Bombardier sees Q1 revenue about $3.5B, consensus $4.76B
Revenues for Q1 are expected to be ~$3.5B; driven lower by timing of aircraft deliveries, slower project ramp up at Transportation, and unfavorable currency translation. Adjusted EBITDA and adjusted EBIT expected to be ~$265M and ~$170M, respectively, due to lower revenues and revised cost estimates on Transportation projects. Free cash flow usage expected to be ~$1.0B, supporting working capital investments. "We had a soft first quarter driven by the timing of aircraft deliveries, foreign exchange headwind and a slower production ramp-up at Transportation," said Alain Bellemare, President and CEO. "We expect to recover and meet our aircraft delivery and financial performance targets for the year in our aerospace businesses. At Transportation, we are adjusting our 2019 guidance to reflect both changes to our production ramp up and cost pressure from a few challenging legacy projects as we continue to drive our transformation." Business Aircraft deliveries for the quarter totaled 24 aircraft -- 2 light, 14 medium, and 8 large jets -- while Commercial Aircraft delivered 4 aircraft while recording orders for 16 aircraft.