Wednesday, May 18, 2022

Bombardier announced job cuts after the poor quarterly performance

Bombardier’s CEO hint about the job cuts as a broader plan to revive the business after the company was unable to make quarterly profits due to the current Coronavirus pandemic.


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


Bombardier already selling its assets to reduce the cost. Recently, the company sold its rail division to French train maker Alstom SA, to become a pure-play business jet maker.


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


Martel told reporters that in the next few weeks company will decide what exactly needs to be done to reduce our costs and it is clear that there will be some job cuts in the coming weeks.

The company is also facing an investigation by the U.K. Serious Fraud Office which is related to a decade-old sale of aircraft to Indonesian carrier Garuda.

The company is increasing its deliveries of its Global 7500 jets up to 12 in the last three months of 2020. While the corporate aircraft deliveries will decline by 30% during 2020 but the company see a rebound in private flights.

Martel is expecting more orders for its mid-sized Challenger business aircraft because the price went down during the current pandemic due to surplus inventory.

The company only sold 24 units of its corporate jet in the quarter compared to 31 a year ago. But revenue from business aircraft rose about 10% since higher-priced Global 7500s made up a third of deliveries

Bombardier announced quarterly results on Thursday and reported adjusted EBITDA of $176 million for the quarter ended Sept. 30, compared with $255 million a year earlier. Experts were expecting EBITDA to be $179.8 million. There was no change in the share price in the afternoon session. The free cash flow usage was $706 million during the quarter,and it remains to break even during the second half of 2020.

Latest news

A Few Bright Spots in Tesla Inc. (TSLA)

Tesla's (TSLA) Shanghai facility ceased operations on Monday owing to material shortages, according to Reuters. Furthermore, demand for Tesla electric vehicles decreased drastically in...

A Closer Look at DocuSign Inc.’s (DOCU) Growth Curve

DocuSign Inc. (NASDAQ: DOCU), a software firm that creates an electronic signature and verification solutions, is presently trading more than 70% below its 52-week...

One Of The Good Ones: Enphase Energy Inc. (ENPH)

Enphase Energy, Inc. (NASDAQ: ENPH), a maker of inverters, released its first-quarter 2022 results. Enphase set a new sales record and outperformed Wall Street...

Riding the Trend or Protecting Profits | AT&T Inc. (T)

AT&T Inc. (NYSE: T), a telecommunications service provider, released its first-quarter earnings last week. The firm claimed a record number of new communication subscribers,...

Related news

A Few Bright Spots in Tesla Inc. (TSLA)

Tesla's (TSLA) Shanghai facility ceased operations on Monday owing to material shortages, according to Reuters. Furthermore, demand for Tesla electric vehicles decreased drastically in...

A Closer Look at DocuSign Inc.’s (DOCU) Growth Curve

DocuSign Inc. (NASDAQ: DOCU), a software firm that creates an electronic signature and verification solutions, is presently trading more than 70% below its 52-week...

One Of The Good Ones: Enphase Energy Inc. (ENPH)

Enphase Energy, Inc. (NASDAQ: ENPH), a maker of inverters, released its first-quarter 2022 results. Enphase set a new sales record and outperformed Wall Street...

Riding the Trend or Protecting Profits | AT&T Inc. (T)

AT&T Inc. (NYSE: T), a telecommunications service provider, released its first-quarter earnings last week. The firm claimed a record number of new communication subscribers,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

1745

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam