|Bid||2.1300 x 0|
|Ask||2.1500 x 0|
|Day's range||2.1300 - 2.1800|
|52-week range||1.7000 - 5.6000|
|Beta (3Y monthly)||1.40|
|PE ratio (TTM)||13.63|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! In this article we are going to estimate the intrinsic value of Bombardier Inc. (TSE:BBD.B) by p...
MONTREAL/BELFAST (Reuters) - Bombardier put its Belfast wing-making factory on the block as part of a wider shake-up, while the plane and train maker's reluctance to say it would meet 2020 goals sent shares lower. The Canadian company said on Thursday it would unite its corporate and regional jet units, while selling off two aerostructures operations, including the Belfast plant, the largest high-tech manufacturer in Northern Ireland. Bombardier's retreat from Belfast comes at a sensitive time for the British government, which is struggling to agree a deal to leave the European Union, in large part because of disagreements over the future of the Irish border.
The manufacturer is unable to reaffirm its financial targets for next year, and Chief Financial Officer John Di Bert said he couldn’t provide any additional “precision.” Bombardier also announced Thursday the formation of a new aerospace division that will oversee private aircraft and CRJ regional jets. The cloudy outlook underscores the challenges still facing Chief Executive Officer Alain Bellemare, who began a five-year turnaround of the debt-laden company in 2015. While the planned divestiture in Belfast would further his overhaul of Bombardier, the potential sale would take a bite out of revenue -- and face uncertainty from Britain’s planned split from the European Union.
Canada's Bombardier Inc on Thursday shied away from pledges to meet 2020 financial objectives, and shares of the train and plane manufacturer sank as much as 10 percent in morning trading, as company cited headwinds in its rail division and announced new restructuring efforts. The plane-and-train maker said it would unite its corporate and regional jet units into one aviation division while selling off two aerostructures operations including a wing-making facility in Belfast. Chief Executive Officer Alain Bellemare called the steps "a strategic move," as the company continues to shed its commercial aviation businesses to focus on more profitable sales of corporate jets and passenger rail cars.
Canada's Bombardier Inc shocked workers in Northern Ireland on Thursday by announcing it would sell its Belfast operation, the largest high-tech manufacturer in the British region, which employs 3,600 people. Located yards from the Belfast shipyard that built the Titanic, the plant in British-run Northern Ireland is by far the most important manufacturer left in its capital city, once one of the key industrial centers of the British empire. The decision is part of a plan to combine Bombardier's corporate and regional jet units into a single aviation unit and shed more assets, including its Belfast and Morocco aerostructures businesses.
Trade unions in Belfast expressed shock on Thursday after Canada's Bombardier Inc announced plans to sell its plant in the city, the largest high-tech manufacturer in Northern Ireland, which employs over 3,600 people. The decision is part of a plan to combine Bombardier's corporate and regional jet units into a single aviation unit and shed more non-core assets, including its Belfast and Morocco aerostructures businesses. "Today's announcement will come as a shock to the entire Bombardier workforce in Northern Ireland," the Unite trade union said in a statement.
Swiss Federal Railways (SBB) and Bombardier are making progress on resolving technical problems with passenger trains the Swiss have ordered and could put five more of them into service within weeks, the partners said. SBB awarded Bombardier a 59-train contract in 2010, worth 1.9 billion Swiss franc ($1.86 billion), but the first deliveries were made only in 2018. Toni Haene, SBB's head of passenger transport, said on Wednesday that the plan was to put five more trains into service in addition to the 12 that have already been delivered.
The timing of aircraft deliveries also hurt first-quarter results, though the company said it should be able to recover the shortfall during the rest of the year. “We had a soft first quarter driven by the timing of aircraft deliveries, foreign-exchange headwind and a slower production ramp-up at Transportation,” which makes trains, Chief Executive Officer Alain Bellemare said in the statement. The weaker forecast adds to the pressure on the rail-equipment division, Bombardier’s biggest, which has been plagued by missteps on high-profile projects in New York, Toronto and Europe.
