Source: Bombardier

Bombardier Moves First-Quarter Results Release for Second Time

  • Spokeswoman says change to Thursday due to scheduling conflict
  • Earnings announcement now coincides with Delta media day

Bombardier Inc.’s first-quarter results are on the move -- again.

Canada’s biggest aerospace company said it would release quarterly earnings Thursday before the stock market opens, one day ahead of schedule. The company’s annual meeting will still take place as planned Friday at 10 a.m. in Mirabel, Quebec.

This marks the second time in a matter of weeks that the Montreal-based company has changed the timing of the announcement. Bombardier had initially targeted April 28 before postponing the announcement to the following day, “suggesting that a significant decision might be made just prior to that date,” said Benoit Poirier, an analyst with Desjardins Capital Markets in Montreal.

The latest change is due to a scheduling conflict, Isabelle Rondeau, a Bombardier spokeswoman, said in an e-mail. She didn’t elaborate.

Poirier is one of several analysts who suggest Bombardier may announce an order for its flagship C Series jet in conjunction with the results. The planemaker unveiled a letter of intent with Air Canada for as many as 75 C Series jets when it reported full-year numbers in February. That deal still needs to be converted into a firm order.

Air Canada Chief Executive Officer Calin Rovinescu said earlier this month he expected the carrier to turn its letter of intent in a firm order ”in the next weeks,” without being more specific. The airline reports earnings on Friday.

Bombardier is also in the running for a C Series order from Delta Air Lines Inc., people familiar with the matter told Bloomberg News earlier this month. Delta is hosting reporters for meetings in Atlanta starting on Thursday, though it won’t say if aircraft orders will be discussed.

Bombardier may report a first-quarter loss of 1 Canadian cent a share, the average of 16 analyst estimates compiled by Bloomberg.

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