared with a profit of five cents per diluted share in the same quarter last year.

On an adjusted basis, Bombardier says it lost four cents per diluted share in its most recent quarter compared with an adjusted loss of nine cents per share a year earlier.

Revenue totalled nearly US$1.45 billion, up from nearly US$1.41 billion in its third quarter of 2020.

Analysts on average had expected an adjusted loss of five cents per share and US$1.37 billion in revenue for the quarter, according to financial markets data firm Refinitiv.

Last month, Bombardier announced a firm order for 20 of its new Challenger 3500 aircraft its largest business jet order of the year.

News from © Canadian Press Enterprises Inc., 2021