ALSMY - Bombardier Q3 results hit by coronavirus disruptions

As it transitions to become a pure-play business aircraft company, Bombardier ([[BDRAF]], [[BDRBF]]) missed profit estimates in Q3, hurt by coronavirus-led disruptions at its aviation and transportation units.Adjusted EBITDA came in at $176M for the quarter, compared with $255M a year earlier.The firm, which hopes to close the sale of its rail division to Alstom (ALSMY) in the first quarter of 2021, also said revenue from its transportation unit fell 2.5%.Bombardier's business jet deliveries fell to 24 units from 31 a year earlier, but revenue from the business rose about 10% as its flagship Global 7500 jet made up for a third of those deliveries.Bombardier, which also aims to break even on free cash flow in 2020, reported quarterly free cash flow usage of $706M."While Bombardier will be able to deleverage its balance sheet by selling its rail transportation unit to Alstom next year, we believe that its future still

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Bombardier Q3 results hit by coronavirus disruptions