Bombardier posts second quarter net loss of US$296m

Bombardier has reported its second quarter 2017 results. For the quarter, Bombardier reported revenues of US$4.1bn. EBIT before special items grew to US$164m, up 55% over the same period last year. EBIT margins before special items were 8.2% for Transportation, a robust 8.9% at Business Aircraft and 7.7% at Aerostructures. Bombardier reported a net loss of US$296m for the second quarter. Commercial Aircraft recorded an EBIT loss in line with the C Series ramp-up plan. Free cash flow usage was also in line with plan at US$570m for the quarter. Bombardier reaffirmed its revenue, delivery and EBIT before special items guidance for the full year. The Company delivered 20 commercial aircraft during the quarter, including 6 C Series, 7 CRJ Series and 7 Q400 aircraft. With year-to-date deliveries of regional aircraft and turboprops totaling 28 aircraft, Bombardier reached the halfway mark of its full year delivery guidance for CRJ Series and Q400 aircraft. Production is ramping-up to support approximately 30 C Series aircraft deliveries. C Series aircraft deliveries are expected to gradually intensify in the second half of the year.