MONTREAL — Bombardier Inc. expects its revenue to grow to between US$17 billion and US$17.5 billion next year.
The company (TSX:BBD.B) says that’s up by about US$1 billion from its guidance for 2017 at the mid-point of the range.
However, analysts on average had expected revenue to grow to about $18.4 billion next year, according to Thomson Reuters.
Bombardier says the growth in revenue is expected to be driven by the ramp-up of key projects at Bombardier Transportation and higher C Series aircraft deliveries.
Over the next three years, the company’s objective is to grow revenue by US$4.0 billion, which represents a seven per cent compound annual growth rate.
Bombardier is expected to provide an update on its turnaround plan and discuss its guidance at its annual investor conference this afternoon.
The Canadian Press