Bombardier Reports US$192M Third-Quarter Profit Compared With a Loss a Year Ago

November 5, 2020 Updated: November 5, 2020

MONTREAL—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.

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.

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.