Bombardier Regio 2N Train © Bombardier Transportation
Bombardier reported its third quarter 2016 results and highlighted solid performance executing its turnaround plan.
With strong year-to-date performance, Bombardier reaffirmed its guidance and announced that it expects to finish the year at the high end of its EBIT guidance, with better operating margins at each of its business units and with significantly improved year-over-year cash performance. For the third consecutive quarter, EBIT margins before special items at Transportation, Business Aircraft, and Aerostructures and Engineering Services have exceeded 6%, showing early benefits of the Company’s turnaround plan.
Alain Bellemare, President and Chief Executive Officer, Bombardier Inc said:
“We continue to gain momentum as we execute our turnaround plan and transform our company.”
“In the third quarter, we again delivered on our financial commitments, we achieved our program milestones and we continued to take the hard actions necessary to improve productivity, reduce costs and optimize our operations.”
“As we close out 2016, we are confident in our strategy, our turnaround plan and in our ability to achieve our 2020 goals,” Bellemare continued. “We remain focused on improving operational efficiency, flawlessly ramping-up our new programs and maintaining a disciplined and proactive approach to deliver value to customers and shareholders in any market environment.”
Bombardier also announced that it will hold an Investor Day meeting on Thursday, December 15, 2016. Hosted by Alain Bellemare, the meeting will include disclosure of guidance for 2017 and presentations by the Company’s business segment leaders.
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