Bombardier results down in 2016 as turnaround continues

Bombardier said it is still in the midst of its financial turnaround, with fourth-quarter revenues of $4.4 billion, down 12.7 percent from the same quarter of 2015.

For the year, revenues were $16.3 billion, down 10 percent from 2015 year-end revenues. The company recorded a loss of $268 million for the year, compared to a profit of $326 million last year.

But the company said that in 2017 it expects company revenues to resume growth in the low-single digits, driven by an increase in its train segment and an acceleration of its C Series commercial aircraft deliveries.

For the year, revenues for the company’s business jets, which includes Learjet, were down 18 percent; and its unit deliveries were down 36 percent, from 2015.

This story was originally published February 16, 2017 at 9:26 AM with the headline "Bombardier results down in 2016 as turnaround continues."