Company News

Bombardier posts quarterly loss as rail division struggles

Aug 1 (Reuters) - Bombardier Inc reported a quarterly loss on Thursday, compared with a year-ago profit, as the Canadian plane and train maker wrestled with challenges in its key rail division.

The company posted a net loss of $36 million, or 4 cents per share, in the second quarter ended June 30, compared with a profit of $70 million, or 2 cents per share, a year earlier.

Bombardier also reduced its adjusted core earnings forecast for the full year to a range of $1.20 billion to $1.30 billion, from $1.50 billion to $1.65 billion that it had forecast earlier.

The company said the cut reflected its plans to consolidate its three existing aerospace units into a single Bombardier aviation business segment from the third quarter and additional investments, costs and timings of project in its rail business. (Reporting By Allison Lampert in Montreal and Arathy S Nair at Bangalore; Editing by Shailesh Kuber)