Bombardier bullish after generating highest quarterly free cash flow in two decades
Bombardier reported its highest quarterly free cash flow in nearly two decades, driven by strong demand for private jets and growth in its service and maintenance business, while raising its full-year free cash flow forecast above US$1-billion. The company posted a 20% increase in net income and maintained its strategic focus on manufacturing and servicing business jets after shedding non-core divisions in recent years. Despite potential risks from a U.S. national security investigation into aircraft imports, Bombardier continues to benefit from stable trade agreements and expanding defense partnerships.
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Open this photo in gallery:Bombardier's Challenger jet manufacturing facility in Dorval, Que. he company hiked its financial forecast on free cash flow to greater than US$1-billion for the year while reaffirming its guidance on other key metrics.Christinne Muschi/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountBombardier Inc. BBD-B-T says demand for its private jets remains strong and its strategy to generate more profit from servicing aircraft is paying off as the company generated its highest free cash flow in nearly two decades during its latest quarter.The Canadian manufacturer of Challenger and Global jets on Thursday reported a 20-per-cent increase in net income for the three months ended March 31, to US$53-million or 45 U.S.
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