Bombardier beats profit estimates on high service demand
The jet maker reported adjusted earnings of $1.81 per share as service revenue grew 25%. It also raised its annual free cash flow outlook to over $1 billion.
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BOMBARDIER INC-B reported adjusted Q1 earnings of $1.81 per share, beating analyst estimates of 77 cents. Quarterly revenue rose 5% to $1.6B as service-related income jumped 25% to $617M. Investors are reacting to a 20-year high in first-quarter free cash flow and an upgraded full-year outlook.