The rail unit, which is expected to generate $10 billion, or half of the company’s revenue in 2020, has been dogged by contracts delays that heavily contributed to disappointing free cash flow in 2018 and a subsequent selloff of Bombardier stocks and bonds. Bombardier’s decision to trim 2019 revenue estimates by $1 billion to $17 billion spooked bondholders on Thursday. Bombardier’s “revelation this morning on weaker, expected transport revenue, came as a negative surprise to the market,” wrote Citi analyst Stephen Trent, while noting that the company was still expecting improved free cash flow.
The cuts to its forecasts come as the plane-and-train maker nears the end of a 5-year turnaround plan, after heavy investment in plane production drove the company to the brink of bankruptcy in 2015. Shares erased some of their earlier losses to trade down 15% at C$2.46 by midmorning, with the company still the biggest loser on the Toronto Stock Exchange and the most active stock. Montreal-based Bombardier trimmed its 2019 revenue estimate http://bit.ly/2vuDVjv by $1 billion (£777 million) to $17 billion, and expected adjusted core earnings to range between $1.50 billion and $1.65 billion, compared with its prior expectation of $1.65 billion to $1.8 billion.
Bombardier’s 5-year senior CDS meanwhile rose 74 basis points to 430 basis points, the most since November, according to data provider CMA. “Investors are likely to reevaluate the company’s long-term financial targets,” Citigroup Inc. analysts Manish Somaiya and Dominic Lanari wrote in a note to investors. The timing of aircraft deliveries also led to a soft first quarter for the group, though the shortfall should be recovered and financial targets for the division met, Chief Executive Officer Alain Bellemare said.
Shares of Bombardier Inc fell as much as 25.3 percent on Thursday after the Canadian plane-and-train maker cut its full-year profit and revenue forecast, wiping out more than C$1.5 billion off its market ...
Canada's Bombardier Inc sees higher sales from modernizing existing rail cars as the company works to further diversify its largest division as measured in revenue, a spokesman said this month. Bombardier projects that a quarter of its transportation division's expected 2020 revenue of $10 billion will come from rail services, up from 18 percent in 2014, according to a company investor presentation.
A new, long-delayed 88-passenger jet from Japan may finally be the right plane at the right time. More cities in Asia and Europe are seeking to link up with each other and the global air travel network. The Mitsubishi Regional Jet, the first airliner built in Japan since the 1960s, began certification flights last month […] The post Japan-Built Mitsubishi Regional Jet Finally Set to Take Flight appeared first on Skift.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Bombardier Inc. (TSE:BBD.B), which is in the aerospace & defense business, and is based in Canada...
Metropolitan Transportation Authority board members on Monday scolded contractors over significant delays to the installation of a safety system across the authority’s commuter rail lines, placing it at risk of missing a federally mandated deadline. The companies, Bombardier Inc. and Siemens AG, were awarded a joint contract totaling $428 million in 2013 to install the system on the Long Island Rail Road and the Metro-North Railroad, two of the busiest in the U.S. The projects have suffered a series of setbacks because of understaffing by the contractors as well as software and hardware failures.
The Global 7500, which entered service in 2018 as the company's largest business jet, is key for the Montreal-based company to hit its 2020 target of generating $20 billion in revenues. In January, Bombardier said it would acquire the manufacturing unit from aircraft parts supplier Triumph Group Inc, which produces the wing for the Global 7500.
Airbus on Thursday reported the cancellation of orders worth $4 billion, dominated by 8 A380 aircraft, highlighting an increasingly bleak picture for the world's largest airliner as preparations to close production gather pace amid weak demand. The cancellation comes after the A380's largest customer, Emirates, began discussions with Airbus over switching some A380 orders to smaller models after it failed to secure an engine contract for its latest batch of orders, Reuters reported last week. Barring a surprise agreement to prop up the A380, Airbus is preparing to close production of the double-decker earlier than planned and could make a detailed announcement as early as its annual results on Feb 14, people familiar with the matter said.