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Bombardier Reports Lower Q2 Adjusted Loss; Revenue Up

Bombardier Inc. (BBD.B) on Thursday reported smaller adjusted loss for the second quarter along with higher revenue.

The company cited steady demand for new aircraft, strong aftermarket performance and robust free cash flow generation.

Net loss for the period was $129 million or $1.43 per share as compared to a profit of $139 million or $1.33 per share in the prior period.

The net loss/gain on certain financial instruments was a loss of $82 million in the second quarter of 2022 as compared to a gain of $388 million in the second quarter of 2021.

Excluding the effect of the above as well as other items, adjusted net loss was $38 million or $0.48 per share in the current quarter as compared to a loss of $137 million or $1.49 per share in the prior period.

Adjusted EBITDA increased 41 percent to $201 million, as compared to $143 million in the prior-year quarter.

Revenues for the quarter stood at $1.56 billion as compared to $1.52 billion in the corresponding quarter of 2021.

13 analysts polled by Thomson Reuters were expecting the company to report revenues of $2.06 billion in the second quarter of 2022.

Continuing operations resulted in a loss of $109 million or $1.22 per share as compared to a profit of $139 million or $1.34 per share in the prior-year quarter.

The company reiterated its guidance on aircraft deliveries, revenues, adjusted EBITDA and adjusted EBIT. Aircraft deliveries in 2022 is seen at 120 units and revenue guidance is pegged at $6.5 billion. Adjusted EBITDA is expected to be $825 million whereas adjusted EBIT is expected at $375 million.

16 analysts polled by Thomson Reuters are expecting the company to report revenues of $8.52 billion in the year 2022.

The guidance on free cash flow has been increased to $515 million as compared to $50 million, expected earlier.

Shares of Bombardier closed Wednesday's trading at $18.20, up $1.36 or 8.11 percent from the previous close.

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