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BRIEF-Bombardier Says 2019 Financial Results Expected To Be Below Guidance

Published 2020-01-16, 06:54 a/m
© Reuters.  BRIEF-Bombardier Says 2019 Financial Results Expected To Be Below Guidance
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Jan 16 (Reuters) - Bombardier Inc BBDb.TO :

* BOMBARDIER PROVIDES PRELIMINARY FOURTH QUARTER AND FULL YEAR 2019 FINANCIAL RESULTS AND UPDATES ON ACCELERATING DELEVERAGING PHASE OF TURNAROUND PLAN

* BOMBARDIER - COMPANY ACTIVELY PURSUING STRATEGIC OPTIONS TO ACCELERATE DELEVERAGING

* BOMBARDIER - BOMBARDIER REASSESSING FUTURE PARTICIPATION IN AIRBUS CANADA LIMITED PARTNERSHIP

* BOMBARDIER - 2019 FINANCIAL RESULTS EXPECTED TO BE BELOW GUIDANCE, DRIVEN LARGELY BY ACTIONS AT TRANSPORTATION TO RESOLVE CHALLENGING PROJECTS

* BOMBARDIER - LIQUIDITY REMAINS STRONG, WITH YEAR-END CASH ON HAND OF APPROXIMATELY $2.6 BILLION.

* BOMBARDIER - "ACTIVELY PURSUING OPTIONS TO STRENGTHEN ITS BALANCE SHEET AND ENHANCE SHAREHOLDER VALUE."

* BOMBARDIER - SEES FY 2019 CONSOLIDATED REVENUES OF ABOUT $15.8 BILLION

* BOMBARDIER - SEES FY 2019 CONSOLIDATED ADJUSTED EBITDA OF ABOUT $830 MILLION

* BOMBARDIER - AVIATION DELIVERIES WERE 58 AIRCRAFT IN Q4

* BOMBARDIER - AS AVIATION MADE GOOD PROGRESS RAMPING UP GLOBAL 7500, FY ADJUSTED EBIT MARGIN IS STILL EXPECTED TO BE APPROXIMATELY 7.0%

* BOMBARDIER - AT TRANSPORTATION, Q4 ADJUSTED EBIT LOSS IS ANTICIPATED TO BE APPROXIMATELY $230 MILLION

* BOMBARDIER - SEES 2019 BUSINESS AIRCRAFT DELIVERIES OF 142 UNITS (INCL. 11 GLOBAL 7500)

* BOMBARDIER - SEES FY 2019 COMMERCIAL AIRCRAFT DELIVERIES OF 33 UNITS

* BOMBARDIER - TRANSPORTATION Q4 RESULTS INCLUDES CHARGE OF APPROXIMATELY $350 MILLION

* BOMBARDIER - CONSOLIDATED FREE CASH FLOW FOR Q4 IS ESTIMATED AT APPROXIMATELY $1.0 BILLION

* BOMBARDIER - BACKLOG AS AT DECEMBER 31, 2019 FOR BUSINESS AIRCRAFT WAS $14.4 BILLION

* BOMBARDIER - BACKLOG AS AT DECEMBER 31, 2019 FOR TRANSPORTATION WAS ABOUT $35.7 BILLION

* BOMBARDIER - LATEST INDICATIONS OF FINANCIAL PLAN FROM ACLP CALLS FOR ADDITIONAL CASH INVESTMENTS TO SUPPORT PRODUCTION RAMP-UP

* BOMBARDIER - LATEST INDICATIONS OF FINANCIAL PLAN FROM ACLP PUSHES OUT BREAK-EVEN TIMELINE, AND GENERATES A LOWER RETURN OVER LIFE OF PROGRAM

* BOMBARDIER - RECEIVED MOST OF REGULATORY APPROVALS REQUIRED FOR CLOSING OF CRJ SALE

* BOMBARDIER - LATEST INDICATIONS OF FINANCIAL PLAN FROM ACLP MAY SIGNIFICANTLY IMPACT JOINT VENTURE VALUE

* BOMBARDIER - WILL DISCLOSE AMOUNT OF ANY WRITE-DOWN RELATED TO AIRBUS CANADA PARTNERSHIP WHEN CO COMPLETES ANALYSIS, REPORT FINAL Q4 FINANCIAL RESULTS

* BOMBARDIER - BACKLOG AS AT DECEMBER 31, 2019 FOR BUSINESS AIRCRAFT WAS ABOUT $14.4 BILLION (ADDS DROPPED WORD "ABOUT")

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