Advertisement

Bombardier sees US$192M third-quarter profit compared with a loss a year ago

A Bombardier plant is seen in Montreal on Friday, June 5, 2020. Paul Chiasson/The Canadian Press

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.

READ MORE: Bombardier to get less cash in amended deal with Spirit

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.

Story continues below advertisement

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.

Sponsored content