Bombardier train orders up sharply in quarter
Written by William C. Vantuono, Editor-in-ChiefBombardier, Inc. reported Tuesday that its rail segment booked new orders valued at $2.9 billion in the quarter ended April 30, up sharply from the $1.2 billion in orders for the same period last year.
Bombardier said revenue generated by the rail segment revenue was flat at $2.3 billion in the quarter.
The company also said the market for its business jets was beginning to strengthen, with cancellations down. Bombardier’s commercial aircraft division received its first U.S. order for the new narrowbody C-Series aircraft, its first venture in the 100-150 seat market.
Bombardier reported net income of $153 million for its first fiscal quarter, or 8 cents a share, down from $158 million, or 9 cents a share, a year ago. This topped analysts’ expectations of 7 cents. Corporate revenue fell 7% to $4.25 billion.
Bombardier shares were up 4.35% at the opening of the Toronto Stock Exchange on Wednesday.
