The company’s stock plummeted 25 per cent when markets opened before rebounding to $2.435 in late-morning trading, a 16.6 per cent drop. Bombardier Inc. is cutting its financial guidance for the year due to lower expectations at its transportation business and commercial aircraft division. ( Graham Hughes / THE CANADIAN PRESS )The company, which keeps its books in U.S. dollars, said it now expects full-year revenues to be approximately US$17 billion, roughly $1 billion lower than originally anticipated. Revenue at Bombardier’s commercial aircraft business is predicted to be $250 million lower due to an earlier than anticipated closing of the sale of its business aircraft training business and the Q400 program. Article Continued BelowAdjusted EBIT are now expected to come in between $1 billion and $1.15 billion compared with earlier expectations for between $1.15 billion and $1.25 billion.

Source: thestar April 25, 2019 10:51 UTC