Bombardier, Inc. (TSE:BBD.B) announced on Wednesday that Bombardier Transportation had been awarded as the preferred major rolling stock order bidder for the UK Department of Transport.
East Anglia Franchise
The East Anglia franchise has been awarded by the government to Abellio East Anglia, which will begin the operations by October. As a part of this, Abellio East Anglia has chosen Bombardier Transportation to supply the project with Bombardier AVENTRA carriages.
Richard Hunter, Bombardier Transportation Managing Director for the UK, noted that winning the bidding process for such huge public transportation project underscores the top-of-the-line quality of the company’s offerings. Moreover, it reiterates the commitment of Bombardier to providing exceptional rail transportation solutions for the benefits of operators and passengers alike.
Q2 Financial Highlights
Bombardier has released its earnings report for the second quarter on Friday.
For the period, the company had a revenue of $4.31 billion, which is down year-over-year from $4.62 billion. Bombardier had a net loss of $490 million, which is comparable to a net income of $125 million reported during the same period in 2015. This indicates a diluted earnings per share (EPS) of $(0.24), which is comparable to a diluted EPS of $0.06 reported last year. Meanwhile, adjusted net loss is seen at $83 million, which is comparable to an adjusted net income of $145 in 2015. This indicates an adjusted EPS of $(0.06), which is comparable to an adjusted EPS of $0.06 reported during the same quarter last year.
In terms of segmental revenue, the Transportation, Business Aircraft, and Aerostructures & Engineering Services segments tumbled 6%, 19%, and 10% year-over-year, respectively. The Transportation segment posted a revenue of $1.96 billion, which is down from $2.09 billion; the Business Aircraft segment posted a revenue of $1.47 billion, which is down from $1.82 billion; and the Aerostructures & Engineering Services segment posted a revenue of $425 million, which is down from $472 million. Meanwhile, the Commercial Aircraft segment had a 28% year-over-year surge in revenue to $764 million from $598 million.
